ATI Inc. (NYSE:ATI) Position Decreased by Hancock Whitney Corp

Hancock Whitney Corp trimmed its holdings in shares of ATI Inc. (NYSE:ATI) by 67.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,361 shares of the basic materials company’s stock after selling 31,797 shares during the period. Hancock Whitney Corp’s holdings in ATI were worth $1,028,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in ATI by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock worth $139,003,000 after purchasing an additional 102,691 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of ATI by 165.1% in the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock valued at $107,846,000 after purchasing an additional 1,211,273 shares in the last quarter. Federated Hermes Inc. boosted its position in ATI by 4.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company’s stock worth $94,412,000 after acquiring an additional 70,812 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of ATI by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,239 shares of the basic materials company’s stock valued at $91,750,000 after purchasing an additional 24,224 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of ATI by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,849 shares of the basic materials company’s stock worth $75,792,000 after purchasing an additional 14,664 shares in the last quarter.

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.05% of the company’s stock.

ATI Stock Up 0.8 %

ATI stock opened at $60.63 on Wednesday. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 2.08 and a beta of 1.08. The firm has a fifty day moving average price of $61.05 and a two-hundred day moving average price of $60.59. ATI Inc. has a fifty-two week low of $38.04 and a fifty-two week high of $68.92. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44.

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). The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. ATI’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS. As a group, analysts forecast that ATI Inc. will post 2.27 earnings per share for the current year.

ATI declared that its Board of Directors has approved a stock repurchase program on Tuesday, September 3rd that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the basic materials company to purchase up to 9.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Susquehanna cut their price target on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.71.

About ATI

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.