Qsemble Capital Management LP Takes Position in ATI Inc. (NYSE:ATI)

Qsemble Capital Management LP purchased a new stake in ATI Inc. (NYSE:ATI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,760 shares of the basic materials company’s stock, valued at approximately $452,000.

Several other large investors have also modified their holdings of the business. Bank of Montreal Can boosted its position in ATI by 38.4% during the third quarter. Bank of Montreal Can now owns 157,254 shares of the basic materials company’s stock worth $10,421,000 after acquiring an additional 43,648 shares during the last quarter. Algert Global LLC boosted its position in ATI by 197.5% during the third quarter. Algert Global LLC now owns 72,632 shares of the basic materials company’s stock worth $4,860,000 after acquiring an additional 48,220 shares during the last quarter. Cerity Partners LLC boosted its position in ATI by 149.4% during the third quarter. Cerity Partners LLC now owns 15,071 shares of the basic materials company’s stock worth $1,008,000 after acquiring an additional 9,027 shares during the last quarter. Eagle Asset Management Inc. boosted its position in ATI by 39.1% during the third quarter. Eagle Asset Management Inc. now owns 242,644 shares of the basic materials company’s stock worth $16,235,000 after acquiring an additional 68,265 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in ATI by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,239 shares of the basic materials company’s stock worth $91,750,000 after acquiring an additional 24,224 shares during the last quarter.

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction on Monday, September 16th. The shares were sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the sale, the chairman now owns 511,443 shares of the company’s stock, valued at $31,510,003.23. The trade was a 4.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

ATI has been the topic of a number of analyst reports. Susquehanna decreased their target price on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Benchmark reiterated a “buy” rating and issued a $80.00 price target 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 report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.71.

ATI Stock Performance

Shares of ATI stock opened at $60.12 on Thursday. The company’s fifty day simple moving average is $61.03 and its 200-day simple moving average is $60.59. ATI Inc. has a 52 week low of $38.04 and a 52 week high of $68.92. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The company has a market cap of $8.58 billion, a PE ratio of 23.12, a P/E/G ratio of 2.08 and a beta of 1.08.

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

ATI announced that its board has initiated a stock buyback program on Tuesday, September 3rd that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the basic materials company to buy up to 9.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

ATI 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.