Hancock Whitney Corp Has $2.62 Million Holdings in ATI Inc. (NYSE:ATI)

Hancock Whitney Corp decreased its position in shares of ATI Inc. (NYSE:ATI) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,158 shares of the basic materials company’s stock after selling 868 shares during the period. Hancock Whitney Corp’s holdings in ATI were worth $2,615,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. increased its position in ATI by 1,393.2% in the 4th quarter. Point72 Asset Management L.P. now owns 1,539,536 shares of the basic materials company’s stock worth $70,003,000 after buying an additional 1,436,436 shares during the period. Norges Bank bought a new position in ATI during the fourth quarter worth $55,855,000. Capital World Investors raised its stake in ATI by 43.9% during the 1st quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company’s stock valued at $145,372,000 after purchasing an additional 866,310 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in ATI by 19.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock valued at $165,767,000 after purchasing an additional 594,644 shares during the period. Finally, Senator Investment Group LP acquired a new stake in ATI in the 1st quarter worth $17,040,000.

ATI Trading Down 1.3 %

Shares of NYSE ATI opened at $63.84 on Friday. ATI Inc. has a fifty-two week low of $35.03 and a fifty-two week high of $68.92. The firm has a market capitalization of $7.95 billion, a P/E ratio of 25.64, a P/E/G ratio of 1.51 and a beta of 1.04. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07. The company’s 50 day simple moving average is $62.60 and its 200 day simple moving average is $57.61.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. ATI had a return on equity of 23.05% and a net margin of 8.74%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts predict that ATI Inc. will post 2.48 EPS for the current year.

ATI announced that its Board of Directors has approved a stock buyback plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. BTIG Research began coverage on ATI in a research report on Wednesday, June 26th. They set a “buy” rating and a $70.00 price target on the stock. KeyCorp lifted their price objective on ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Finally, Benchmark reissued a “buy” rating and issued a $80.00 price objective on shares of ATI in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, ATI presently has an average rating of “Moderate Buy” and an average price target of $74.00.

Insiders Place Their Bets

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $61.61, for a total value of $1,540,250.00. Following the completion of the sale, the chairman now directly owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.71% of the company’s stock.

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.