nVerses Capital LLC Has $549,000 Stake in ATI Inc. (NYSE:ATI)

nVerses Capital LLC boosted its position in shares of ATI Inc. (NYSE:ATI) by 121.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,200 shares of the basic materials company’s stock after buying an additional 4,500 shares during the period. nVerses Capital LLC’s holdings in ATI were worth $549,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ATI. Wellington Management Group LLP grew its stake in ATI by 6.6% during the fourth quarter. Wellington Management Group LLP now owns 317,487 shares of the basic materials company’s stock worth $14,436,000 after buying an additional 19,669 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in ATI by 0.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 84,050 shares of the basic materials company’s stock worth $3,822,000 after buying an additional 216 shares in the last quarter. GAMMA Investing LLC grew its stake in ATI by 46.5% during the first quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock worth $96,000 after buying an additional 593 shares in the last quarter. Hennessy Advisors Inc. grew its stake in ATI by 44.0% during the first quarter. Hennessy Advisors Inc. now owns 111,200 shares of the basic materials company’s stock worth $5,690,000 after buying an additional 34,000 shares in the last quarter. Finally, Register Financial Advisors LLC grew its stake in ATI by 1.5% during the first quarter. Register Financial Advisors LLC now owns 61,153 shares of the basic materials company’s stock worth $3,129,000 after buying an additional 900 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ATI shares. Benchmark reiterated a “buy” rating and set a $80.00 price objective on shares of ATI in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Susquehanna began coverage on shares of ATI in a report on Thursday, September 5th. They set a “positive” rating and a $75.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, BTIG Research began coverage on shares of ATI in a report on Wednesday, June 26th. They set a “buy” rating and a $70.00 price target on the stock. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.43.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction that occurred 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 $30,271,347.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.71% of the company’s stock.

ATI Trading Up 0.5 %

ATI opened at $63.33 on Friday. ATI Inc. has a fifty-two week low of $35.03 and a fifty-two week high of $68.92. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 1.41 and a beta of 1.04. The company’s 50 day moving average price is $63.47 and its two-hundred day moving average price is $59.52.

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

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