Quantbot Technologies LP Takes $969,000 Position in ATI Inc. (NYSE:ATI)

Quantbot Technologies LP acquired a new stake in shares of ATI Inc. (NYSE:ATI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,480 shares of the basic materials company’s stock, valued at approximately $969,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its holdings in shares of ATI by 3.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock valued at $360,000 after buying an additional 172 shares during the period. Beck Capital Management LLC boosted its position in ATI by 0.8% in the second quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock worth $1,898,000 after purchasing an additional 262 shares during the last quarter. KBC Group NV grew its stake in shares of ATI by 12.9% during the 3rd 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 period. Souders Financial Advisors increased its position in shares of ATI by 6.1% during the 3rd 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. Finally, Apollon Wealth Management LLC lifted its stake in shares of ATI by 7.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 6,514 shares of the basic materials company’s stock worth $436,000 after purchasing an additional 457 shares during the period.

ATI Price Performance

Shares of ATI stock opened at $60.17 on Monday. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. ATI Inc. has a 52 week low of $38.04 and a 52 week high of $68.92. The stock’s 50-day simple moving average is $60.82 and its 200-day simple moving average is $60.58. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 2.08 and a beta of 1.08.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). ATI had a return on equity of 21.39% and a net margin of 8.85%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts expect that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

ATI announced that its Board of Directors has initiated a stock buyback program 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 repurchase up to 9.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

ATI Company 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.