Natixis Advisors LLC Grows Holdings in ATI Inc. (NYSE:ATI)

Natixis Advisors LLC boosted its holdings in ATI Inc. (NYSE:ATI) by 19.8% in the 3rd quarter, Holdings Channel reports. The firm owned 77,757 shares of the basic materials company’s stock after purchasing an additional 12,875 shares during the period. Natixis Advisors LLC’s holdings in ATI were worth $5,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CIBC Asset Management Inc purchased a new stake in ATI in the 3rd quarter valued at $249,000. ING Groep NV purchased a new stake in ATI in the 3rd quarter valued at $3,212,000. KBC Group NV raised its position in ATI by 12.9% in the 3rd quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock valued at $225,000 after purchasing an additional 385 shares during the last quarter. Souders Financial Advisors raised its position in ATI by 6.1% in the 3rd quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company’s stock valued at $477,000 after purchasing an additional 411 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in ATI by 15.1% in the 3rd quarter. GSA Capital Partners LLP now owns 7,763 shares of the basic materials company’s stock valued at $519,000 after purchasing an additional 1,021 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. boosted 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. Benchmark reissued a “buy” rating and issued a $80.00 price objective on shares of ATI in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Finally, Susquehanna lowered their price target 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, ATI currently has an average rating of “Moderate Buy” and a consensus price target of $73.71.

ATI Price Performance

Shares of NYSE ATI opened at $59.30 on Friday. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.01 and a beta of 1.08. ATI Inc. has a 52 week low of $38.04 and a 52 week high of $68.92. The company’s 50-day moving average price is $61.08 and its 200 day moving average price is $60.59. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97.

ATI (NYSE:ATI) last issued its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. ATI’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. As a group, research analysts forecast that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

ATI declared that its board has initiated a share buyback plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the basic materials company to purchase up to 9.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction dated 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.71% of the stock is owned by corporate insiders.

ATI 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.