Algert Global LLC Purchases 48,220 Shares of ATI Inc. (NYSE:ATI)

Algert Global LLC raised its position in shares of ATI Inc. (NYSE:ATI) by 197.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,632 shares of the basic materials company’s stock after buying an additional 48,220 shares during the period. Algert Global LLC’s holdings in ATI were worth $4,860,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of ATI by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock worth $139,003,000 after purchasing an additional 102,691 shares during the last quarter. Millennium Management LLC lifted its holdings in ATI by 165.1% in the 2nd quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock worth $107,846,000 after buying an additional 1,211,273 shares during the period. Federated Hermes Inc. increased its stake in shares of ATI by 4.3% during the second quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company’s stock valued at $94,412,000 after buying an additional 70,812 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of ATI by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,239 shares of the basic materials company’s stock valued at $91,750,000 after buying an additional 24,224 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of ATI by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,849 shares of the basic materials company’s stock valued at $75,792,000 after acquiring an additional 14,664 shares in the last quarter.

ATI Price Performance

NYSE ATI opened at $59.30 on Monday. ATI Inc. has a one year low of $38.04 and a one year high of $68.92. The stock has a 50-day moving average of $61.08 and a 200 day moving average of $60.60. 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 company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.05 and a beta of 1.08.

ATI (NYSE:ATI) last announced 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). The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 earnings per share. On average, sell-side analysts forecast that ATI Inc. will post 2.27 EPS for the current year.

ATI announced that its Board of Directors has approved a share buyback plan on Tuesday, September 3rd that allows the company to buyback $700.00 million in shares. This buyback authorization allows the basic materials company to purchase up to 9.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $61.61, for a total value of $1,540,250.00. Following the transaction, the chairman now directly owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. This trade represents a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Susquehanna reduced their price target on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their target price on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Benchmark restated a “buy” rating and issued a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.