New York State Common Retirement Fund Has $23.55 Million Stock Position in ATI Inc. $ATI

New York State Common Retirement Fund boosted its stake in shares of ATI Inc. (NYSE:ATI) by 27.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 289,516 shares of the basic materials company’s stock after purchasing an additional 63,060 shares during the quarter. New York State Common Retirement Fund’s holdings in ATI were worth $23,549,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of ATI by 2.4% during the second quarter. Geode Capital Management LLC now owns 2,435,916 shares of the basic materials company’s stock valued at $210,353,000 after acquiring an additional 57,883 shares during the period. Norges Bank purchased a new stake in shares of ATI in the second quarter valued at $146,726,000. Charles Schwab Investment Management Inc. boosted its position in shares of ATI by 0.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,497,433 shares of the basic materials company’s stock worth $129,288,000 after buying an additional 4,917 shares during the period. Bowen Hanes & Co. Inc. grew its holdings in shares of ATI by 0.3% during the second quarter. Bowen Hanes & Co. Inc. now owns 1,375,560 shares of the basic materials company’s stock valued at $118,766,000 after buying an additional 4,225 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in ATI by 11.7% during the second quarter. Raymond James Financial Inc. now owns 943,789 shares of the basic materials company’s stock valued at $81,487,000 after buying an additional 98,537 shares during the period.

ATI Trading Down 1.2%

Shares of ATI stock opened at $120.21 on Friday. The firm’s fifty day simple moving average is $113.67 and its 200 day simple moving average is $94.60. The firm has a market capitalization of $16.33 billion, a P/E ratio of 38.90, a price-to-earnings-growth ratio of 1.17 and a beta of 1.02. The company has a current ratio of 2.50, a quick ratio of 1.18 and a debt-to-equity ratio of 0.94. ATI Inc. has a 1 year low of $39.23 and a 1 year high of $127.11.

Analyst Upgrades and Downgrades

ATI has been the subject of a number of research reports. BTIG Research restated a “buy” rating and set a $120.00 price objective on shares of ATI in a research report on Wednesday, October 29th. Susquehanna restated a “positive” rating and set a $145.00 price target on shares of ATI in a report on Thursday, January 15th. JPMorgan Chase & Co. upped their price objective on shares of ATI from $118.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Deutsche Bank Aktiengesellschaft set a $98.00 target price on shares of ATI in a research note on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ATI in a research note on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.75.

Insider Buying and Selling at ATI

In related news, SVP Tina Killough Busch sold 2,598 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $93.26, for a total transaction of $242,289.48. Following the completion of the sale, the senior vice president owned 21,274 shares in the company, valued at $1,984,013.24. This trade represents a 10.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Robert S. Wetherbee sold 53,862 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $109.48, for a total value of $5,896,811.76. Following the completion of the transaction, the chairman directly owned 132,676 shares in the company, valued at approximately $14,525,368.48. This represents a 28.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 158,630 shares of company stock worth $16,144,855 over the last three months. Company insiders own 1.10% of the company’s stock.

ATI Profile

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.