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

BNP Paribas Financial Markets reduced its position in shares of ATI Inc. (NYSE:ATI - Free Report) by 84.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,088 shares of the basic materials company's stock after selling 59,041 shares during the quarter. BNP Paribas Financial Markets' holdings in ATI were worth $742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in ATI by 202.7% in the 2nd quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company's stock worth $1,522,000 after buying an additional 18,381 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in ATI by 22.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,397 shares of the basic materials company's stock worth $798,000 after acquiring an additional 2,646 shares during the period. Assenagon Asset Management S.A. boosted its holdings in ATI by 17.6% in the second quarter. Assenagon Asset Management S.A. now owns 528,615 shares of the basic materials company's stock valued at $29,312,000 after acquiring an additional 79,285 shares in the last quarter. Raymond James & Associates increased its position in ATI by 318.6% during the 2nd quarter. Raymond James & Associates now owns 46,050 shares of the basic materials company's stock valued at $2,553,000 after purchasing an additional 35,048 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new position in ATI in the 2nd quarter worth $226,000.

Insider Activity at ATI

In other ATI 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 completion of the sale, the senior vice president now owns 21,553 shares of the company's stock, valued at approximately $1,293,611.06. The trade was a 10.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the sale, the chairman now owns 486,443 shares of the company's stock, valued at approximately $30,271,347.89. This represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,598 shares of company stock valued at $4,726,682 over the last 90 days. Corporate insiders own 0.71% of the company's stock.

ATI Stock Up 0.9 %

NYSE:ATI traded up $0.48 during trading hours on Friday, reaching $56.49. 1,214,526 shares of the company traded hands, compared to its average volume of 1,437,247. 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 business's 50-day moving average price is $59.49 and its two-hundred day moving average price is $60.44. ATI Inc. has a 1 year low of $38.04 and a 1 year high of $68.92. The stock has a market capitalization of $8.06 billion, a P/E ratio of 21.73, a P/E/G ratio of 1.98 and a beta of 1.09.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.06). The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The business's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS. Analysts predict that ATI Inc. will post 2.27 earnings per share for the current year.

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

Wall Street Analyst Weigh In

ATI has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target 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. Susquehanna reduced their target price on ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their target price on ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. StockNews.com raised ATI from a "sell" rating to a "hold" rating in a research note on Wednesday. Finally, KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $73.71.

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.