South Dakota Investment Council Makes New Investment in ATI Inc. $ATI

South Dakota Investment Council purchased a new stake in shares of ATI Inc. (NYSE:ATI) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,300 shares of the basic materials company’s stock, valued at approximately $771,000.

A number of other institutional investors also recently modified their holdings of ATI. Royal Bank of Canada boosted its holdings in shares of ATI by 8.1% during the 1st quarter. Royal Bank of Canada now owns 60,369 shares of the basic materials company’s stock worth $3,140,000 after buying an additional 4,542 shares during the period. Goldman Sachs Group Inc. raised its holdings in ATI by 49.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 633,948 shares of the basic materials company’s stock worth $32,984,000 after acquiring an additional 209,480 shares during the period. Cetera Investment Advisers bought a new position in ATI in the 2nd quarter worth $324,000. M&T Bank Corp acquired a new position in ATI during the 2nd quarter worth $317,000. Finally, First Trust Advisors LP lifted its position in ATI by 4.9% during the 2nd quarter. First Trust Advisors LP now owns 197,214 shares of the basic materials company’s stock worth $17,028,000 after acquiring an additional 9,234 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ATI shares. TD Cowen raised their price target on ATI from $170.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, July 13th. BTIG Research increased their target price on ATI from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. increased their target price on ATI from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Zacks Research raised ATI from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 25th. Finally, Weiss Ratings raised ATI from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $176.78.

ATI Price Performance

Shares of ATI stock opened at $187.76 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.67 and a quick ratio of 1.17. The company has a market cap of $25.62 billion, a PE ratio of 62.17, a price-to-earnings-growth ratio of 1.45 and a beta of 0.96. The firm has a fifty day moving average price of $188.34 and a two-hundred day moving average price of $161.47. ATI Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $205.31.

ATI (NYSE:ATI) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.12. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.19 billion. ATI had a net margin of 9.26% and a return on equity of 26.44%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS. Analysts expect that ATI Inc. will post 4.49 EPS for the current year.

Insider Buying and Selling at ATI

In related news, CEO Kimberly A. Fields sold 31,757 shares of ATI stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $190.99, for a total transaction of $6,065,269.43. Following the sale, the chief executive officer directly owned 125,564 shares of the company’s stock, valued at $23,981,468.36. This trade represents a 20.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 192,199 shares of company stock valued at $34,601,100 in the last three months. 0.98% of the stock is currently owned by company insiders.

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.