Retirement Systems of Alabama bought a new stake in ATI Inc. (NYSE:ATI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 173,614 shares of the basic materials company's stock, valued at approximately $9,033,000. Retirement Systems of Alabama owned approximately 0.12% of ATI as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of the stock. Fifth Third Bancorp lifted its position in shares of ATI by 115.7% in the first quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock valued at $58,000 after acquiring an additional 603 shares in the last quarter. Farther Finance Advisors LLC raised its stake in ATI by 418.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company's stock valued at $69,000 after purchasing an additional 1,062 shares during the last quarter. UMB Bank n.a. lifted its holdings in ATI by 86.2% in the 1st quarter. UMB Bank n.a. now owns 1,579 shares of the basic materials company's stock valued at $82,000 after purchasing an additional 731 shares in the last quarter. Mainstream Capital Management LLC acquired a new stake in shares of ATI during the 4th quarter worth about $94,000. Finally, 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 worth $95,000 after buying an additional 288 shares in the last quarter.
Insider Buying and Selling
In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $83.93, for a total value of $4,196,500.00. Following the transaction, the chairman now directly owns 356,538 shares of the company's stock, valued at $29,924,234.34. This trade represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 195,359 shares of company stock valued at $15,103,486. 1.10% of the stock is currently owned by corporate insiders.
ATI Trading Up 1.4%
Shares of ATI stock traded up $1.16 on Friday, reaching $86.84. 2,590,533 shares of the stock were exchanged, compared to its average volume of 1,785,576. 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 stock has a market cap of $12.25 billion, a P/E ratio of 31.46, a price-to-earnings-growth ratio of 1.16 and a beta of 1.14. The firm has a 50 day moving average of $73.26 and a two-hundred day moving average of $61.30. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $87.30.
ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. ATI had a return on equity of 21.37% and a net margin of 8.93%. The firm's revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 earnings per share. On average, research analysts anticipate that ATI Inc. will post 2.89 EPS for the current year.
Wall Street Analyst Weigh In
ATI has been the topic of a number of analyst reports. KeyCorp lowered shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, May 20th. Benchmark restated a "buy" rating and set a $81.00 price objective on shares of ATI in a report on Monday, April 21st. BTIG Research set a $105.00 target price on ATI and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Citigroup upgraded ATI to a "positive" rating in a research report on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, ATI presently has a consensus rating of "Moderate Buy" and an average target price of $78.29.
Read Our Latest Report on ATI
ATI Company Profile
(
Free Report)
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.
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