New York State Common Retirement Fund Increases Stake in ATI Inc. (NYSE:ATI)

New York State Common Retirement Fund grew its position in shares of ATI Inc. (NYSE:ATI) by 13.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 382,489 shares of the basic materials company’s stock after buying an additional 44,164 shares during the quarter. New York State Common Retirement Fund owned 0.27% of ATI worth $21,052,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Creative Planning increased its holdings in ATI by 12.9% during the 3rd quarter. Creative Planning now owns 27,894 shares of the basic materials company’s stock valued at $1,866,000 after acquiring an additional 3,179 shares in the last quarter. Raymond James & Associates increased its holdings in ATI by 159.2% during the 3rd quarter. Raymond James & Associates now owns 119,358 shares of the basic materials company’s stock valued at $7,986,000 after acquiring an additional 73,308 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings 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 acquiring an additional 172 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in ATI by 13.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,333 shares of the basic materials company’s stock valued at $1,093,000 after acquiring an additional 1,936 shares in the last quarter. Finally, Pallas Capital Advisors LLC purchased a new position in ATI during the 3rd quarter valued at about $307,000.

Analyst Upgrades and Downgrades

ATI has been the subject of several recent research reports. Benchmark raised their target price on shares of ATI from $80.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, February 13th. StockNews.com upgraded shares of ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Barclays lifted their price target on shares of ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Susquehanna lifted their price target on shares of ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, ATI has an average rating of “Moderate Buy” and an average target price of $75.00.

ATI Price Performance

ATI stock opened at $57.95 on Friday. ATI Inc. has a 1 year low of $45.61 and a 1 year high of $68.92. The firm has a 50 day moving average price of $57.90 and a 200 day moving average price of $60.04. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 0.90 and a beta of 1.10. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.32 and a current ratio of 2.44.

ATI (NYSE:ATI) last announced its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.07 billion. ATI had a net margin of 8.43% and a return on equity of 21.16%. ATI’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. Sell-side analysts predict that ATI Inc. will post 2.89 earnings per share for the current year.

Insider Buying and Selling at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Tina Killough Busch sold 2,598 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were 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 directly owns 21,553 shares in the company, valued at $1,293,611.06. This represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,498 shares of company stock valued at $2,288,141 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.

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.