ATI Inc. (NYSE:ATI) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC cut its position in ATI Inc. (NYSE:ATI) by 16.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 658,312 shares of the basic materials company’s stock after selling 128,425 shares during the period. Fisher Asset Management LLC’s holdings in ATI were worth $44,048,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Algert Global LLC boosted its holdings in ATI by 197.5% during the 3rd quarter. Algert Global LLC now owns 72,632 shares of the basic materials company’s stock valued at $4,860,000 after acquiring an additional 48,220 shares during the period. Cerity Partners LLC lifted its position in shares of ATI by 149.4% during the third quarter. Cerity Partners LLC now owns 15,071 shares of the basic materials company’s stock worth $1,008,000 after purchasing an additional 9,027 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of ATI by 39.1% during the third quarter. Eagle Asset Management Inc. now owns 242,644 shares of the basic materials company’s stock worth $16,235,000 after purchasing an additional 68,265 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of ATI by 1.8% in 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 purchasing an additional 24,224 shares during the period. Finally, L & S Advisors Inc acquired a new position in shares of ATI in the third quarter valued at approximately $1,279,000.

ATI Trading Up 0.8 %

ATI opened at $60.63 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. ATI Inc. has a one year low of $38.04 and a one year high of $68.92. The company has a market cap of $8.65 billion, a P/E ratio of 23.32, a PEG ratio of 2.05 and a beta of 1.08. The business’s 50-day simple moving average is $61.05 and its 200-day simple moving average is $60.59.

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 the consensus estimate of $0.66 by ($0.06). ATI had a net margin of 8.85% and a return on equity of 21.39%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.12 billion. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. As a group, equities research analysts expect that ATI Inc. will post 2.27 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ATI shares. Benchmark reiterated a “buy” rating and set a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Susquehanna lowered their target price on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their price target on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, 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 note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.71.

Insider Activity at ATI

In related 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 sale, the chairman now directly owns 486,443 shares of the company’s stock, valued at $30,271,347.89. This represents a 4.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.05% of the company’s stock.

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.