L & S Advisors Inc Takes $1.28 Million Position in ATI Inc. (NYSE:ATI)

L & S Advisors Inc acquired a new position in shares of ATI Inc. (NYSE:ATI) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 19,112 shares of the basic materials company’s stock, valued at approximately $1,279,000.

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

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on 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 owns 511,443 shares in the company, valued at approximately $31,510,003.23. This represents a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

ATI Stock Down 0.2 %

Shares of ATI stock opened at $57.90 on Friday. ATI Inc. has a one year low of $38.04 and a one year high of $68.92. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. The stock’s 50-day moving average is $61.13 and its 200 day moving average is $60.59. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 2.01 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 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 return on equity of 21.39% and a net margin of 8.85%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.55 EPS. Equities research analysts anticipate that ATI Inc. will post 2.27 EPS for the current year.

ATI declared that its Board of Directors has initiated a stock repurchase program on Tuesday, September 3rd that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ATI. Deutsche Bank Aktiengesellschaft upped their target price on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price target on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Susquehanna decreased their price target on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Benchmark reissued a “buy” rating and issued a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th. Finally, KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, ATI has an average rating of “Moderate Buy” and an average price target of $73.71.

About ATI

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.