Souders Financial Advisors Buys 411 Shares of ATI Inc. (NYSE:ATI)

Souders Financial Advisors lifted its stake in shares of ATI Inc. (NYSE:ATI) by 6.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,125 shares of the basic materials company’s stock after purchasing an additional 411 shares during the quarter. Souders Financial Advisors’ holdings in ATI were worth $477,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC raised its position in shares of ATI by 3.3% in the third quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock worth $360,000 after buying an additional 172 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of ATI by 3.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock valued at $364,000 after acquiring an additional 224 shares during the period. Beck Capital Management LLC lifted its holdings in ATI by 0.8% in the 2nd quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock worth $1,898,000 after buying an additional 262 shares during the period. Apollon Wealth Management LLC boosted its holdings in ATI by 7.5% in the third quarter. Apollon Wealth Management LLC now owns 6,514 shares of the basic materials company’s stock valued at $436,000 after acquiring an additional 457 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of ATI in the 2nd quarter worth about $26,000.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the 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 transaction, the chairman now owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. This represents 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. 1.05% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

ATI Trading Down 1.2 %

ATI stock opened at $58.76 on Wednesday. ATI Inc. has a one year low of $38.04 and a one year high of $68.92. The business’s fifty day moving average is $61.50 and its 200 day moving average is $60.63. The stock has a market capitalization of $8.38 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. 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 announced 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 return on equity of 21.39% and a net margin of 8.85%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts predict that ATI Inc. will post 2.27 EPS for the current year.

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

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.