GSA Capital Partners LLP Purchases 1,021 Shares of ATI Inc. (NYSE:ATI)

GSA Capital Partners LLP lifted its stake in shares of ATI Inc. (NYSE:ATI) by 15.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,763 shares of the basic materials company’s stock after buying an additional 1,021 shares during the period. GSA Capital Partners LLP’s holdings in ATI were worth $519,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Capital International Investors boosted its position in shares of ATI by 1.3% during the first quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company’s stock valued at $788,524,000 after buying an additional 203,012 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of ATI by 0.9% during the first quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company’s stock valued at $733,720,000 after buying an additional 132,478 shares during the last quarter. Capital World Investors boosted its position in shares of ATI by 43.9% during the first quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company’s stock valued at $145,372,000 after buying an additional 866,310 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of ATI by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock valued at $139,003,000 after buying an additional 102,691 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of ATI by 165.1% during the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock valued at $107,846,000 after buying an additional 1,211,273 shares during the last quarter.

ATI Stock Performance

Shares of ATI opened at $58.23 on Wednesday. The firm has a market cap of $8.31 billion, a PE ratio of 22.40, a PEG ratio of 1.94 and a beta of 1.08. The stock’s fifty day moving average price is $61.28 and its two-hundred day moving average price is $60.62. 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.

ATI (NYSE:ATI) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, equities research analysts forecast that ATI Inc. will post 2.27 EPS for the current year.

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

Insider Buying and Selling at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the sale, the chairman now directly owns 511,443 shares in the company, valued at approximately $31,510,003.23. The trade was a 4.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

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