Public Sector Pension Investment Board Sells 9,700 Shares of ATI Inc. (NYSE:ATI)

Public Sector Pension Investment Board reduced its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,086 shares of the basic materials company's stock after selling 9,700 shares during the period. Public Sector Pension Investment Board owned 0.19% of ATI worth $17,670,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ATI. Dimensional Fund Advisors LP raised its stake in shares of ATI by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company's stock valued at $139,003,000 after acquiring an additional 102,691 shares in the last quarter. Millennium Management LLC raised its position in shares of ATI by 165.1% in the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company's stock valued at $107,846,000 after purchasing an additional 1,211,273 shares during the period. Federated Hermes Inc. lifted its stake in shares of ATI by 4.3% in the second quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company's stock worth $94,412,000 after buying an additional 70,812 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of ATI by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,239 shares of the basic materials company's stock worth $91,750,000 after buying an additional 24,224 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in ATI by 1.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,849 shares of the basic materials company's stock valued at $75,792,000 after buying an additional 14,664 shares during the last quarter.

Insider Buying and Selling at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value of $1,555,750.00. Following the transaction, the chairman now directly owns 486,443 shares of the company's stock, valued at $30,271,347.89. The trade was a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ATI shares. JPMorgan Chase & Co. boosted their target price on shares of ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 21st. KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. Susquehanna dropped their price target on ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their price objective on ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Finally, Benchmark reiterated a "buy" rating and set a $80.00 target price on shares of ATI in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.71.

ATI Price Performance

Shares of ATI stock traded up $0.06 during mid-day trading on Friday, reaching $60.18. The company's stock had a trading volume of 643,225 shares, compared to its average volume of 1,446,759. The firm's 50-day moving average is $60.89 and its two-hundred day moving average is $60.58. The company has a market cap of $8.58 billion, a P/E ratio of 23.37, a PEG ratio of 2.08 and a beta of 1.08. ATI Inc. has a 1-year low of $38.04 and a 1-year high of $68.92. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.06). ATI had a return on equity of 21.39% and a net margin of 8.85%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the business earned $0.55 EPS. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. On average, research analysts predict that ATI Inc. will post 2.27 earnings per share for the current year.

ATI announced that its Board of Directors has approved a stock repurchase program on Tuesday, September 3rd that allows the company to buyback $700.00 million in outstanding shares. This buyback authorization allows the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

ATI Company 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.