Natixis Advisors LLC Cuts Stake in ATI Inc. (NYSE:ATI)

Key Points

• Natixis Advisors LLC reduced its stake in ATI Inc. by 17.1%, owning 64,338 shares worth $3.35 million after selling 13,229 shares in the latest quarter.
• Other institutional investors like Capital World Investors and Dendur Capital LP significantly increased their stakes in ATI, with Capital World boosting its holdings by 100.5%.
• In its latest quarter, ATI reported earnings of $0.74 per share, surpassing analysts' expectations, while the revenue was slightly below consensus at $1.14 billion.

Natixis Advisors LLC cut its position in shares of ATI Inc. (NYSE:ATI - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 64,338 shares of the basic materials company's stock after selling 13,229 shares during the quarter. Natixis Advisors LLC's holdings in ATI were worth $3,348,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its position in shares of ATI by 104.1% during the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock worth $31,000 after purchasing an additional 304 shares during the last quarter. Bessemer Group Inc. increased its position in ATI by 139.9% during the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock worth $34,000 after buying an additional 386 shares in the last quarter. Olde Wealth Management LLC acquired a new position in shares of ATI in the first quarter worth $36,000. Fifth Third Bancorp raised its holdings in shares of ATI by 115.7% in the first quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock worth $58,000 after acquiring an additional 603 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of ATI by 418.1% in the first quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company's stock valued at $69,000 after acquiring an additional 1,062 shares in the last quarter.

Insider Transactions at ATI

In related news, Director David J. Morehouse sold 7,900 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $75.81, for a total transaction of $598,899.00. Following the completion of the sale, the director owned 44,777 shares of the company's stock, valued at approximately $3,394,544.37. This represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $74.66, for a total transaction of $3,733,000.00. Following the completion of the transaction, the chairman owned 306,538 shares in the company, valued at $22,886,127.08. The trade was a 14.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 203,259 shares of company stock valued at $16,026,385. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on ATI. Benchmark reiterated a "buy" rating and set a $81.00 price objective on shares of ATI in a research report on Monday, April 21st. Deutsche Bank Aktiengesellschaft set a $115.00 price target on shares of ATI and gave the stock a "hold" rating in a report on Tuesday, July 8th. BTIG Research set a $120.00 price objective on shares of ATI and gave the company a "buy" rating in a research report on Monday. Citigroup raised shares of ATI to a "positive" rating in a research note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of ATI from $75.00 to $92.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.29.

ATI Trading Down 0.9%

Shares of ATI traded down $0.67 during mid-day trading on Thursday, hitting $73.80. The company had a trading volume of 1,833,477 shares, compared to its average volume of 2,200,923. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $96.20. The business's 50-day simple moving average is $85.65 and its 200-day simple moving average is $67.80. The stock has a market cap of $10.17 billion, a PE ratio of 25.62, a P/E/G ratio of 1.02 and a beta of 1.20. The company has a quick ratio of 1.20, a current ratio of 2.52 and a debt-to-equity ratio of 0.92.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. ATI had a net margin of 9.26% and a return on equity of 21.34%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business earned $0.60 EPS. ATI's revenue for the quarter was up 4.1% on a year-over-year basis. Sell-side analysts forecast that ATI Inc. will post 2.89 earnings per share for the current year.

About ATI

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.