ATI Inc. (NYSE:ATI) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its holdings in ATI Inc. (NYSE:ATI) by 22.5% during the 4th quarter, Holdings Channel reports. 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’s holdings in ATI were worth $16,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in ATI. Palestra Capital Management LLC increased its position in 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 valued at $90,148,000 after acquiring an additional 1,957,416 shares during the period. Hawk Ridge Capital Management LP acquired a new stake in ATI in the 3rd quarter valued at approximately $18,727,000. Allspring Global Investments Holdings LLC increased its position in ATI by 36.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,660,875 shares of the basic materials company’s stock valued at $68,345,000 after acquiring an additional 446,027 shares during the period. Charles Schwab Investment Management Inc. increased its position in ATI by 34.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,581,625 shares of the basic materials company’s stock valued at $65,084,000 after acquiring an additional 404,797 shares during the period. Finally, Victory Capital Management Inc. increased its position in ATI by 67.3% in the 3rd quarter. Victory Capital Management Inc. now owns 973,372 shares of the basic materials company’s stock valued at $40,054,000 after acquiring an additional 391,554 shares during the period.

ATI Price Performance

ATI opened at $51.75 on Monday. The stock has a fifty day moving average of $49.61 and a 200-day moving average of $44.66. The firm has a market capitalization of $6.44 billion, a P/E ratio of 20.62, a PEG ratio of 1.46 and a beta of 1.22. ATI Inc. has a 12-month low of $34.10 and a 12-month high of $52.98. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The company 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 company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. Equities analysts forecast that ATI Inc. will post 2.26 EPS for the current fiscal year.

Insider Activity

In other news, VP Timothy J. Harris sold 6,325 shares of the 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 sale, the vice president now owns 109,331 shares in the company, valued at $4,640,007.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ATI shares. TheStreet raised ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Deutsche Bank Aktiengesellschaft started coverage on ATI in a research note on Thursday, April 11th. They set a “buy” rating and a $70.00 price target for the company. Finally, KeyCorp increased their price target on ATI from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, ATI presently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

About ATI

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.