Maryland State Retirement & Pension System Sells 995 Shares of ATI Inc. (NYSE:ATI)

Maryland State Retirement & Pension System cut its position in shares of ATI Inc. (NYSE:ATI) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,367 shares of the basic materials company’s stock after selling 995 shares during the quarter. Maryland State Retirement & Pension System’s holdings in ATI were worth $2,108,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ATI. Evergreen Capital Management LLC boosted its position in ATI by 4.1% during the third quarter. Evergreen Capital Management LLC now owns 6,582 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 258 shares during the last quarter. Inspire Investing LLC lifted its position in shares of ATI by 4.1% in the third quarter. Inspire Investing LLC now owns 7,409 shares of the basic materials company’s stock valued at $305,000 after buying an additional 291 shares during the last quarter. Covestor Ltd lifted its position in shares of ATI by 73.1% in the third quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock valued at $43,000 after buying an additional 441 shares during the last quarter. Advisor Partners II LLC lifted its position in shares of ATI by 2.4% in the third quarter. Advisor Partners II LLC now owns 20,762 shares of the basic materials company’s stock valued at $854,000 after buying an additional 490 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of ATI by 1.4% in the third quarter. Arizona State Retirement System now owns 36,601 shares of the basic materials company’s stock valued at $1,506,000 after buying an additional 496 shares during the last quarter.

Insider Transactions at ATI

In other news, VP Timothy J. Harris sold 6,325 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.44, for a total transaction of $268,433.00. Following the completion of the transaction, the vice president now directly owns 109,331 shares in the company, valued at $4,640,007.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on ATI. Barclays raised their price objective on ATI from $55.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday. TheStreet upgraded ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. KeyCorp lifted their price target on ATI from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on ATI in a research note on Thursday, April 11th. They issued a “buy” rating and a $70.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.17.

ATI Trading Up 0.5 %

Shares of ATI stock traded up $0.30 on Wednesday, hitting $60.11. The company had a trading volume of 114,266 shares, compared to its average volume of 1,354,763. ATI Inc. has a twelve month low of $34.10 and a twelve month high of $61.58. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.37 and a current ratio of 2.81. The firm has a market cap of $7.48 billion, a P/E ratio of 24.02, a P/E/G ratio of 1.50 and a beta of 1.17. The stock’s 50-day moving average is $51.21 and its two-hundred day moving average is $45.67.

ATI (NYSE:ATI) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. ATI had a return on equity of 23.72% and a net margin of 8.70%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company earned $0.49 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts anticipate that ATI Inc. will post 2.4 earnings per share for the current fiscal year.

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.