ATI Inc. $ATI Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in ATI Inc. (NYSE:ATI) by 27.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 289,516 shares of the basic materials company’s stock after purchasing an additional 63,060 shares during the period. New York State Common Retirement Fund owned approximately 0.21% of ATI worth $23,549,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ATI. Royal Bank of Canada raised its stake in shares of ATI by 8.1% during the first quarter. Royal Bank of Canada now owns 60,369 shares of the basic materials company’s stock valued at $3,140,000 after purchasing an additional 4,542 shares during the period. Goldman Sachs Group Inc. increased its holdings in ATI by 49.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 633,948 shares of the basic materials company’s stock worth $32,984,000 after purchasing an additional 209,480 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of ATI by 10.9% during the second quarter. Farther Finance Advisors LLC now owns 1,459 shares of the basic materials company’s stock worth $126,000 after buying an additional 143 shares in the last quarter. Signaturefd LLC increased its stake in shares of ATI by 117.7% in the second quarter. Signaturefd LLC now owns 381 shares of the basic materials company’s stock worth $33,000 after buying an additional 206 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in ATI by 2.8% in the second quarter. Truist Financial Corp now owns 7,217 shares of the basic materials company’s stock valued at $623,000 after acquiring an additional 197 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ATI shares. JPMorgan Chase & Co. raised their price objective on shares of ATI from $118.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Deutsche Bank Aktiengesellschaft set a $98.00 price target on ATI in a research note on Wednesday, October 8th. KeyCorp upped their price objective on ATI from $120.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. BTIG Research reaffirmed a “buy” rating and set a $120.00 target price on shares of ATI in a report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of ATI in a report on Monday, December 29th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.75.

ATI Trading Down 1.2%

ATI stock opened at $120.21 on Friday. ATI Inc. has a 12-month low of $39.23 and a 12-month high of $127.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.50 and a quick ratio of 1.18. The stock has a market capitalization of $16.33 billion, a PE ratio of 38.90, a price-to-earnings-growth ratio of 1.17 and a beta of 1.02. The firm has a 50 day simple moving average of $113.67 and a 200-day simple moving average of $94.60.

Insiders Place Their Bets

In related news, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction that occurred on 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 directly owned 21,274 shares in the company, valued at approximately $1,984,013.24. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Timothy J. Harris sold 10,542 shares of ATI stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $97.88, for a total transaction of $1,031,850.96. Following the completion of the transaction, the vice president owned 98,310 shares in the company, valued at approximately $9,622,582.80. This trade represents a 9.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 158,630 shares of company stock worth $16,144,855. 1.10% of the stock is owned by corporate insiders.

About ATI

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.