BNP Paribas Financial Markets Has $742,000 Stake in ATI Inc. (NYSE:ATI)

BNP Paribas Financial Markets lowered its holdings in shares of ATI Inc. (NYSE:ATI) by 84.2% during the third quarter, HoldingsChannel reports. The firm 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 SEC filing.

A number of other hedge funds also recently modified their holdings of ATI. SG Americas Securities LLC increased its stake in shares of ATI by 202.7% during the 2nd quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company’s stock worth $1,522,000 after purchasing an additional 18,381 shares during the last quarter. Assenagon Asset Management S.A. increased its position in ATI by 17.6% during the second quarter. Assenagon Asset Management S.A. now owns 528,615 shares of the basic materials company’s stock worth $29,312,000 after buying an additional 79,285 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in ATI by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock valued at $139,003,000 after buying an additional 102,691 shares during the period. WINTON GROUP Ltd lifted its position in shares of ATI by 138.1% in the second quarter. WINTON GROUP Ltd now owns 32,485 shares of the basic materials company’s stock valued at $1,801,000 after buying an additional 18,842 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of ATI by 32.9% during the 2nd quarter. Renaissance Technologies LLC now owns 180,192 shares of the basic materials company’s stock worth $9,992,000 after acquiring an additional 44,600 shares during the period.

Insider Activity at ATI

In related 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 transaction of $155,931.96. Following the transaction, the senior vice president now owns 21,553 shares in the company, valued at $1,293,611.06. The trade was a 10.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value of $1,555,750.00. Following the completion of the sale, the chairman now directly owns 486,443 shares of the company’s stock, valued at $30,271,347.89. The trade was a 4.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,598 shares of company stock valued at $4,726,682. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Susquehanna lowered their target price on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.71.

ATI Price Performance

Shares of NYSE ATI opened at $56.02 on Friday. 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 stock has a fifty day simple moving average of $59.49 and a two-hundred day simple moving average of $60.44. ATI Inc. has a 1-year low of $38.04 and a 1-year high of $68.92. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 1.99 and a beta of 1.09.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share 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 company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the firm earned $0.55 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts anticipate that ATI Inc. will post 2.27 earnings per share for the current year.

ATI announced that its Board of Directors has approved a share repurchase program 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 purchase up to 9.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

About ATI

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.