ATI Inc. (NYSE:ATI) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury trimmed its stake in ATI Inc. (NYSE:ATI) by 6.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,886 shares of the basic materials company’s stock after selling 3,974 shares during the quarter. State of Tennessee Department of Treasury’s holdings in ATI were worth $3,021,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. ORG Wealth Partners LLC purchased a new position in shares of ATI during the fourth quarter valued at $25,000. Mainstream Capital Management LLC purchased a new position in shares of ATI during the fourth quarter valued at $94,000. EverSource Wealth Advisors LLC grew its holdings in shares of ATI by 20.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company’s stock valued at $95,000 after buying an additional 288 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of ATI by 236.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company’s stock valued at $132,000 after buying an additional 1,690 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of ATI by 137.7% during the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company’s stock valued at $144,000 after buying an additional 1,516 shares in the last quarter.

Analyst Upgrades and Downgrades

ATI has been the topic of a number of research analyst reports. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Barclays boosted their target price on ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Benchmark restated a “buy” rating and issued a $81.00 target price on shares of ATI in a research note on Monday, April 21st. Susquehanna boosted their target price on ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th. Finally, KeyCorp upgraded ATI from a “sector weight” rating to an “overweight” rating and set a $55.00 target price on the stock in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.29.

ATI Price Performance

Shares of NYSE:ATI opened at $53.05 on Monday. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $68.92. The business has a 50-day moving average of $51.52 and a two-hundred day moving average of $55.96. The stock has a market capitalization of $7.48 billion, a P/E ratio of 20.80, a P/E/G ratio of 0.85 and a beta of 0.80. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32.

ATI (NYSE:ATI) last announced its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that ATI Inc. will post 2.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Tina Killough Busch sold 9,900 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the sale, the senior vice president now owns 25,994 shares in the company, valued at approximately $1,726,261.54. This trade represents a 27.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

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.