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

Mengis Capital Management Inc. grew its position in ATI Inc. (NYSE:ATIFree Report) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,602 shares of the basic materials company’s stock after buying an additional 748 shares during the quarter. Mengis Capital Management Inc. owned 0.06% of ATI worth $2,946,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ATI. Schroder Investment Management Group grew its stake in ATI by 3.7% during the 2nd quarter. Schroder Investment Management Group now owns 203,154 shares of the basic materials company’s stock worth $8,986,000 after purchasing an additional 7,189 shares in the last quarter. Creative Planning acquired a new position in shares of ATI during the 2nd quarter worth about $269,000. Capital International Investors boosted its position in shares of ATI by 13.7% during the 2nd quarter. Capital International Investors now owns 15,203,027 shares of the basic materials company’s stock worth $672,430,000 after acquiring an additional 1,827,961 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of ATI by 67.3% during the 3rd quarter. Victory Capital Management Inc. now owns 973,372 shares of the basic materials company’s stock worth $40,054,000 after acquiring an additional 391,554 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of ATI by 9.5% during the 2nd quarter. Sei Investments Co. now owns 267,423 shares of the basic materials company’s stock worth $11,828,000 after acquiring an additional 23,101 shares in the last quarter.

Analyst Upgrades and Downgrades

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

View Our Latest Analysis on ATI

Insider Transactions at ATI

In other ATI news, insider Elliot S. Davis sold 1,789 shares of the business’s stock in a transaction dated Thursday, January 4th. The stock was 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 in the company, valued at $5,858,313. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

ATI Price Performance

NYSE:ATI traded up $0.83 during trading hours on Monday, reaching $43.08. 1,919,987 shares of the company traded hands, compared to its average volume of 1,433,186. The firm’s 50-day moving average is $42.42 and its 200-day moving average is $42.52. The stock has a market cap of $5.50 billion, a P/E ratio of 16.83 and a beta of 1.18. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.80 and a quick ratio of 1.53. ATI Inc. has a 1-year low of $34.10 and a 1-year high of $47.92.

ATI (NYSE:ATIGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that ATI Inc. will post 2.34 earnings per share for the current fiscal year.

ATI announced that its Board of Directors has authorized a stock buyback plan on Wednesday, November 29th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the basic materials company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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

Institutional Ownership by Quarter for ATI (NYSE:ATI)

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