Verition Fund Management LLC Invests $1.73 Million in Atotech Limited (NYSE:ATC)

Verition Fund Management LLC acquired a new position in shares of Atotech Limited (NYSE:ATC) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 85,495 shares of the company’s stock, valued at approximately $1,731,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. UBS Group AG purchased a new stake in Atotech during the 1st quarter valued at $71,000. Pinz Capital Management LP purchased a new stake in Atotech during the 1st quarter valued at $100,000. Royal Bank of Canada purchased a new stake in Atotech during the 1st quarter valued at $135,000. Laurion Capital Management LP purchased a new stake in Atotech during the 1st quarter valued at $203,000. Finally, Ameriprise Financial Inc. purchased a new stake in Atotech during the 1st quarter valued at $477,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of ATC stock opened at $24.65 on Thursday. Atotech Limited has a 1-year low of $17.00 and a 1-year high of $26.67. The company’s 50-day moving average is $24.36. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.27 and a current ratio of 1.64.

Atotech (NYSE:ATC) last issued its quarterly earnings data on Monday, May 3rd. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.64). The company had revenue of $353.10 million during the quarter, compared to the consensus estimate of $331.61 million. The business’s quarterly revenue was up 24.9% on a year-over-year basis. On average, equities analysts anticipate that Atotech Limited will post 0.67 earnings per share for the current fiscal year.

ATC has been the topic of several recent research reports. UBS Group lowered Atotech from a “buy” rating to a “neutral” rating and decreased their price target for the company from $27.00 to $26.00 in a report on Tuesday, July 6th. CL King started coverage on Atotech in a research report on Thursday, July 1st. They issued a “neutral” rating on the stock. BMO Capital Markets downgraded Atotech from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 1st. Zacks Investment Research downgraded Atotech from a “hold” rating to a “sell” rating in a research report on Wednesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded Atotech from a “buy” rating to a “hold” rating and upped their price objective for the company from $25.00 to $26.00 in a research report on Friday, July 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.11.

Atotech Profile

Atotech Limited, a chemicals technology company, provides specialty electroplating and surface finishing solutions worldwide. The company operates in two segments, Electronics (EL) and General Metal Finishing (GMF). The EL segment manufactures and supplies chemistry, production equipment, and services to the electronics industry, which include printed circuit board manufacturers, package substrate makers, and semiconductor companies.

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Institutional Ownership by Quarter for Atotech (NYSE:ATC)

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