South Dakota Investment Council Purchases Shares of 5,300 ATI Inc. $ATI

South Dakota Investment Council acquired a new stake in shares of ATI Inc. (NYSE:ATI) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,300 shares of the basic materials company’s stock, valued at approximately $771,000.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in ATI during the fourth quarter valued at approximately $198,787,000. SG Americas Securities LLC raised its position in shares of ATI by 1,471.8% during the first quarter. SG Americas Securities LLC now owns 1,075,368 shares of the basic materials company’s stock worth $156,423,000 after purchasing an additional 1,006,951 shares during the period. AQR Capital Management LLC increased its stake in ATI by 684.9% in the 4th quarter. AQR Capital Management LLC now owns 1,019,840 shares of the basic materials company’s stock worth $117,037,000 after purchasing an additional 889,912 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in ATI by 231.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,203,726 shares of the basic materials company’s stock valued at $175,094,000 after buying an additional 840,455 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of ATI by 1,714.0% in the first quarter. PNC Financial Services Group Inc. now owns 831,736 shares of the basic materials company’s stock worth $120,984,000 after acquiring an additional 785,885 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Zacks Research raised shares of ATI from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 25th. Wall Street Zen cut shares of ATI from a “buy” rating to a “hold” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $194.00 target price on shares of ATI in a research note on Friday, May 1st. Susquehanna lifted their price objective on ATI from $185.00 to $215.00 and gave the company a “positive” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings raised ATI from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $176.78.

Insider Buying and Selling

In other ATI news, CEO Kimberly A. Fields sold 59,749 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $179.07, for a total transaction of $10,699,253.43. Following the transaction, the chief executive officer directly owned 218,014 shares in the company, valued at $39,039,766.98. This trade represents a 21.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 192,199 shares of company stock worth $34,601,100 over the last 90 days. Corporate insiders own 0.98% of the company’s stock.

ATI Stock Performance

ATI stock opened at $187.76 on Friday. The firm has a 50 day moving average of $188.34 and a two-hundred day moving average of $161.47. ATI Inc. has a 12 month low of $70.42 and a 12 month high of $205.31. The company has a market capitalization of $25.62 billion, a price-to-earnings ratio of 62.17, a P/E/G ratio of 1.45 and a beta of 0.96. The company has a quick ratio of 1.17, a current ratio of 2.67 and a debt-to-equity ratio of 0.95.

ATI (NYSE:ATI) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.12. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.19 billion. ATI had a net margin of 9.26% and a return on equity of 26.44%. ATI’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. As a group, equities analysts anticipate that ATI Inc. will post 4.49 EPS for the current fiscal year.

About ATI

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.