ATI Inc. (NYSE:ATI) Shares Sold by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC lessened its position in shares of ATI Inc. (NYSE:ATI) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,563 shares of the basic materials company’s stock after selling 2,782 shares during the quarter. ATI comprises about 1.8% of Moody Aldrich Partners LLC’s investment portfolio, making the stock its 3rd largest position. Moody Aldrich Partners LLC owned approximately 0.12% of ATI worth $9,740,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ATI. Quarry LP bought a new stake in shares of ATI during the 2nd quarter valued at $26,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of ATI during the first quarter worth $51,000. UMB Bank n.a. increased its holdings in ATI by 557.0% in the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in ATI by 294.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock valued at $69,000 after buying an additional 1,010 shares during the period. Finally, Quest Partners LLC bought a new position in ATI during the second quarter worth about $88,000.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ATI shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday. Susquehanna assumed coverage on ATI in a research note on Thursday, September 5th. They issued a “positive” rating and a $75.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Benchmark reiterated a “buy” rating and issued a $80.00 price objective on shares of ATI in a research report on Wednesday, August 7th. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.43.

Insider Transactions at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI 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 sale, the chairman now owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.71% of the company’s stock.

ATI Stock Down 2.0 %

NYSE:ATI traded down $1.25 during trading hours on Thursday, reaching $61.61. 175,879 shares of the stock were exchanged, compared to its average volume of 1,405,394. The stock has a market cap of $7.67 billion, a PE ratio of 24.65, a PEG ratio of 1.42 and a beta of 1.04. ATI Inc. has a twelve month low of $36.21 and a twelve month high of $68.92. The firm has a 50 day moving average of $63.51 and a 200 day moving average of $59.92. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07.

ATI (NYSE:ATI) last announced its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. On average, equities analysts expect that ATI Inc. will post 2.47 earnings per share for the current year.

ATI declared that its board has authorized a stock repurchase 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 repurchase up to 9.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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.