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

Natixis Advisors LLC increased its position in ATI Inc. (NYSE:ATI - Free Report) by 19.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 77,757 shares of the basic materials company's stock after purchasing an additional 12,875 shares during the quarter. Natixis Advisors LLC owned approximately 0.05% of ATI worth $5,203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its position 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 valued at $364,000 after acquiring an additional 224 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of ATI by 20.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 126,978 shares of the basic materials company's stock worth $6,496,000 after acquiring an additional 21,887 shares during the period. Appian Way Asset Management LP raised its holdings in shares of ATI by 57.6% during the first quarter. Appian Way Asset Management LP now owns 172,408 shares of the basic materials company's stock valued at $8,822,000 after purchasing an additional 63,008 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of ATI by 11.0% during the first quarter. Jane Street Group LLC now owns 106,237 shares of the basic materials company's stock valued at $5,436,000 after purchasing an additional 10,561 shares during the last quarter. Finally, Tidal Investments LLC grew its position in ATI by 143.8% in the 1st quarter. Tidal Investments LLC now owns 11,312 shares of the basic materials company's stock worth $579,000 after purchasing an additional 6,673 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Susquehanna lowered 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. KeyCorp downgraded shares of ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. 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 upped 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. Finally, JPMorgan Chase & Co. raised their price target on ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $73.71.

ATI Trading Up 2.0 %

ATI stock traded up $1.14 during midday trading on Friday, reaching $59.30. 1,062,801 shares of the company traded hands, compared to its average volume of 1,919,762. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 2.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. The business has a 50 day moving average of $61.08 and a 200-day moving average of $60.59. ATI Inc. has a 52-week low of $38.04 and a 52-week high of $68.92.

ATI (NYSE:ATI - Get Free Report) last announced its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (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 firm's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. As a group, sell-side analysts expect that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the chairman now directly owns 486,443 shares in the company, valued at approximately $30,271,347.89. This trade represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.71% of the stock is currently owned by company 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.