California Public Employees Retirement System lessened its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 22.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 155,284 shares of the basic materials company's stock after selling 44,304 shares during the quarter. California Public Employees Retirement System owned approximately 0.11% of ATI worth $8,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of ATI. ORG Wealth Partners LLC purchased a new position in ATI during the fourth quarter valued at $25,000. Quarry LP lifted its position in shares of ATI by 86.4% during the 3rd quarter. Quarry LP now owns 889 shares of the basic materials company's stock valued at $59,000 after buying an additional 412 shares in the last quarter. Mainstream Capital Management LLC bought a new position in shares of ATI during the 4th quarter valued at approximately $94,000. EverSource Wealth Advisors LLC increased its holdings in ATI by 20.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company's stock worth $95,000 after acquiring an additional 288 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in ATI by 236.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company's stock worth $132,000 after acquiring an additional 1,690 shares during the period.
Insider Activity at ATI
In related news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the completion of the transaction, the senior vice president now owns 25,994 shares of the company's stock, valued at approximately $1,726,261.54. This trade represents a 27.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.05% of the stock is currently owned by insiders.
ATI Price Performance
Shares of ATI traded up $0.37 during midday trading on Friday, hitting $46.75. 1,506,976 shares of the company traded hands, compared to its average volume of 1,666,344. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 0.85 and a beta of 0.80. The firm has a 50 day moving average of $54.42 and a 200-day moving average of $57.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.32 and a current ratio of 2.44. ATI Inc. has a 52 week low of $39.23 and a 52 week high of $68.92.
ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The firm's revenue was up 10.2% on a year-over-year basis. On average, analysts forecast that ATI Inc. will post 2.89 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on ATI. Barclays upped their price target on shares of ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Susquehanna upped their target price on shares of ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a report on Wednesday, February 5th. Benchmark raised their price target on ATI from $80.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, StockNews.com upgraded ATI from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.
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About ATI
(
Free Report)
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.
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