Swiss National Bank Has $11.63 Million Holdings in ATI Inc. (NYSE:ATI)

Swiss National Bank lifted its stake in ATI Inc. (NYSE:ATIFree Report) by 1.0% during the third quarter, Holdings Channel.com reports. The fund owned 282,600 shares of the basic materials company’s stock after buying an additional 2,800 shares during the period. Swiss National Bank’s holdings in ATI were worth $11,629,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Moody Aldrich Partners LLC increased its position in ATI by 4.3% during the third quarter. Moody Aldrich Partners LLC now owns 116,701 shares of the basic materials company’s stock worth $4,802,000 after buying an additional 4,831 shares during the last quarter. New York State Common Retirement Fund increased its position in ATI by 7.4% during the third quarter. New York State Common Retirement Fund now owns 459,925 shares of the basic materials company’s stock worth $18,926,000 after buying an additional 31,567 shares during the last quarter. Clearstead Advisors LLC increased its position in ATI by 295.9% during the third quarter. Clearstead Advisors LLC now owns 669 shares of the basic materials company’s stock worth $28,000 after buying an additional 500 shares during the last quarter. Jump Financial LLC acquired a new position in ATI during the third quarter worth approximately $204,000. Finally, Arizona State Retirement System increased its position in ATI by 1.4% during the third quarter. Arizona State Retirement System now owns 36,601 shares of the basic materials company’s stock worth $1,506,000 after buying an additional 496 shares during the last quarter.

ATI Trading Up 2.1 %

Shares of ATI stock opened at $43.13 on Tuesday. 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 stock has a market cap of $5.50 billion, a P/E ratio of 17.18 and a beta of 1.18. The stock has a 50 day simple moving average of $42.43 and a 200 day simple moving average of $42.50. ATI Inc. has a 1 year low of $34.10 and a 1 year high of $47.92.

ATI (NYSE:ATIGet Free Report) last issued 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. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. ATI had a return on equity of 24.64% and a net margin of 8.81%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 earnings per share. On average, research analysts predict that ATI Inc. will post 2.34 earnings per share for the current fiscal year.

ATI announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 29th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the basic materials company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity at ATI

In related news, insider Elliot S. Davis sold 1,789 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 136,050 shares in the company, valued at $5,858,313. The sale was disclosed in a filing with the SEC, which is available at this link. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ATI has been the topic of a number of recent analyst reports. Benchmark reissued a “buy” rating and set a $53.00 price target on shares of ATI in a research report on Monday, December 4th. KeyCorp boosted their price target on ATI from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, December 1st. Finally, TheStreet raised ATI from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. One investment 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 has a consensus rating of “Moderate Buy” and an average price target of $51.40.

Check Out Our Latest Report on ATI

About ATI

(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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