ATI Inc. (NYSE:ATI) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its stake in ATI Inc. (NYSE:ATI) by 8.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,720 shares of the basic materials company’s stock after selling 14,591 shares during the period. New York State Teachers Retirement System’s holdings in ATI were worth $8,524,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in ATI by 0.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 84,050 shares of the basic materials company’s stock valued at $3,822,000 after acquiring an additional 216 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of ATI by 3.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock valued at $364,000 after purchasing an additional 224 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of ATI by 4.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 5,849 shares of the basic materials company’s stock valued at $299,000 after purchasing an additional 239 shares during the period. Nvwm LLC boosted its position in shares of ATI by 2.1% in the 1st quarter. Nvwm LLC now owns 16,177 shares of the basic materials company’s stock valued at $828,000 after purchasing an additional 334 shares during the period. Finally, Yousif Capital Management LLC grew its stake in ATI by 0.9% during the 4th quarter. Yousif Capital Management LLC now owns 64,390 shares of the basic materials company’s stock worth $2,928,000 after buying an additional 568 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ATI. KeyCorp boosted their price objective on ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Barclays upped their price target 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Northcoast Research lowered shares of ATI from a “neutral” rating to a “sell” rating in a research note on Friday, June 14th. Finally, BTIG Research initiated coverage on shares of ATI in a research note on Wednesday, June 26th. They set a “buy” rating and a $70.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, ATI currently has a consensus rating of “Moderate Buy” and an average target price of $73.83.

ATI Price Performance

Shares of NYSE ATI opened at $67.17 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07. The company 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. The stock has a fifty day moving average price of $60.15 and a 200 day moving average price of $55.20. ATI Inc. has a 1-year low of $35.03 and a 1-year high of $68.92.

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