Maven Securities LTD Takes Position in ATI Inc. (NYSE:ATI)

Maven Securities LTD acquired a new stake in ATI Inc. (NYSE:ATI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,750 shares of the basic materials company’s stock, valued at approximately $1,723,000.

Several other hedge funds also recently made changes to their positions in the company. Mountaineer Partners Management LLC increased its stake in shares of ATI by 4,401.2% during the 3rd quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock worth $629,683,000 after purchasing an additional 9,201,818 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of ATI by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock valued at $139,003,000 after acquiring an additional 102,691 shares during the last quarter. Millennium Management LLC raised its stake 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 valued at $107,846,000 after purchasing an additional 1,211,273 shares during the last quarter. Federated Hermes Inc. lifted its holdings in ATI by 4.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company’s stock valued at $94,412,000 after purchasing an additional 70,812 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position 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 buying an additional 24,224 shares during the last quarter.

ATI Stock Performance

ATI stock opened at $59.70 on Wednesday. The firm has a 50-day moving average price of $60.71 and a two-hundred day moving average price of $60.57. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 2.06 and a beta of 1.09. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. ATI Inc. has a 52-week low of $38.04 and a 52-week high of $68.92.

ATI (NYSE:ATI) last released its 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). 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 quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. Sell-side analysts expect that ATI Inc. will post 2.27 earnings per share for the current year.

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

Insider Transactions at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s 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 transaction, the chairman now owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ATI. Deutsche Bank Aktiengesellschaft increased their price target on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Susquehanna dropped their price objective on shares of 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 set a $80.00 price target on shares of ATI in a research report on Wednesday, August 7th. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Finally, StockNews.com downgraded shares of ATI from a “hold” rating to a “sell” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.71.

ATI Company 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.