Illinois Municipal Retirement Fund Grows Stock Holdings in ATI Inc. (NYSE:ATI)

Illinois Municipal Retirement Fund grew its holdings in shares of ATI Inc. (NYSE:ATI) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,555 shares of the basic materials company’s stock after purchasing an additional 2,404 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in ATI were worth $3,828,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ATI. Mountaineer Partners Management LLC lifted its position in ATI by 4,401.2% during the third quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock worth $629,683,000 after buying an additional 9,201,818 shares during the period. Geode Capital Management LLC increased its stake in shares of ATI by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock valued at $130,709,000 after acquiring an additional 5,165 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of ATI by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,239 shares of the basic materials company’s stock worth $91,750,000 after acquiring an additional 24,224 shares during the period. Bank of New York Mellon Corp boosted its position in shares of ATI by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 891,152 shares of the basic materials company’s stock worth $49,049,000 after acquiring an additional 12,907 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in ATI by 17.8% in the fourth quarter. Principal Financial Group Inc. now owns 690,215 shares of the basic materials company’s stock valued at $37,989,000 after purchasing an additional 104,267 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ATI shares. Benchmark increased their price target on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Susquehanna upped their price objective on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a report on Wednesday, February 5th. Barclays upped their price target on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, StockNews.com raised ATI from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, ATI presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

ATI Price Performance

Shares of NYSE ATI opened at $56.72 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. ATI Inc. has a 1-year low of $47.54 and a 1-year high of $68.92. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 0.85 and a beta of 1.10. The business has a 50-day moving average of $57.98 and a 200-day moving average of $59.95.

ATI (NYSE:ATI) last released its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.19. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. ATI had a return on equity of 21.16% and a net margin of 8.43%. ATI’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. On average, equities analysts anticipate that ATI Inc. will post 2.89 EPS for the current fiscal year.

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total value of $1,474,750.00. Following the completion of the transaction, the chairman now owns 436,443 shares of the company’s stock, valued at approximately $25,745,772.57. This represents a 5.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total value of $155,931.96. Following the sale, the senior vice president now owns 21,553 shares of the company’s stock, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 37,498 shares of company stock valued at $2,288,141. Corporate insiders own 1.05% 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.