BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Position in ATI Inc. (NYSE:ATI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of ATI Inc. (NYSE:ATI) by 177.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 451,982 shares of the basic materials company’s stock after buying an additional 289,229 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.32% of ATI worth $30,242,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new stake in shares of ATI in the second quarter worth about $26,000. UMB Bank n.a. grew its position 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 acquiring an additional 791 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of ATI by 294.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock valued at $69,000 after purchasing an additional 1,010 shares during the period. Quest Partners LLC acquired a new position in shares of ATI during the second quarter worth $88,000. Finally, nVerses Capital LLC purchased a new position in shares of ATI in the second quarter valued at $205,000.

Insiders Place Their Bets

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’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 sale, the chairman now owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.71% of the stock is owned by insiders.

ATI Stock Performance

Shares of ATI stock opened at $60.18 on Friday. ATI Inc. has a 12-month low of $38.04 and a 12-month high of $68.92. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 2.08 and a beta of 1.08. The business has a 50 day simple moving average of $60.89 and a 200 day simple moving average of $60.58.

ATI (NYSE:ATI) last issued its quarterly earnings results 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). ATI had a net margin of 8.85% and a return on equity of 21.39%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business posted $0.55 earnings per share. ATI’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts anticipate that ATI Inc. will post 2.27 EPS for the current year.

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

Analyst Upgrades and Downgrades

ATI has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating and set a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft increased 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. Susquehanna lowered their target price on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Finally, KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $73.71.

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.