New York State Teachers Retirement System Sells 13,673 Shares of ATI Inc. (NYSE:ATI)

New York State Teachers Retirement System trimmed its position in shares of ATI Inc. (NYSE:ATI) by 8.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 144,155 shares of the basic materials company’s stock after selling 13,673 shares during the quarter. New York State Teachers Retirement System’s holdings in ATI were worth $7,500,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Keystone Financial Group lifted its position in shares of ATI by 5.3% in the 4th quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company’s stock worth $217,000 after purchasing an additional 200 shares during the period. Pier 88 Investment Partners LLC lifted its position in shares of ATI by 3.0% in the 4th quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company’s stock worth $419,000 after purchasing an additional 220 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of 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 purchasing an additional 288 shares during the period. Arizona State Retirement System lifted its position in shares of ATI by 0.8% in the 4th quarter. Arizona State Retirement System now owns 36,122 shares of the basic materials company’s stock worth $1,988,000 after purchasing an additional 289 shares during the period. Finally, Golden State Wealth Management LLC lifted its position in shares of ATI by 104.1% in the 1st 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 during the period.

ATI Trading Up 1.4%

NYSE ATI opened at $86.85 on Friday. The company has a quick ratio of 1.30, a current ratio of 2.53 and a debt-to-equity ratio of 0.86. The firm has a market cap of $12.25 billion, a PE ratio of 31.47, a price-to-earnings-growth ratio of 1.22 and a beta of 1.13. The company has a 50 day moving average price of $77.76 and a 200 day moving average price of $62.53. ATI Inc. has a 52 week low of $39.23 and a 52 week high of $87.75.

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

Insider Transactions at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the transaction, the chairman owned 506,538 shares in the company, valued at approximately $34,535,760.84. This represents a 8.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 195,359 shares of company stock worth $15,103,486. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ATI. Benchmark reaffirmed a “buy” rating and issued a $81.00 price target on shares of ATI in a research report on Monday, April 21st. Citigroup raised shares of ATI to a “positive” rating in a research report on Tuesday, May 20th. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, May 20th. Finally, BTIG Research set a $105.00 price objective on shares of ATI and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $78.29.

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.