New York State Common Retirement Fund Lowers Stock Holdings in ATI Inc. (NYSE:ATI)

New York State Common Retirement Fund reduced its stake in ATI Inc. (NYSE:ATI) by 22.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 356,241 shares of the basic materials company’s stock after selling 103,684 shares during the quarter. New York State Common Retirement Fund owned 0.28% of ATI worth $16,198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Evergreen Capital Management LLC boosted its stake in shares of ATI by 4.1% in the third quarter. Evergreen Capital Management LLC now owns 6,582 shares of the basic materials company’s stock valued at $271,000 after buying an additional 258 shares in the last quarter. Inspire Investing LLC raised its holdings in ATI by 4.1% during the third quarter. Inspire Investing LLC now owns 7,409 shares of the basic materials company’s stock worth $305,000 after purchasing an additional 291 shares during the last quarter. Covestor Ltd raised its holdings in ATI by 73.1% during the third quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 441 shares during the last quarter. Joule Financial LLC raised its holdings in ATI by 5.9% during the third quarter. Joule Financial LLC now owns 8,544 shares of the basic materials company’s stock worth $352,000 after purchasing an additional 475 shares during the last quarter. Finally, Advisor Partners II LLC raised its holdings in ATI by 2.4% during the third quarter. Advisor Partners II LLC now owns 20,762 shares of the basic materials company’s stock worth $854,000 after purchasing an additional 490 shares during the last quarter.

Insider Activity at ATI

In related news, VP Timothy J. Harris sold 6,325 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $42.44, for a total value of $268,433.00. Following the completion of the transaction, the vice president now directly owns 109,331 shares in the company, valued at $4,640,007.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.05% of the company’s stock.

ATI Stock Performance

NYSE ATI opened at $51.75 on Monday. ATI Inc. has a fifty-two week low of $34.10 and a fifty-two week high of $52.98. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 1.46 and a beta of 1.22. The business has a fifty day moving average of $49.61 and a 200-day moving average of $44.66. The company has a quick ratio of 1.53, a current ratio of 2.80 and a debt-to-equity ratio of 1.45.

ATI (NYSE:ATI) last released its earnings results on Thursday, February 1st. The basic materials company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. ATI had a return on equity of 24.64% and a net margin of 8.81%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. As a group, analysts predict that ATI Inc. will post 2.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ATI has been the subject of several research reports. KeyCorp lifted their price objective on ATI from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on ATI in a report on Thursday, April 11th. They set a “buy” rating and a $70.00 price objective for the company. Finally, TheStreet raised ATI from a “c+” rating to a “b-” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $56.00.

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.