Amalgamated Bank Sells 1,062 Shares of ATI Inc. (NYSE:ATI)

Amalgamated Bank cut its stake in ATI Inc. (NYSE:ATIFree Report) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,424 shares of the basic materials company’s stock after selling 1,062 shares during the quarter. Amalgamated Bank’s holdings in ATI were worth $2,363,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in shares of ATI by 13.7% during the second quarter. Capital International Investors now owns 15,203,027 shares of the basic materials company’s stock valued at $672,430,000 after purchasing an additional 1,827,961 shares in the last quarter. Norges Bank purchased a new position in ATI in the 4th quarter worth about $50,336,000. State Street Corp lifted its stake in ATI by 14.8% during the 1st quarter. State Street Corp now owns 9,941,032 shares of the basic materials company’s stock valued at $266,817,000 after acquiring an additional 1,279,827 shares during the period. 1832 Asset Management L.P. purchased a new stake in shares of ATI during the 1st quarter valued at about $49,299,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of ATI by 1,302.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 712,994 shares of the basic materials company’s stock worth $28,135,000 after acquiring an additional 662,166 shares during the period.

Wall Street Analyst Weigh In

ATI has been the topic of several research reports. KeyCorp raised their target price on shares of ATI from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, December 1st. TheStreet raised ATI from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Finally, Benchmark reissued a “buy” rating and issued a $53.00 target price on shares of ATI in a report on Monday, December 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.40.

Get Our Latest Report on ATI

ATI Trading Up 3.7 %

Shares of ATI stock opened at $42.25 on Monday. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.80 and a quick ratio of 1.53. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 16.83 and a beta of 1.18. ATI Inc. has a 1 year low of $34.10 and a 1 year high of $47.92. The firm has a fifty day moving average price of $42.42 and a 200-day moving average price of $42.52.

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

ATI declared that its board has authorized a share repurchase program on Wednesday, November 29th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the basic materials company to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other ATI news, insider Elliot S. Davis sold 1,789 shares of ATI stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $43.06, for a total transaction of $77,034.34. Following the transaction, the insider now owns 136,050 shares of the company’s stock, valued at $5,858,313. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is currently owned by insiders.

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.

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Institutional Ownership by Quarter for ATI (NYSE:ATI)

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