26,900 Shares in ATI Inc. (NYSE:ATI) Bought by National Bank of Canada FI

National Bank of Canada FI purchased a new stake in shares of ATI Inc. (NYSE:ATI) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 26,900 shares of the basic materials company’s stock, valued at approximately $1,800,000.

Other large investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC raised its stake in ATI by 3.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock valued at $360,000 after purchasing an additional 172 shares during the period. Beck Capital Management LLC raised its position in shares of ATI by 0.8% during the second quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock valued at $1,898,000 after buying an additional 262 shares during the last quarter. KBC Group NV lifted its holdings in shares of ATI by 12.9% in the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock worth $225,000 after buying an additional 385 shares in the last quarter. Souders Financial Advisors boosted its position in shares of ATI by 6.1% during the third quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company’s stock worth $477,000 after acquiring an additional 411 shares during the last quarter. Finally, Quarry LP grew its stake in ATI by 86.4% during the third quarter. Quarry LP now owns 889 shares of the basic materials company’s stock valued at $59,000 after acquiring an additional 412 shares in the last quarter.

Wall Street Analyst Weigh In

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

Insider Activity

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the completion of the sale, the chairman now directly owns 486,443 shares in the company, valued at approximately $30,271,347.89. The trade was a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Tina Killough Busch sold 2,598 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 77,598 shares of company stock valued at $4,726,682 over the last ninety days. 0.71% of the stock is currently owned by insiders.

ATI Stock Up 0.9 %

NYSE ATI opened at $56.49 on Friday. ATI Inc. has a 52 week low of $38.04 and a 52 week high of $68.92. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.98 and a beta of 1.09. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. The company has a fifty day moving average of $59.31 and a two-hundred day moving average of $60.41.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the company posted $0.55 EPS. ATI’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, analysts predict that ATI Inc. will post 2.27 earnings per share for the current year.

ATI announced that its Board of Directors has authorized a stock repurchase program on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 9.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board 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.