Avior Wealth Management LLC Sells 550 Shares of ATI Inc. (NYSE:ATI)

Avior Wealth Management LLC trimmed its position in shares of ATI Inc. (NYSE:ATI) by 44.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 684 shares of the basic materials company’s stock after selling 550 shares during the quarter. Avior Wealth Management LLC’s holdings in ATI were worth $46,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Sequoia Financial Advisors LLC lifted its holdings in shares of ATI by 3.3% during the third quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock valued at $360,000 after purchasing an additional 172 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of ATI by 3.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock valued at $364,000 after purchasing an additional 224 shares during the last quarter. Beck Capital Management LLC lifted its holdings in shares of ATI by 0.8% during the second quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock valued at $1,898,000 after purchasing an additional 262 shares during the last quarter. KBC Group NV lifted its holdings in shares of ATI by 12.9% during the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock valued at $225,000 after purchasing an additional 385 shares during the last quarter. Finally, Souders Financial Advisors lifted its holdings in shares of ATI by 6.1% during the third quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company’s stock valued at $477,000 after purchasing an additional 411 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ATI. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Susquehanna decreased their price objective on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted 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. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Finally, Benchmark reiterated a “buy” rating and set a $80.00 target price on shares of ATI in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, ATI currently has a consensus rating of “Moderate Buy” and an average price target of $73.71.

Insider Buying and Selling

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $61.61, for a total value of $1,540,250.00. Following the sale, the chairman now owns 511,443 shares in the company, valued at $31,510,003.23. The trade was a 4.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is currently owned by insiders.

ATI Price Performance

Shares of ATI opened at $59.30 on Monday. ATI Inc. has a 1-year low of $38.04 and a 1-year high of $68.92. The firm has a fifty day simple moving average of $61.08 and a two-hundred day simple moving average of $60.60. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The firm has a market cap of $8.46 billion, a PE ratio of 22.81, a P/E/G ratio of 2.01 and a beta of 1.08.

ATI (NYSE:ATI) last issued its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.06). The firm had revenue of $1.05 billion during 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%. The company’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 EPS. On average, equities analysts anticipate that ATI Inc. will post 2.27 EPS for the current year.

ATI announced that its Board of Directors has approved a stock repurchase program on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to reacquire up to 9.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.