California State Teachers Retirement System raised its stake in shares of ATI Inc. (NYSE:ATI – Free Report) by 21.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 157,761 shares of the basic materials company’s stock after purchasing an additional 27,339 shares during the period. California State Teachers Retirement System’s holdings in ATI were worth $22,948,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of ATI. Norges Bank purchased a new position in shares of ATI during the 4th quarter valued at about $198,787,000. SG Americas Securities LLC increased its holdings in ATI by 1,471.8% in the 1st quarter. SG Americas Securities LLC now owns 1,075,368 shares of the basic materials company’s stock worth $156,423,000 after acquiring an additional 1,006,951 shares in the last quarter. AQR Capital Management LLC increased its holdings in ATI by 684.9% in the 4th quarter. AQR Capital Management LLC now owns 1,019,840 shares of the basic materials company’s stock worth $117,037,000 after acquiring an additional 889,912 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in ATI by 231.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,203,726 shares of the basic materials company’s stock worth $175,094,000 after acquiring an additional 840,455 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in ATI by 1,714.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 831,736 shares of the basic materials company’s stock worth $120,984,000 after acquiring an additional 785,885 shares during the period.
Analysts Set New Price Targets
Several equities analysts have weighed in on the stock. KeyCorp lifted their price target on shares of ATI from $175.00 to $211.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. BTIG Research increased their price objective on shares of ATI from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Susquehanna lifted their target price on shares of ATI from $185.00 to $215.00 and gave the company a “positive” rating in a research note on Thursday, July 9th. TD Cowen upped their target price on shares of ATI from $170.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, Zacks Research raised ATI from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 25th. Two investment analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. Based on data from MarketBeat, ATI presently has an average rating of “Buy” and an average target price of $176.78.
ATI Trading Up 3.2%
ATI stock opened at $187.76 on Friday. The stock has a market cap of $25.62 billion, a P/E ratio of 62.17, a PEG ratio of 1.49 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.67 and a quick ratio of 1.17. ATI Inc. has a 1 year low of $70.42 and a 1 year high of $205.31. The firm’s 50 day moving average price is $188.34 and its 200-day moving average price is $161.47.
ATI (NYSE:ATI – Get Free Report) last released its earnings results on Thursday, April 30th. The basic materials company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.88 by $0.12. ATI had a net margin of 9.26% and a return on equity of 26.44%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that ATI Inc. will post 4.49 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other ATI news, CEO Kimberly A. Fields sold 59,749 shares of ATI stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $179.07, for a total value of $10,699,253.43. Following the sale, the chief executive officer directly owned 218,014 shares in the company, valued at approximately $39,039,766.98. The trade was a 21.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 192,199 shares of company stock worth $34,601,100 over the last three months. Company insiders own 0.98% of the company’s stock.
About ATI
Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.
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