ATI Inc. (NYSE:ATI) Shares Sold by Mengis Capital Management Inc.

Mengis Capital Management Inc. lessened its holdings in shares of ATI Inc. (NYSE:ATI) by 1.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 78,802 shares of the basic materials company’s stock after selling 1,150 shares during the period. ATI accounts for 1.0% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 23rd biggest holding. Mengis Capital Management Inc.’s holdings in ATI were worth $5,273,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in ATI in the second quarter valued at $26,000. UMB Bank n.a. grew its stake in ATI by 557.0% during the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock worth $62,000 after buying an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in ATI by 294.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after buying an additional 1,010 shares during the period. Quest Partners LLC acquired a new position in ATI during the second quarter worth approximately $88,000. Finally, nVerses Capital LLC purchased a new stake in ATI in the second quarter valued at approximately $205,000.

Insider Buying and Selling at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now owns 486,443 shares in the company, valued at $30,271,347.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.05% of the stock is owned by corporate insiders.

ATI Trading Down 1.2 %

NYSE ATI opened at $58.76 on Wednesday. ATI Inc. has a 52-week low of $38.04 and a 52-week high of $68.92. The firm has a 50-day moving average price of $61.50 and a 200 day moving average price of $60.63. The stock has a market capitalization of $8.38 billion, a P/E ratio of 22.60, a P/E/G ratio of 2.05 and a beta of 1.08. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97.

ATI (NYSE:ATI) last issued its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). ATI had a return on equity of 21.39% and a net margin of 8.85%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the company posted $0.55 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. Equities research analysts expect that ATI Inc. will post 2.27 EPS for the current year.

ATI declared that its Board of Directors has initiated a share buyback plan on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 9.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ATI. Benchmark reaffirmed a “buy” rating and issued a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Susquehanna reduced their price objective on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, ATI presently has an average rating of “Moderate Buy” and a consensus target price of $73.71.

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.