ATI Inc. (NYSE:ATI) Stock Position Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its stake in shares of ATI Inc. (NYSE:ATI) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,966 shares of the basic materials company’s stock after selling 375 shares during the period. The Manufacturers Life Insurance Company’s holdings in ATI were worth $1,670,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its stake 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 valued at $360,000 after acquiring an additional 172 shares during the period. Beck Capital Management LLC boosted its stake in ATI by 0.8% during the 2nd quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock valued at $1,898,000 after purchasing an additional 262 shares in the last quarter. KBC Group NV boosted its stake in ATI by 12.9% during 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 in the last quarter. Souders Financial Advisors increased its position in shares of ATI by 6.1% during 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 period. Finally, Apollon Wealth Management LLC raised its stake in shares of ATI by 7.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 6,514 shares of the basic materials company’s stock worth $436,000 after buying an additional 457 shares in the last quarter.

Insider Activity at ATI

In other ATI news, SVP Tina Killough Busch sold 2,598 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was 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 $1,293,611.06. The trade was a 10.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the chairman now directly owns 486,443 shares in the company, 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 sold 77,598 shares of company stock valued at $4,726,682. 0.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised 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. Susquehanna dropped their price target on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, StockNews.com cut ATI from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.71.

ATI Trading Down 1.5 %

ATI stock opened at $56.69 on Tuesday. ATI Inc. has a 12 month low of $38.04 and a 12 month high of $68.92. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. The stock has a market cap of $8.09 billion, a P/E ratio of 21.80, a P/E/G ratio of 1.99 and a beta of 1.09. The company’s fifty day simple moving average is $59.99 and its 200-day simple moving average is $60.52.

ATI (NYSE:ATI) last issued its earnings results 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). ATI had a net margin of 8.85% and a return on equity of 21.39%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that ATI Inc. will post 2.27 EPS for the current fiscal year.

ATI declared that its Board of Directors has approved a stock repurchase plan on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes 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 leadership 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.