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Aug 13, 2023

California State Teachers Retirement System Cuts Stock Position in ATI Inc. (NYSE:ATI)

California State Teachers Retirement System lowered its holdings in ATI Inc. (NYSE:ATI - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the

California State Teachers Retirement System lowered its holdings in ATI Inc. (NYSE:ATI - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 159,880 shares of the basic materials company's stock after selling 2,701 shares during the period. California State Teachers Retirement System owned about 0.12% of ATI worth $6,309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ATI. HighTower Advisors LLC purchased a new position in ATI in the first quarter worth $263,000. Natixis Advisors L.P. purchased a new position in shares of ATI during the 1st quarter valued at $570,000. MetLife Investment Management LLC lifted its position in shares of ATI by 70.4% during the 1st quarter. MetLife Investment Management LLC now owns 68,697 shares of the basic materials company's stock valued at $1,844,000 after buying an additional 28,376 shares during the last quarter. Rhumbline Advisers lifted its position in shares of ATI by 4.4% during the 1st quarter. Rhumbline Advisers now owns 347,984 shares of the basic materials company's stock valued at $9,340,000 after buying an additional 14,825 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of ATI by 1.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 110,936 shares of the basic materials company's stock valued at $3,056,000 after buying an additional 1,480 shares during the last quarter.

Shares of ATI opened at $44.51 on Friday. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 22.83 and a beta of 1.25. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.20 and a current ratio of 2.74. The stock's 50-day simple moving average is $43.68 and its 200 day simple moving average is $40.25. ATI Inc. has a 52-week low of $25.39 and a 52-week high of $47.92.

A number of brokerages have recently commented on ATI. JPMorgan Chase & Co. upped their price target on ATI from $45.00 to $50.00 in a research report on Monday, May 8th. Northcoast Research began coverage on ATI in a research report on Thursday, July 20th. They set a "buy" rating and a $54.00 price target on the stock. Barclays upped their price target on ATI from $42.00 to $51.00 and gave the company an "overweight" rating in a research report on Tuesday, August 8th. KeyCorp increased their price objective on ATI from $47.00 to $49.00 and gave the stock an "overweight" rating in a report on Monday, August 7th. Finally, StockNews.com began coverage on ATI in a report on Thursday. They set a "hold" rating on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, ATI presently has a consensus rating of "Moderate Buy" and an average price target of $49.33.

Read Our Latest Stock Report on ATI

In other ATI news, insider Elliot S. Davis sold 7,039 shares of the company's stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $40.00, for a total value of $281,560.00. Following the transaction, the insider now directly owns 148,666 shares in the company, valued at approximately $5,946,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other ATI news, VP Timothy J. Harris sold 12,858 shares of the company's stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $43.57, for a total value of $560,223.06. Following the transaction, the vice president now directly owns 76,992 shares in the company, valued at approximately $3,354,541.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elliot S. Davis sold 7,039 shares of the company's stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $40.00, for a total value of $281,560.00. Following the completion of the transaction, the insider now owns 148,666 shares in the company, valued at $5,946,640. The disclosure for this sale can be found here. Insiders have sold 33,975 shares of company stock worth $1,457,696 in the last ninety days. 0.71% of the stock is currently owned by insiders.

ATI Inc manufactures and sells specialty materials and 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, 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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