Arizona State Retirement System Has $2.13 Million Position in ATI Inc. (NYSE:ATI)

Arizona State Retirement System grew its position in ATI Inc. (NYSE:ATI - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,915 shares of the basic materials company's stock after purchasing an additional 4,793 shares during the period. Arizona State Retirement System's holdings in ATI were worth $2,129,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ATI. Golden State Wealth Management LLC increased its position in 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 buying an additional 304 shares during the period. Bessemer Group Inc. increased its position in shares of ATI by 139.9% during the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 386 shares during the period. Olde Wealth Management LLC bought a new stake in ATI in the first quarter valued at $36,000. Fifth Third Bancorp grew its position in 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 during the period. Finally, Farther Finance Advisors LLC grew its position in ATI by 418.1% in the first quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company's stock valued at $69,000 after acquiring an additional 1,062 shares during the period.

ATI Trading Up 0.9%

Shares of ATI traded up $0.82 during trading hours on Friday, hitting $93.39. 1,230,167 shares of the stock traded hands, compared to its average volume of 1,747,337. The company has a current ratio of 2.53, a quick ratio of 1.30 and a debt-to-equity ratio of 0.86. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $93.75. The firm has a market capitalization of $13.17 billion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 1.24 and a beta of 1.13. The business has a fifty day moving average of $82.91 and a 200-day moving average of $64.91.

ATI (NYSE:ATI - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $0.48 earnings per share. Analysts expect that ATI Inc. will post 2.89 EPS for the current year.

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the completion of the transaction, the chairman directly owned 506,538 shares of the company's stock, valued at approximately $34,535,760.84. This represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 195,359 shares of company stock worth $15,103,486 in the last ninety days. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Citigroup upgraded ATI to a "positive" rating in a research report on Tuesday, May 20th. Susquehanna boosted their price objective on ATI from $73.00 to $105.00 and gave the stock a "positive" rating in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft set a $115.00 price objective on ATI and gave the stock a "hold" rating in a research note on Tuesday, July 8th. KeyCorp lowered 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 ATI and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ATI currently has an average rating of "Moderate Buy" and an average price target of $87.29.

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.