Teacher Retirement System of Texas Makes New Investment in ATI Inc. (NYSE:ATI)

Teacher Retirement System of Texas purchased a new stake in shares of ATI Inc. (NYSE:ATI) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,890 shares of the basic materials company’s stock, valued at approximately $1,243,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Keystone Financial Group boosted its stake in ATI by 5.3% during the fourth quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company’s stock valued at $217,000 after buying an additional 200 shares during the last quarter. Pier 88 Investment Partners LLC lifted its stake in shares of ATI by 3.0% in the 4th quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company’s stock valued at $419,000 after purchasing an additional 220 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of ATI by 20.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company’s stock valued at $95,000 after purchasing an additional 288 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of ATI by 104.1% in the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 304 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in shares of ATI by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 54,250 shares of the basic materials company’s stock valued at $2,986,000 after purchasing an additional 340 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, May 20th. Benchmark reaffirmed a “buy” rating and issued a $81.00 price objective on shares of ATI in a research note on Monday, April 21st. Citigroup raised ATI to a “positive” rating in a research note on Tuesday, May 20th. BTIG Research set a $105.00 price objective on ATI and gave the company a “buy” rating in a research note on Wednesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft set a $115.00 price objective on ATI and gave the company a “hold” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, ATI presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.71.

Insider Buying and Selling

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the transaction, the chairman directly owned 506,538 shares in the company, valued at $34,535,760.84. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 195,359 shares of company stock worth $15,103,486. Company insiders own 1.10% of the company’s stock.

ATI Price Performance

Shares of ATI stock opened at $89.28 on Friday. ATI Inc. has a 52-week low of $39.23 and a 52-week high of $89.48. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.30 and a current ratio of 2.53. The firm has a market capitalization of $12.59 billion, a P/E ratio of 32.35, a P/E/G ratio of 1.19 and a beta of 1.13. The stock has a 50 day moving average price of $80.75 and a 200 day moving average price of $63.73.

ATI (NYSE:ATI) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. ATI had a return on equity of 21.37% and a net margin of 8.93%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company earned $0.48 EPS. ATI’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts predict that ATI Inc. will post 2.89 earnings per share for the current year.

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.