Hancock Whitney Corp Sells 31,797 Shares of ATI Inc. (NYSE:ATI)

Hancock Whitney Corp trimmed its position in shares of ATI Inc. (NYSE:ATI - Free Report) by 67.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,361 shares of the basic materials company's stock after selling 31,797 shares during the quarter. Hancock Whitney Corp's holdings in ATI were worth $1,028,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its position in shares of ATI by 3.3% during the third quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company's stock worth $360,000 after purchasing an additional 172 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of ATI by 3.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company's stock worth $364,000 after acquiring an additional 224 shares during the period. Beck Capital Management LLC raised its holdings in shares of ATI by 0.8% during the second quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company's stock worth $1,898,000 after acquiring an additional 262 shares during the period. KBC Group NV raised its holdings in shares of ATI by 12.9% during the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company's stock worth $225,000 after acquiring an additional 385 shares during the period. Finally, Souders Financial Advisors raised its holdings in shares of ATI by 6.1% during the third quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company's stock worth $477,000 after acquiring an additional 411 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ATI shares. Susquehanna dropped their price objective 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. KeyCorp lowered shares of ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Finally, Benchmark reiterated a "buy" rating and issued a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, ATI currently has a consensus rating of "Moderate Buy" and an average target price of $73.71.

ATI Stock Performance

Shares of ATI stock traded down $0.51 during trading on Wednesday, hitting $60.12. 714,476 shares of the stock were exchanged, compared to its average volume of 1,450,252. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 2.08 and a beta of 1.08. The company has a fifty day moving average price of $61.03 and a 200-day moving average price of $60.59. ATI Inc. has a 1-year low of $38.04 and a 1-year high of $68.92. 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 - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 earnings per share. As a group, equities analysts predict that ATI Inc. will post 2.27 EPS for the current fiscal year.

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

Insider Transactions at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the completion of the sale, the chairman now owns 486,443 shares of the company's stock, valued at approximately $30,271,347.89. The trade was a 4.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.05% of the stock is owned by company insiders.

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.