Securian Asset Management Inc. Buys Shares of 10,833 ATI Inc. (NYSE:ATI)

Securian Asset Management Inc. bought a new stake in ATI Inc. (NYSE:ATI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 10,833 shares of the basic materials company's stock, valued at approximately $564,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC grew its stake in ATI by 239.8% in the first quarter. Mutual of America Capital Management LLC now owns 73,415 shares of the basic materials company's stock valued at $3,820,000 after purchasing an additional 51,808 shares during the last quarter. Arizona State Retirement System grew its stake in shares of 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 acquiring an additional 4,793 shares during the last quarter. Xponance Inc. grew its stake in shares of 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 acquiring an additional 10,173 shares during the last quarter. State of Michigan Retirement System purchased a new stake in shares of ATI during the first quarter worth about $1,774,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of ATI by 1.6% during the first quarter. Nisa Investment Advisors LLC now owns 17,261 shares of the basic materials company's stock worth $898,000 after acquiring an additional 265 shares during the last quarter.

ATI Price Performance

Shares of NYSE ATI opened at $92.52 on Friday. The business's 50 day moving average price is $82.47 and its 200 day moving average price is $64.65. The firm has a market cap of $13.05 billion, a P/E ratio of 33.52, a P/E/G ratio of 1.20 and a beta of 1.13. ATI Inc. has a 52 week low of $39.23 and a 52 week 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 announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. ATI had a return on equity of 21.37% and a net margin of 8.93%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the company posted $0.48 earnings per share. ATI's revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts expect that ATI Inc. will post 2.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ATI shares. Citigroup upgraded ATI to a "positive" rating in a research note on Tuesday, May 20th. Benchmark restated a "buy" rating and set a $81.00 price target on shares of ATI in a research note on Monday, April 21st. BTIG Research set a $105.00 price target on ATI and gave the stock a "buy" rating in a research note on Wednesday, May 28th. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft set a $115.00 price target on ATI and gave the stock a "hold" rating in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $87.29.

Insider Transactions at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chairman directly owned 506,538 shares of the company's stock, valued at approximately $34,535,760.84. The trade was a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 195,359 shares of company stock valued at $15,103,486 over the last three months. 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.

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