ATI Inc. (NYSE:ATI) Position Trimmed by Blue Trust Inc.

Blue Trust Inc. trimmed its stake in ATI Inc. (NYSE:ATI) by 71.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,101 shares of the basic materials company’s stock after selling 2,817 shares during the quarter. Blue Trust Inc.’s holdings in ATI were worth $74,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ATI. Quarry LP acquired a new position in ATI in the 2nd quarter valued at approximately $26,000. UMB Bank n.a. grew its holdings in shares of ATI by 557.0% during the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 791 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of ATI by 294.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 1,010 shares during the last quarter. Quest Partners LLC acquired a new position in shares of ATI in the second quarter worth $88,000. Finally, GAMMA Investing LLC raised its holdings in shares of ATI by 66.0% during the third quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company’s stock worth $224,000 after acquiring an additional 1,330 shares in the last quarter.

ATI Stock Down 4.6 %

Shares of ATI stock opened at $54.19 on Thursday. ATI Inc. has a 12-month low of $36.70 and a 12-month high of $68.92. The stock has a market capitalization of $6.74 billion, a P/E ratio of 21.25, a PEG ratio of 1.38 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 2.13 and a debt-to-equity ratio of 1.26. The stock has a 50 day moving average price of $63.02 and a two-hundred day moving average price of $60.20.

ATI (NYSE:ATI) last posted its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.06). The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.12 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. ATI’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. Equities analysts expect that ATI Inc. will post 2.47 earnings per share for the current year.

ATI declared that its board has approved a stock buyback plan on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the basic materials company to purchase up to 9.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the completion of the transaction, the chairman now owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.05% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ATI. Benchmark restated a “buy” rating and issued a $80.00 target price on shares of ATI in a research note on Wednesday, August 7th. Susquehanna lowered their price target on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research note on Wednesday. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.71.

ATI Profile

ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.