ATI Inc. (NYSE:ATI) Shares Sold by Barclays PLC

Barclays PLC lessened its holdings in shares of ATI Inc. (NYSE:ATI) by 93.0% during the 3rd quarter, Holdings Channel reports. The firm owned 52,541 shares of the basic materials company’s stock after selling 701,605 shares during the period. Barclays PLC’s holdings in ATI were worth $3,516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates lifted its holdings in ATI by 318.6% during the 2nd quarter. Raymond James & Associates now owns 46,050 shares of the basic materials company’s stock worth $2,553,000 after buying an additional 35,048 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ATI by 3.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,951 shares of the basic materials company’s stock valued at $1,550,000 after acquiring an additional 1,028 shares in the last quarter. Forum Financial Management LP purchased a new position in ATI in the second quarter valued at $211,000. Maryland State Retirement & Pension System grew its stake in ATI by 15.3% during the 2nd quarter. Maryland State Retirement & Pension System now owns 53,000 shares of the basic materials company’s stock worth $2,939,000 after purchasing an additional 7,029 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in ATI during the 2nd quarter worth about $205,000.

ATI Price Performance

Shares of ATI opened at $54.46 on Monday. 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 Inc. has a 1-year low of $38.04 and a 1-year high of $68.92. The stock has a market cap of $7.77 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.95 and a beta of 1.09. The firm has a fifty day moving average price of $58.45 and a 200 day moving average price of $60.21.

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

ATI announced that its board has approved a stock buyback program on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the basic materials company to reacquire up to 9.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the transaction, the senior vice president now owns 21,553 shares of the company’s stock, valued at $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value of $1,474,750.00. Following the sale, the chairman now directly owns 436,443 shares of the company’s stock, valued at approximately $25,745,772.57. This represents a 5.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,598 shares of company stock valued at $3,186,432 in the last ninety days. 0.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ATI. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of ATI from a “sell” rating to a “hold” rating in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Susquehanna lowered their target price on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, ATI currently has a consensus rating of “Moderate Buy” and a consensus target price 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.