Hancock Whitney Corp Has $1.03 Million Stock Holdings in ATI Inc. (NYSE:ATI)

Hancock Whitney Corp trimmed its stake in shares of ATI Inc. (NYSE:ATI) by 67.4% during the third quarter, Holdings Channel reports. The firm owned 15,361 shares of the basic materials company’s stock after selling 31,797 shares during the period. Hancock Whitney Corp’s holdings in ATI were worth $1,028,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Quarry LP acquired a new stake in ATI in the 2nd quarter valued at $26,000. UMB Bank n.a. boosted its stake in shares of ATI by 557.0% in the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 791 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of ATI by 294.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 1,010 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of ATI during the 2nd quarter worth about $88,000. Finally, GAMMA Investing LLC lifted its holdings in ATI by 66.0% during the 3rd quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company’s stock valued at $224,000 after purchasing an additional 1,330 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have recently weighed in on ATI shares. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Benchmark reiterated a “buy” rating and issued a $80.00 price objective on shares of ATI in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Susquehanna reduced their price target on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.71.

Insider Transactions at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 511,443 shares in the company, valued at $31,510,003.23. This trade represents a 4.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.05% of the company’s stock.

ATI Stock Up 0.8 %

NYSE:ATI opened at $60.63 on Wednesday. The firm has a market capitalization of $8.65 billion, a P/E ratio of 23.32, a P/E/G ratio of 2.08 and a beta of 1.08. ATI Inc. has a 12-month low of $38.04 and a 12-month high of $68.92. The stock’s fifty day simple moving average is $61.05 and its 200-day simple moving average is $60.59. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97.

ATI (NYSE:ATI) 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 the consensus estimate of $0.66 by ($0.06). The business 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 firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share. Equities research analysts expect that ATI Inc. will post 2.27 earnings per share for the current year.

ATI declared that its Board of Directors has approved a share repurchase plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the basic materials company to buy up to 9.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is 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.