ATI Inc. (NYSE:ATI) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 42.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,000 shares of the basic materials company's stock after selling 29,000 shares during the quarter. Louisiana State Employees Retirement System's holdings in ATI were worth $2,081,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ATI. Mutual of America Capital Management LLC boosted its holdings in shares of ATI by 239.8% during the 1st quarter. Mutual of America Capital Management LLC now owns 73,415 shares of the basic materials company's stock worth $3,820,000 after purchasing an additional 51,808 shares during the last quarter. Arizona State Retirement System lifted its position in ATI by 13.3% during the first quarter. Arizona State Retirement System now owns 40,915 shares of the basic materials company's stock worth $2,129,000 after buying an additional 4,793 shares in the last quarter. Xponance Inc. boosted its stake in ATI by 188.2% during the first quarter. Xponance Inc. now owns 15,579 shares of the basic materials company's stock worth $811,000 after buying an additional 10,173 shares during the last quarter. State of Michigan Retirement System acquired a new position in ATI during the first quarter worth $1,774,000. Finally, Nisa Investment Advisors LLC grew its holdings in ATI by 1.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 17,261 shares of the basic materials company's stock valued at $898,000 after buying an additional 265 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ATI. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a report on Tuesday, May 20th. Benchmark reaffirmed a "buy" rating and set a $81.00 target price on shares of ATI in a research note on Monday, April 21st. BTIG Research set a $105.00 price target on shares of ATI and gave the company a "buy" rating in a research note on Wednesday, May 28th. Susquehanna raised their price target on shares of ATI from $73.00 to $105.00 and gave the stock a "positive" rating in a report on Monday. Finally, Citigroup upgraded ATI to a "positive" rating in a report on Tuesday, May 20th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $87.29.

ATI Trading Up 0.9%

Shares of ATI traded up $0.82 during trading on Friday, reaching $93.39. 1,230,167 shares of the company traded hands, compared to its average volume of 1,747,337. The stock has a 50-day simple moving average of $82.91 and a 200-day simple moving average of $64.91. The stock has a market cap 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. ATI Inc. has a twelve month low of $39.23 and a twelve month high of $95.03. The company has a quick ratio of 1.30, a current ratio of 2.53 and a debt-to-equity ratio of 0.86.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.07 billion. ATI had a net margin of 8.93% and a return on equity of 21.37%. The firm's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $0.48 EPS. On average, analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current year.

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total value of $3,409,000.00. Following the sale, the chairman owned 506,538 shares in the company, valued at approximately $34,535,760.84. The trade was a 8.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 195,359 shares of company stock worth $15,103,486 in the last ninety days. Company insiders own 1.10% of the company's stock.

ATI Profile

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.