New York State Teachers Retirement System Increases Position in ATI Inc. (NYSE:ATI)

New York State Teachers Retirement System lifted its holdings in ATI Inc. (NYSE:ATI) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 175,709 shares of the basic materials company’s stock after buying an additional 2,598 shares during the period. New York State Teachers Retirement System owned approximately 0.14% of ATI worth $7,989,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of ATI by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 14,354,401 shares of the basic materials company’s stock worth $381,970,000 after buying an additional 527,117 shares during the last quarter. State Street Corp boosted its stake in shares of ATI by 14.8% in the 1st quarter. State Street Corp now owns 9,941,032 shares of the basic materials company’s stock worth $266,817,000 after buying an additional 1,279,827 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ATI by 4.5% in the 1st quarter. Geode Capital Management LLC now owns 2,357,077 shares of the basic materials company’s stock worth $93,010,000 after buying an additional 101,022 shares during the last quarter. Palestra Capital Management LLC raised its holdings in shares of ATI by 839.0% in the 3rd quarter. Palestra Capital Management LLC now owns 2,190,728 shares of the basic materials company’s stock worth $90,148,000 after purchasing an additional 1,957,416 shares during the period. Finally, Norges Bank bought a new stake in shares of ATI in the 4th quarter worth approximately $50,336,000.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ATI. Deutsche Bank Aktiengesellschaft began coverage on shares of ATI in a report on Thursday. They issued a “buy” rating and a $70.00 price target on the stock. TheStreet raised shares of ATI from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Finally, KeyCorp lifted their price target on shares of ATI from $49.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.67.

Insider Buying and Selling at ATI

In other news, VP Timothy J. Harris sold 6,325 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.44, for a total value of $268,433.00. Following the transaction, the vice president now owns 109,331 shares of the company’s stock, valued at $4,640,007.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.71% of the company’s stock.

ATI Trading Up 4.0 %

Shares of ATI stock opened at $52.09 on Friday. The company’s fifty day simple moving average is $47.72 and its two-hundred day simple moving average is $43.87. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.80 and a quick ratio of 1.53. ATI Inc. has a 1 year low of $34.10 and a 1 year high of $52.48. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 20.75 and a beta of 1.22.

ATI (NYSE:ATI) last issued its earnings results on Thursday, February 1st. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. ATI had a net margin of 8.81% and a return on equity of 24.64%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that ATI Inc. will post 2.27 earnings per share for the current year.

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.