New York State Teachers Retirement System Reduces Holdings in ATI Inc. (NYSE:ATI)

New York State Teachers Retirement System reduced its stake in ATI Inc. (NYSE:ATI) by 8.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 153,720 shares of the basic materials company’s stock after selling 14,591 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of ATI worth $8,524,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Asset Management L.P. increased its stake in ATI by 1,393.2% during the 4th quarter. Point72 Asset Management L.P. now owns 1,539,536 shares of the basic materials company’s stock valued at $70,003,000 after purchasing an additional 1,436,436 shares in the last quarter. Norges Bank acquired a new position in shares of ATI in the 4th quarter valued at $55,855,000. Capital World Investors increased its position in shares of ATI by 43.9% in the 1st quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company’s stock valued at $145,372,000 after acquiring an additional 866,310 shares during the period. Frontier Capital Management Co. LLC raised its stake in ATI by 19.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock worth $165,767,000 after acquiring an additional 594,644 shares during the last quarter. Finally, Senator Investment Group LP acquired a new stake in ATI during the 1st quarter worth about $17,040,000.

ATI Stock Up 3.1 %

ATI stock opened at $67.17 on Friday. ATI Inc. has a one year low of $35.03 and a one year high of $68.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.07 and a current ratio of 2.13. The firm’s fifty day moving average is $60.15 and its 200 day moving average is $55.20. The firm has a market cap of $8.36 billion, a PE ratio of 26.98, a P/E/G ratio of 1.57 and a beta of 1.07.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. ATI had a return on equity of 23.05% and a net margin of 8.74%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the firm earned $0.59 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts forecast that ATI Inc. will post 2.47 EPS for the current year.

Analyst Ratings Changes

ATI has been the topic of a number of research reports. Northcoast Research lowered ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. KeyCorp raised their price target on shares of ATI from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. lifted their price objective on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Barclays boosted their target price on shares of ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, ATI has an average rating of “Moderate Buy” and a consensus target price of $73.83.

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.