Louisiana State Employees Retirement System Increases Holdings in ATI Inc. (NYSE:ATI)

Louisiana State Employees Retirement System grew its holdings in shares of ATI Inc. (NYSE:ATI) by 14.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,000 shares of the basic materials company’s stock after purchasing an additional 8,800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in ATI were worth $3,798,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ATI. Mountaineer Partners Management LLC increased its holdings in ATI by 4,401.2% in the 3rd quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock worth $629,683,000 after acquiring an additional 9,201,818 shares during the last quarter. Forest Avenue Capital Management LP purchased a new stake in ATI in the 3rd quarter worth about $28,700,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in ATI by 177.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 451,982 shares of the basic materials company’s stock worth $30,242,000 after acquiring an additional 289,229 shares during the last quarter. Holocene Advisors LP purchased a new stake in ATI in the 3rd quarter worth about $18,928,000. Finally, Artemis Investment Management LLP purchased a new stake in ATI in the 4th quarter worth about $8,103,000.

Analyst Ratings Changes

Several brokerages recently weighed in on ATI. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Barclays lifted their price objective on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday. Susquehanna raised their target price on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. Finally, StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. One investment 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.86.

Insider Activity

In other news, SVP Tina Killough Busch sold 9,900 shares of ATI stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the completion of the sale, the senior vice president now owns 25,994 shares in the company, valued at approximately $1,726,261.54. This trade represents a 27.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value of $1,474,750.00. Following the sale, the chairman now owns 436,443 shares of the company’s stock, valued at approximately $25,745,772.57. This trade represents a 5.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,498 shares of company stock worth $2,288,141. 0.71% of the stock is currently owned by insiders.

ATI Stock Down 1.9 %

Shares of NYSE ATI opened at $60.70 on Thursday. ATI Inc. has a 52 week low of $41.37 and a 52 week high of $68.92. The business has a 50-day simple moving average of $57.39 and a two-hundred day simple moving average of $60.20. The company has a quick ratio of 1.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. The company has a market cap of $8.66 billion, a P/E ratio of 23.80, a P/E/G ratio of 1.69 and a beta of 1.10.

ATI (NYSE:ATI) last issued its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. ATI had a return on equity of 21.16% and a net margin of 8.43%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. Research analysts anticipate that ATI Inc. will post 2.87 earnings per share for the current fiscal year.

ATI 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.