California Public Employees Retirement System Sells 6,821 Shares of ATI Inc. (NYSE:ATI)

California Public Employees Retirement System lessened its holdings in shares of ATI Inc. (NYSE:ATI) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 255,974 shares of the basic materials company’s stock after selling 6,821 shares during the period. California Public Employees Retirement System owned about 0.20% of ATI worth $11,639,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ATI. Palestra Capital Management LLC increased its holdings in ATI by 839.0% during the 3rd quarter. Palestra Capital Management LLC now owns 2,190,728 shares of the basic materials company’s stock valued at $90,148,000 after purchasing an additional 1,957,416 shares during the period. Hawk Ridge Capital Management LP purchased a new position in ATI during the 3rd quarter valued at about $18,727,000. Allspring Global Investments Holdings LLC boosted its position in ATI by 36.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,660,875 shares of the basic materials company’s stock valued at $68,345,000 after acquiring an additional 446,027 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in ATI by 34.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,581,625 shares of the basic materials company’s stock valued at $65,084,000 after acquiring an additional 404,797 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in ATI by 67.3% during the 3rd quarter. Victory Capital Management Inc. now owns 973,372 shares of the basic materials company’s stock valued at $40,054,000 after acquiring an additional 391,554 shares in the last quarter.

Insider Transactions at ATI

In related news, VP Timothy J. Harris sold 6,325 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.44, for a total value of $268,433.00. Following the completion of the transaction, the vice president now directly owns 109,331 shares in the company, valued at approximately $4,640,007.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.05% of the company’s stock.

Analyst Upgrades and Downgrades

ATI has been the topic of several research reports. TheStreet raised ATI from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. KeyCorp lifted their price objective on ATI from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on ATI in a research report on Thursday, April 11th. They set a “buy” rating and a $70.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.00.

ATI Stock Performance

Shares of ATI opened at $58.85 on Thursday. The company has a quick ratio of 1.53, a current ratio of 2.80 and a debt-to-equity ratio of 1.45. The business’s 50 day moving average price is $50.03 and its 200-day moving average price is $44.91. ATI Inc. has a 52 week low of $34.10 and a 52 week high of $61.58. The stock has a market cap of $7.32 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.47 and a beta of 1.22.

ATI (NYSE:ATI) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. ATI had a return on equity of 24.64% and a net margin of 8.81%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts anticipate that ATI Inc. will post 2.26 earnings per share for the current fiscal year.

ATI Company 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.