UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $38.82 Million Stock Holdings in ATI Inc. (NYSE:ATI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of ATI Inc. (NYSE:ATI) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 580,194 shares of the basic materials company’s stock after purchasing an additional 7,854 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in ATI were worth $38,821,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in ATI by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock worth $139,003,000 after buying an additional 102,691 shares in the last quarter. Millennium Management LLC boosted its position in shares of ATI by 165.1% during the 2nd quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock worth $107,846,000 after acquiring an additional 1,211,273 shares in the last quarter. Federated Hermes Inc. increased its stake in ATI by 4.3% in the second quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company’s stock valued at $94,412,000 after acquiring an additional 70,812 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in ATI by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,239 shares of the basic materials company’s stock valued at $91,750,000 after purchasing an additional 24,224 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in ATI by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,849 shares of the basic materials company’s stock worth $75,792,000 after purchasing an additional 14,664 shares during the last quarter.

ATI Price Performance

Shares of NYSE:ATI opened at $59.70 on Wednesday. The firm has a market cap of $8.52 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 2.06 and a beta of 1.09. ATI Inc. has a 52 week low of $38.04 and a 52 week high of $68.92. The firm’s fifty day moving average is $60.71 and its 200-day moving average is $60.57. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94.

ATI (NYSE:ATI) last released 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 company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm posted $0.55 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Sell-side analysts predict that ATI Inc. will post 2.27 earnings per share for the current year.

ATI declared that its board has initiated a stock repurchase plan 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 buy up to 9.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently commented on ATI. Deutsche Bank Aktiengesellschaft boosted their price target on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. increased their target price on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Susquehanna decreased their price target on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. StockNews.com downgraded shares of ATI from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Benchmark reaffirmed a “buy” rating and set a $80.00 target price on shares of ATI in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.71.

Insider Buying and Selling at ATI

In other 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 value of $1,555,750.00. Following the transaction, the chairman now owns 486,443 shares in the company, valued at approximately $30,271,347.89. The trade was a 4.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.05% of the company’s stock.

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.