Swiss National Bank Decreases Stock Holdings in ATI Inc. (NYSE:ATI)

Swiss National Bank trimmed its holdings in shares of ATI Inc. (NYSE:ATI) by 0.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 243,100 shares of the basic materials company’s stock after selling 1,700 shares during the quarter. Swiss National Bank owned 0.17% of ATI worth $16,266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Dimensional Fund Advisors LP increased 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 acquiring an additional 102,691 shares during the last quarter. Millennium Management LLC increased 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 acquiring an additional 1,211,273 shares during the last quarter. Federated Hermes Inc. increased its position in ATI by 4.3% in the second quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company’s stock worth $94,412,000 after buying an additional 70,812 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in ATI by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,849 shares of the basic materials company’s stock worth $75,792,000 after buying an additional 14,664 shares during the last quarter. Finally, Senator Investment Group LP increased its position in ATI by 167.6% in the second quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company’s stock worth $49,414,000 after buying an additional 558,138 shares during the last quarter.

Insider Transactions at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value of $1,555,750.00. Following the completion of the transaction, the chairman now directly owns 486,443 shares in the company, valued at approximately $30,271,347.89. This represents a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.71% of the company’s stock.

ATI Price Performance

Shares of NYSE 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 stock has a fifty day moving average of $61.08 and a 200-day moving average of $60.59. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. The stock has a market cap of $8.46 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08.

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). ATI had a return on equity of 21.39% and a net margin of 8.85%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. ATI’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that ATI Inc. will post 2.27 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Benchmark reissued a “buy” rating and issued a $80.00 target price on shares of ATI in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. 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 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 target price of $73.71.

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.