ATI Inc. (NYSE:ATI) Stock Position Increased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC increased its position in shares of ATI Inc. (NYSE:ATIFree Report) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,869 shares of the basic materials company’s stock after acquiring an additional 2,248 shares during the quarter. Mutual of America Capital Management LLC owned 0.11% of ATI worth $5,591,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Covestor Ltd increased its stake in ATI by 148.1% in the 2nd quarter. Covestor Ltd now owns 603 shares of the basic materials company’s stock valued at $27,000 after buying an additional 360 shares during the period. Clearstead Advisors LLC grew its position in ATI by 295.9% in the third quarter. Clearstead Advisors LLC now owns 669 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 500 shares in the last quarter. Twin Tree Management LP bought a new stake in ATI in the second quarter worth approximately $31,000. Penserra Capital Management LLC bought a new stake in ATI in the second quarter worth approximately $32,000. Finally, Belpointe Asset Management LLC grew its position in ATI by 65.3% in the first quarter. Belpointe Asset Management LLC now owns 843 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 333 shares in the last quarter.

Insider Buying and Selling

In other ATI news, insider Elliot S. Davis sold 1,789 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $43.06, for a total transaction of $77,034.34. Following the sale, the insider now owns 136,050 shares of the company’s stock, valued at approximately $5,858,313. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

ATI Trading Up 3.7 %

Shares of ATI stock opened at $42.25 on Monday. ATI Inc. has a 52-week low of $34.10 and a 52-week high of $47.92. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 16.83 and a beta of 1.18. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.53 and a current ratio of 2.80. The firm has a fifty day moving average of $42.42 and a 200-day moving average of $42.52.

ATI (NYSE:ATIGet Free Report) last announced its earnings results on Thursday, February 1st. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 8.81% and a return on equity of 24.64%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. On average, equities research analysts forecast that ATI Inc. will post 2.34 earnings per share for the current fiscal year.

ATI announced that its Board of Directors has approved a share repurchase program on Wednesday, November 29th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Analysis 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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