ATI Inc. (NYSE:ATI) Shares Purchased by Centiva Capital LP

Centiva Capital LP lifted its holdings in shares of ATI Inc. (NYSE:ATI) by 20.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,939 shares of the basic materials company’s stock after buying an additional 3,789 shares during the period. Centiva Capital LP’s holdings in ATI were worth $1,468,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of ATI in the third quarter valued at approximately $491,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in ATI by 177.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 451,982 shares of the basic materials company’s stock valued at $30,242,000 after buying an additional 289,229 shares during the period. PDT Partners LLC raised its position in ATI by 1.2% during the 3rd quarter. PDT Partners LLC now owns 86,475 shares of the basic materials company’s stock worth $5,786,000 after buying an additional 991 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of ATI by 48.1% in the 3rd quarter. Captrust Financial Advisors now owns 6,339 shares of the basic materials company’s stock worth $424,000 after acquiring an additional 2,059 shares during the period. Finally, Hantz Financial Services Inc. purchased a new stake in shares of ATI in the third quarter valued at about $765,000.

ATI Price Performance

ATI stock opened at $59.70 on Wednesday. The stock’s 50 day moving average price is $60.71 and its 200 day moving average price is $60.57. The firm has a market cap of $8.52 billion, a P/E ratio of 22.96, a PEG ratio of 2.06 and a beta of 1.09. 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 1 year low of $38.04 and a 1 year high of $68.92.

ATI (NYSE:ATI) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 EPS. On average, sell-side analysts expect that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

ATI declared that its board has approved a share buyback plan on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at ATI

In other 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 value 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 $30,271,347.89. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.05% of the company’s stock.

Wall Street Analyst Weigh In

ATI has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. lifted 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. Benchmark reiterated a “buy” rating and issued a $80.00 price objective on shares of ATI in a research report on Wednesday, August 7th. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Finally, StockNews.com downgraded shares of ATI from a “hold” rating to a “sell” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.