Hancock Whitney Corp Has $2.62 Million Stake in ATI Inc. (NYSE:ATI)

Hancock Whitney Corp lowered its holdings in shares of ATI Inc. (NYSE:ATI) by 1.8% during the second quarter, HoldingsChannel reports. The firm owned 47,158 shares of the basic materials company’s stock after selling 868 shares during the quarter. Hancock Whitney Corp’s holdings in ATI were worth $2,615,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ATI. Benjamin F. Edwards & Company Inc. acquired a new stake in ATI during the 1st quarter worth approximately $51,000. EverSource Wealth Advisors LLC raised its stake 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 valued at $69,000 after purchasing an additional 1,010 shares during the period. Quest Partners LLC bought a new stake in shares of ATI in the second quarter valued at about $88,000. GAMMA Investing LLC boosted its position in shares of ATI by 46.5% during the first quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock worth $96,000 after buying an additional 593 shares during the period. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in shares of ATI by 211.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,651 shares of the basic materials company’s stock worth $121,000 after buying an additional 1,800 shares in the last quarter.

ATI Price Performance

Shares of ATI opened at $63.84 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. The company’s fifty day simple moving average is $62.60 and its 200 day simple moving average is $57.61. ATI Inc. has a 1-year low of $35.03 and a 1-year high of $68.92. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.51 and a beta of 1.04.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. ATI had a net margin of 8.74% and a return on equity of 23.05%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business earned $0.59 EPS. ATI’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts forecast that ATI Inc. will post 2.48 earnings per share for the current fiscal year.

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

Insider Buying and Selling at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 511,443 shares of the company’s stock, valued at $31,510,003.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ATI shares. Susquehanna began coverage on ATI in a research note on Thursday, September 5th. They issued a “positive” rating and a $75.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Benchmark restated a “buy” rating and set a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, KeyCorp increased their price objective on shares of ATI from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.00.

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.