ATI Inc. (NYSE:ATI) is Mountaineer Partners Management LLC’s 6th Largest Position

Mountaineer Partners Management LLC increased its holdings in shares of ATI Inc. (NYSE:ATI) by 4,401.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,410,891 shares of the basic materials company’s stock after buying an additional 9,201,818 shares during the period. ATI comprises approximately 5.2% of Mountaineer Partners Management LLC’s investment portfolio, making the stock its 6th largest holding. Mountaineer Partners Management LLC owned approximately 0.07% of ATI worth $629,683,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its position in shares of ATI by 3.3% in the third quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock valued at $360,000 after acquiring an additional 172 shares in the last quarter. Beck Capital Management LLC boosted its stake in ATI by 0.8% during the 2nd quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock worth $1,898,000 after purchasing an additional 262 shares during the last quarter. KBC Group NV grew its holdings in shares of ATI by 12.9% during the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock worth $225,000 after buying an additional 385 shares in the last quarter. Souders Financial Advisors raised its position in shares of ATI by 6.1% in the third quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company’s stock valued at $477,000 after buying an additional 411 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in shares of ATI by 7.5% in the third quarter. Apollon Wealth Management LLC now owns 6,514 shares of the basic materials company’s stock worth $436,000 after buying an additional 457 shares in the last quarter.

ATI Stock Performance

NYSE ATI opened at $59.70 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. The company has a market cap of $8.52 billion, a P/E ratio of 22.96, a P/E/G ratio of 2.06 and a beta of 1.09. The stock has a 50-day moving average of $60.71 and a two-hundred day moving average of $60.57. ATI Inc. has a 1-year low of $38.04 and a 1-year high of $68.92.

ATI (NYSE:ATI) last announced its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the company earned $0.55 earnings per share. ATI’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, analysts anticipate that ATI Inc. will post 2.27 EPS for the current year.

ATI declared that its Board of Directors has initiated a stock repurchase 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 reacquire up to 9.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction on 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 transaction, the chairman now directly owns 486,443 shares of the company’s stock, valued at $30,271,347.89. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.05% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ATI has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective 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 set a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Susquehanna reduced their target price on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. Finally, StockNews.com cut shares of ATI from a “hold” rating to a “sell” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” 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.