Mutual of America Capital Management LLC Has $3.60 Million Holdings in ATI Inc. (NYSE:ATI)

Mutual of America Capital Management LLC trimmed its holdings in shares of ATI Inc. (NYSE:ATI) by 58.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,818 shares of the basic materials company’s stock after selling 76,011 shares during the period. Mutual of America Capital Management LLC’s holdings in ATI were worth $3,601,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Millennium Management LLC boosted its stake in ATI by 165.1% during the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock worth $107,846,000 after acquiring an additional 1,211,273 shares in the last quarter. Senator Investment Group LP raised its holdings in shares of ATI by 167.6% during the second quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company’s stock valued at $49,414,000 after purchasing an additional 558,138 shares during the period. Driehaus Capital Management LLC bought a new position in shares of ATI during the 2nd quarter worth about $28,896,000. Cubist Systematic Strategies LLC acquired a new stake in shares of ATI in the 2nd quarter valued at about $15,869,000. Finally, Squarepoint Ops LLC increased its position in ATI by 739.2% in the 2nd quarter. Squarepoint Ops LLC now owns 308,355 shares of the basic materials company’s stock valued at $17,098,000 after buying an additional 271,613 shares in the last quarter.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total value of $1,555,750.00. Following the sale, the chairman now owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.71% of the company’s stock.

ATI Stock Up 2.0 %

ATI opened at $59.30 on Friday. ATI Inc. has a fifty-two week low of $38.04 and a fifty-two week high of $68.92. The firm has a market capitalization of $8.46 billion, a P/E ratio of 22.81, a PEG ratio of 2.01 and a beta of 1.08. The company’s 50-day moving average is $61.08 and its 200 day moving average is $60.59. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 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 21.39% and a net margin of 8.85%. ATI’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 EPS. Research analysts expect that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Susquehanna cut their price target on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Benchmark reiterated a “buy” rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $73.71.

About ATI

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.