Royce & Associates LP Sells 39,090 Shares of ATI Inc. (NYSE:ATI)

Royce & Associates LP lessened its position in shares of ATI Inc. (NYSE:ATI) by 14.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 226,122 shares of the basic materials company’s stock after selling 39,090 shares during the quarter. Royce & Associates LP’s holdings in ATI were worth $15,130,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC raised its stake in shares of ATI by 202.7% during the 2nd quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company’s stock worth $1,522,000 after acquiring an additional 18,381 shares in the last quarter. First Hawaiian Bank bought a new position in shares of ATI during the 2nd quarter worth approximately $757,000. Assenagon Asset Management S.A. raised its stake in shares of ATI by 17.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 528,615 shares of the basic materials company’s stock worth $29,312,000 after acquiring an additional 79,285 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of ATI by 20.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 126,978 shares of the basic materials company’s stock worth $6,496,000 after acquiring an additional 21,887 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of ATI by 1.3% during the 1st quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company’s stock worth $788,524,000 after acquiring an additional 203,012 shares in the last quarter.

Insider Buying and Selling

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the sale, the chairman now directly 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

ATI Stock Down 0.1 %

NYSE:ATI opened at $56.16 on Friday. The firm has a market capitalization of $8.01 billion, a P/E ratio of 21.60, a PEG ratio of 2.01 and a beta of 1.08. ATI Inc. has a 1-year low of $38.04 and a 1-year high of $68.92. The company’s fifty day moving average price is $61.36 and its 200-day moving average price is $60.61. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The business had revenue of $1.05 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS. As a group, equities research analysts anticipate that ATI Inc. will post 2.27 EPS for the current year.

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

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.