Mengis Capital Management Inc. Acquires 748 Shares of ATI Inc. (NYSE:ATI)

Mengis Capital Management Inc. increased its holdings in shares of ATI Inc. (NYSE:ATIFree Report) by 1.1% during the third quarter, Holdings Channel reports. The fund owned 71,602 shares of the basic materials company’s stock after acquiring an additional 748 shares during the quarter. Mengis Capital Management Inc.’s holdings in ATI were worth $2,946,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in ATI. HighTower Advisors LLC bought a new stake in shares of ATI during the 1st quarter valued at $263,000. Natixis Advisors L.P. bought a new stake in shares of ATI during the 1st quarter worth $570,000. MetLife Investment Management LLC lifted its position in shares of ATI by 70.4% during the 1st quarter. MetLife Investment Management LLC now owns 68,697 shares of the basic materials company’s stock worth $1,844,000 after buying an additional 28,376 shares during the last quarter. Rhumbline Advisers lifted its position in shares of ATI by 4.4% during the 1st quarter. Rhumbline Advisers now owns 347,984 shares of the basic materials company’s stock worth $9,340,000 after buying an additional 14,825 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in ATI by 1.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 110,936 shares of the basic materials company’s stock worth $3,056,000 after purchasing an additional 1,480 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have issued reports on ATI shares. KeyCorp upped their target price on ATI from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, December 1st. TheStreet raised ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Finally, Benchmark reissued a “buy” rating and issued a $53.00 price target on shares of ATI in a research note on Monday, December 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, ATI has a consensus rating of “Moderate Buy” and a consensus price target of $51.40.

Get Our Latest Report on ATI

Insider Activity at ATI

In related news, insider Elliot S. Davis sold 1,789 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $43.06, for a total transaction of $77,034.34. Following the completion of the sale, the insider now directly owns 136,050 shares of the company’s stock, valued at $5,858,313. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is currently owned by company insiders.

ATI Stock Up 2.0 %

NYSE:ATI traded up $0.83 on Monday, hitting $43.08. The stock had a trading volume of 1,919,987 shares, compared to its average volume of 1,433,186. ATI Inc. has a 52 week low of $34.10 and a 52 week high of $47.92. The company has a quick ratio of 1.53, a current ratio of 2.80 and a debt-to-equity ratio of 1.45. The business’s fifty day moving average is $42.42 and its 200 day moving average is $42.52. The company has a market cap of $5.50 billion, a PE ratio of 16.83 and a beta of 1.18.

ATI (NYSE:ATIGet Free Report) last posted its earnings results on Thursday, February 1st. The basic materials company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. ATI had a return on equity of 24.64% and a net margin of 8.81%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $0.53 earnings per share. On average, equities research analysts expect that ATI Inc. will post 2.34 EPS for the current fiscal year.

ATI announced that its board has initiated a share buyback program on Wednesday, November 29th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the basic materials company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

ATI Company Profile

(Free Report)

ATI Inc manufactures and sells specialty materials and 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, 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.

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Institutional Ownership by Quarter for ATI (NYSE:ATI)

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