Teacher Retirement System of Texas acquired a new stake in shares of ATI Inc. (NYSE:ATI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 23,890 shares of the basic materials company's stock, valued at approximately $1,243,000.
A number of other large investors have also recently added to or reduced their stakes in ATI. Capital World Investors increased its holdings in shares of ATI by 100.5% in the 4th quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company's stock worth $378,432,000 after acquiring an additional 3,446,919 shares during the period. Dendur Capital LP increased its stake in ATI by 601.7% during the 4th quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company's stock valued at $196,328,000 after buying an additional 3,058,628 shares during the period. Vanguard Group Inc. increased its stake in ATI by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company's stock valued at $844,061,000 after buying an additional 2,020,313 shares during the period. Norges Bank acquired a new position in ATI during the 4th quarter valued at about $85,047,000. Finally, Capital International Investors increased its stake in ATI by 5.4% during the 4th quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company's stock valued at $875,190,000 after buying an additional 817,182 shares during the period.
Insider Activity at ATI
In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were 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 in the company, valued at $34,535,760.84. This trade represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 195,359 shares of company stock valued at $15,103,486 in the last ninety days. Company insiders own 1.10% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft set a $115.00 target price on shares of ATI and gave the company a "hold" rating in a research note on Tuesday, July 8th. BTIG Research set a $105.00 target price on shares of ATI and gave the company a "buy" rating in a research note on Wednesday, May 28th. Benchmark reissued a "buy" rating and set a $81.00 target price on shares of ATI in a research note on Monday, April 21st. Susquehanna raised their target price on shares of ATI from $73.00 to $105.00 and gave the company a "positive" rating in a research note on Monday. Finally, KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, ATI presently has an average rating of "Moderate Buy" and an average target price of $87.29.
Check Out Our Latest Stock Analysis on ATI
ATI Price Performance
Shares of ATI traded down $0.05 during mid-day trading on Wednesday, hitting $89.84. The company's stock had a trading volume of 1,277,903 shares, compared to its average volume of 1,741,611. The firm has a 50-day moving average price of $81.64 and a 200 day moving average price of $64.21. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 1.21 and a beta of 1.13. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.53 and a quick ratio of 1.30. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $91.91.
ATI (NYSE:ATI - Get Free Report) last announced its 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. ATI had a net margin of 8.93% and a return on equity of 21.37%. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same period last year, the company posted $0.48 earnings per share. The business's revenue for the quarter was up 9.7% on a year-over-year basis. On average, research analysts predict that ATI Inc. will post 2.89 EPS for the current fiscal year.
ATI Company Profile
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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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