National Bank of Canada FI Makes New $1.80 Million Investment in ATI Inc. (NYSE:ATI)

National Bank of Canada FI bought a new stake in shares of ATI Inc. (NYSE:ATI) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 26,900 shares of the basic materials company’s stock, valued at approximately $1,800,000.

Several other large investors have also recently made changes to their positions in ATI. Quarry LP purchased a new position in ATI in the second quarter valued at $26,000. UMB Bank n.a. grew its position in shares of ATI by 557.0% during the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 791 shares during the period. Quest Partners LLC purchased a new position in shares of ATI in the 2nd quarter valued at about $88,000. nVerses Capital LLC acquired a new position in ATI in the 2nd quarter worth about $205,000. Finally, Forum Financial Management LP purchased a new position in ATI during the second quarter worth approximately $211,000.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at ATI

In related news, SVP Tina Killough Busch sold 2,598 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total value of $155,931.96. Following the transaction, the senior vice president now directly owns 21,553 shares in the company, valued at approximately $1,293,611.06. This represents a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $61.61, for a total value of $1,540,250.00. Following the sale, the chairman now directly owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,598 shares of company stock worth $4,726,682 in the last three months. 0.71% of the stock is owned by corporate insiders.

ATI Stock Performance

ATI opened at $56.49 on Friday. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. The firm has a market capitalization of $8.06 billion, a PE ratio of 21.73, a PEG ratio of 1.98 and a beta of 1.09. 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 firm’s 50-day moving average price is $59.31 and its 200 day moving average price is $60.41.

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

ATI announced that its Board of Directors has initiated a share repurchase program on Tuesday, September 3rd that allows the company to buyback $700.00 million in shares. This buyback authorization allows the basic materials company to purchase up to 9.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.