ATI Inc. (NYSE:ATI) Shares Purchased by KBC Group NV

KBC Group NV grew its position in shares of ATI Inc. (NYSE:ATI) by 12.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,362 shares of the basic materials company’s stock after purchasing an additional 385 shares during the quarter. KBC Group NV’s holdings in ATI were worth $225,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP bought a new position in ATI during the second quarter valued at about $26,000. UMB Bank n.a. boosted its position in shares of ATI by 557.0% during the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 791 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of ATI by 294.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 1,010 shares during the last quarter. Quest Partners LLC bought a new stake in shares of ATI in the 2nd quarter worth approximately $88,000. Finally, nVerses Capital LLC acquired a new stake in ATI during the second quarter valued at approximately $205,000.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price target on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Benchmark reaffirmed a “buy” rating and set a $80.00 target price on shares of ATI in a research report on Wednesday, August 7th. Susquehanna decreased 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. Deutsche Bank Aktiengesellschaft boosted their price objective on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, ATI has a consensus rating of “Moderate Buy” and a consensus target price of $73.71.

ATI Stock Up 2.5 %

Shares of ATI stock opened at $58.23 on Wednesday. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. ATI Inc. has a 1 year low of $38.04 and a 1 year high of $68.92. The stock has a 50-day moving average price of $61.28 and a 200 day moving average price of $60.62. The company has a market cap of $8.31 billion, a P/E ratio of 22.40, a P/E/G ratio of 1.94 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 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 company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business posted $0.55 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, analysts expect that ATI Inc. will post 2.27 EPS for the current fiscal year.

ATI announced that its board has authorized a share buyback program on Tuesday, September 3rd that permits the company to buyback $700.00 million in shares. This buyback authorization permits the basic materials company to repurchase up to 9.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the completion of the sale, the chairman now owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. This trade represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is currently owned by corporate insiders.

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.