Oppenheimer & Co. Inc. Sells 2,966 Shares of ATI Inc. (NYSE:ATI)

Oppenheimer & Co. Inc. reduced its stake in shares of ATI Inc. (NYSE:ATIFree Report) by 16.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,253 shares of the basic materials company’s stock after selling 2,966 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in ATI were worth $628,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ATI. HighTower Advisors LLC acquired a new stake in shares of ATI during the 1st quarter worth $263,000. Natixis Advisors L.P. acquired a new stake in shares of ATI during the 1st quarter worth $570,000. MetLife Investment Management LLC grew its holdings in shares of ATI by 70.4% during the 1st quarter. MetLife Investment Management LLC now owns 68,697 shares of the basic materials company’s stock worth $1,844,000 after purchasing an additional 28,376 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of ATI by 4.4% during the 1st quarter. Rhumbline Advisers now owns 347,984 shares of the basic materials company’s stock worth $9,340,000 after purchasing an additional 14,825 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of ATI by 1.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 110,936 shares of the basic materials company’s stock worth $3,056,000 after purchasing an additional 1,480 shares in the last quarter.

Insider Buying and Selling at ATI

In other ATI news, insider Elliot S. Davis sold 1,789 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $43.06, for a total value of $77,034.34. Following the completion of the transaction, the insider now directly owns 136,050 shares in the company, valued at $5,858,313. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.71% of the company’s stock.

ATI Price Performance

ATI stock opened at $42.25 on Friday. The company has a current ratio of 2.80, a quick ratio of 1.53 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $5.39 billion, a PE ratio of 16.83 and a beta of 1.18. ATI Inc. has a 12 month low of $34.10 and a 12 month high of $47.92. The stock has a 50-day moving average price of $42.42 and a two-hundred day moving average price of $42.58.

ATI (NYSE:ATIGet Free Report) last posted its earnings results on Thursday, February 1st. The basic materials company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. ATI had a return on equity of 24.64% and a net margin of 8.81%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. Analysts expect that ATI Inc. will post 2.34 EPS for the current year.

ATI declared that its Board of Directors has initiated a share buyback program on Wednesday, November 29th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the basic materials company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. KeyCorp raised their price objective on ATI from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, December 1st. TheStreet raised ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Finally, Benchmark reaffirmed a “buy” rating and issued a $53.00 price objective on shares of ATI in a research note on Monday, December 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, ATI currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.40.

Check Out Our Latest Analysis on ATI

ATI Company Profile

(Free Report)

ATI Inc manufactures and sells specialty materials and 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, 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.

Further Reading

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Institutional Ownership by Quarter for ATI (NYSE:ATI)

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