ATI Inc. (NYSE:ATI) Stake Raised by Franklin Resources Inc.

Franklin Resources Inc. raised its holdings in shares of ATI Inc. (NYSE:ATI) by 16.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 445,746 shares of the basic materials company’s stock after purchasing an additional 61,999 shares during the period. Franklin Resources Inc.’s holdings in ATI were worth $27,993,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ATI. Mountaineer Partners Management LLC grew its position in ATI by 4,401.2% during the third quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock valued at $629,683,000 after purchasing an additional 9,201,818 shares in the last quarter. Millennium Management LLC boosted its holdings in ATI by 165.1% in the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock worth $107,846,000 after purchasing an additional 1,211,273 shares in the last quarter. Senator Investment Group LP raised its stake in shares of ATI by 167.6% in the 2nd quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company’s stock valued at $49,414,000 after acquiring an additional 558,138 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of ATI in the second quarter valued at approximately $28,896,000. Finally, Forest Avenue Capital Management LP bought a new position in ATI in the 3rd quarter worth $28,700,000.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ATI shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Susquehanna decreased their price target on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.71.

Insider Buying and Selling

In related news, SVP Tina Killough Busch sold 2,598 shares of the firm’s 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 sale, the senior vice president now owns 21,553 shares of the company’s stock, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value of $1,474,750.00. Following the completion of the transaction, the chairman now directly owns 436,443 shares of the company’s stock, valued at approximately $25,745,772.57. The trade was a 5.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,598 shares of company stock valued at $3,186,432 in the last 90 days. 1.05% of the stock is owned by insiders.

ATI Stock Performance

ATI stock opened at $54.21 on Thursday. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. 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 market cap of $7.73 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 1.95 and a beta of 1.09. The business’s fifty day moving average is $58.80 and its 200-day moving average is $60.29.

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

ATI declared that its Board of Directors has authorized a share buyback plan on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 9.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board 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.