BNP Paribas Financial Markets Reduces Holdings in ATI Inc. (NYSE:ATI)

BNP Paribas Financial Markets lowered its position in ATI Inc. (NYSE:ATI) by 84.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 11,088 shares of the basic materials company’s stock after selling 59,041 shares during the period. BNP Paribas Financial Markets’ holdings in ATI were worth $742,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in ATI in the second quarter valued at about $26,000. UMB Bank n.a. lifted its holdings in shares of ATI by 557.0% in the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 791 shares during the last quarter. Quest Partners LLC purchased a new position in shares of ATI during the 2nd quarter worth approximately $88,000. nVerses Capital LLC acquired a new stake in ATI in the 2nd quarter valued at approximately $205,000. Finally, Forum Financial Management LP purchased a new stake in ATI in the second quarter valued at approximately $211,000.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ATI. StockNews.com upgraded shares of ATI from a “sell” rating to a “hold” rating in a research note on Wednesday. Susquehanna dropped their price objective on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their target price on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $73.71.

Insider Buying and Selling at ATI

In other news, SVP Tina Killough Busch sold 2,598 shares of ATI stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total value of $155,931.96. Following the transaction, the senior vice president now owns 21,553 shares of the company’s stock, valued at $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction on 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 transaction, the chairman now directly owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. This represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,598 shares of company stock worth $4,726,682. 0.71% of the stock is currently owned by company insiders.

ATI Price Performance

ATI opened at $56.02 on Friday. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 1.99 and a beta of 1.09. 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 fifty day simple moving average of $59.49 and a 200 day simple moving average of $60.44.

ATI (NYSE:ATI) last released its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 EPS 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 analysts’ expectations of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.55 earnings per share. Equities research analysts expect that ATI Inc. will post 2.27 EPS for the current fiscal year.

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

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.