Bank of New York Mellon Corp Decreases Stock Position in ATS Co. (NYSE:ATS)

Bank of New York Mellon Corp cut its holdings in ATS Co. (NYSE:ATS) by 8.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,770 shares of the company’s stock after selling 1,268 shares during the quarter. Bank of New York Mellon Corp’s holdings in ATS were worth $445,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of ATS in the fourth quarter valued at about $40,685,000. JARISLOWSKY FRASER Ltd grew its holdings in ATS by 6.5% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 63,194 shares of the company’s stock worth $2,737,000 after acquiring an additional 3,867 shares during the period. TD Asset Management Inc grew its holdings in ATS by 7.9% during the fourth quarter. TD Asset Management Inc now owns 637,517 shares of the company’s stock worth $27,608,000 after acquiring an additional 46,641 shares during the period. The Manufacturers Life Insurance Company grew its holdings in ATS by 10.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 517,284 shares of the company’s stock worth $22,331,000 after acquiring an additional 47,896 shares during the period. Finally, ACK Asset Management LLC grew its holdings in ATS by 6.8% during the fourth quarter. ACK Asset Management LLC now owns 1,304,980 shares of the company’s stock worth $56,205,000 after acquiring an additional 83,639 shares during the period. 75.84% of the stock is currently owned by hedge funds and other institutional investors.

ATS Stock Performance

NYSE ATS opened at $29.68 on Wednesday. The company has a market cap of $2.91 billion, a PE ratio of 20.33 and a beta of 1.18. The stock’s 50 day simple moving average is $27.98 and its 200-day simple moving average is $31.20. ATS Co. has a 1-year low of $24.82 and a 1-year high of $44.70. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.79 and a quick ratio of 1.51.

ATS (NYSE:ATS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $507.43 million for the quarter, compared to analysts’ expectations of $502.41 million. ATS had a return on equity of 14.63% and a net margin of 6.11%. As a group, equities research analysts anticipate that ATS Co. will post 1.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on ATS. The Goldman Sachs Group dropped their target price on ATS from $34.00 to $30.00 and set a “sell” rating on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. lowered their price target on ATS from $36.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.00.

ATS Profile

ATS Corporation, together with its subsidiaries, provides automation solutions worldwide. The company is also involved in planning, designing, building, commissioning, and servicing automated manufacturing and assembly systems, including automation products and test solutions. In addition, it offers pre-automation services comprising discovery and analysis, concept development, simulation, and total cost of ownership modelling; post automation services, including training, process optimization, preventative maintenance, emergency and on-call support, spare parts, retooling, retrofits, and equipment relocation; and contract manufacturing services, as well as after sales and services.