New York State Common Retirement Fund Sells 19,597 Shares of ATI Inc. (NYSE:ATI)

New York State Common Retirement Fund reduced its holdings in ATI Inc. (NYSE:ATI) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 362,892 shares of the basic materials company’s stock after selling 19,597 shares during the quarter. New York State Common Retirement Fund owned about 0.26% of ATI worth $18,881,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ATI. Golden State Wealth Management LLC increased its holdings in ATI by 104.1% in the first quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 304 shares in the last quarter. Bessemer Group Inc. increased its holdings in ATI by 139.9% in the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 386 shares in the last quarter. Olde Wealth Management LLC bought a new stake in ATI in the first quarter worth approximately $36,000. Fifth Third Bancorp increased its holdings in ATI by 115.7% in the first quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 603 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in ATI by 418.1% in the first quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 1,062 shares in the last quarter.

ATI Stock Down 0.1%

Shares of NYSE:ATI opened at $89.84 on Thursday. The stock has a market cap of $12.67 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 1.20 and a beta of 1.13. The company has a quick ratio of 1.30, a current ratio of 2.53 and a debt-to-equity ratio of 0.86. ATI Inc. has a 12-month low of $39.23 and a 12-month high of $91.74. The business’s 50 day moving average is $82.04 and its 200 day moving average is $64.39.

ATI (NYSE:ATI) last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.07 billion. ATI had a return on equity of 21.37% and a net margin of 8.93%. ATI’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 earnings per share. On average, sell-side analysts forecast that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total value of $3,409,000.00. Following the transaction, the chairman owned 506,538 shares of the company’s stock, valued at approximately $34,535,760.84. The trade was a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 195,359 shares of company stock valued at $15,103,486 over the last 90 days. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on ATI. KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft set a $115.00 price objective on ATI and gave the company a “hold” rating in a report on Tuesday, July 8th. Susquehanna boosted their price objective on ATI from $73.00 to $105.00 and gave the company a “positive” rating in a report on Monday. Benchmark restated a “buy” rating and set a $81.00 price objective on shares of ATI in a report on Monday, April 21st. Finally, Citigroup upgraded ATI to a “positive” rating in a report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.29.

About ATI

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.