Strs Ohio Has $659,000 Stock Position in ATI Inc. (NYSE:ATI)

Strs Ohio decreased its stake in ATI Inc. (NYSE:ATI) by 10.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,500 shares of the basic materials company’s stock after selling 1,700 shares during the period. Strs Ohio’s holdings in ATI were worth $659,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ATI. Palestra Capital Management LLC grew its stake in shares of ATI by 839.0% in the third quarter. Palestra Capital Management LLC now owns 2,190,728 shares of the basic materials company’s stock worth $90,148,000 after acquiring an additional 1,957,416 shares during the last quarter. Hawk Ridge Capital Management LP acquired a new stake in shares of ATI in the third quarter worth $18,727,000. Allspring Global Investments Holdings LLC boosted its stake in ATI by 36.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,660,875 shares of the basic materials company’s stock worth $68,345,000 after buying an additional 446,027 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ATI by 34.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,581,625 shares of the basic materials company’s stock worth $65,084,000 after buying an additional 404,797 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in ATI by 67.3% during the third quarter. Victory Capital Management Inc. now owns 973,372 shares of the basic materials company’s stock worth $40,054,000 after buying an additional 391,554 shares in the last quarter.

ATI Stock Up 1.3 %

Shares of NYSE:ATI opened at $49.87 on Friday. ATI Inc. has a 52 week low of $34.10 and a 52 week high of $52.98. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.53 and a current ratio of 2.80. The company’s fifty day moving average is $49.48 and its 200-day moving average is $44.53. The company has a market capitalization of $6.21 billion, a PE ratio of 19.87, a P/E/G ratio of 1.39 and a beta of 1.22.

ATI (NYSE:ATI) last issued its earnings results on Thursday, February 1st. The basic materials company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. ATI had a net margin of 8.81% and a return on equity of 24.64%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts predict that ATI Inc. will post 2.26 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Timothy J. Harris sold 6,325 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.44, for a total value of $268,433.00. Following the sale, the vice president now owns 109,331 shares in the company, valued at approximately $4,640,007.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ATI. Deutsche Bank Aktiengesellschaft began coverage on shares of ATI in a research note on Thursday, April 11th. They set a “buy” rating and a $70.00 price target on the stock. TheStreet upgraded shares of ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Finally, KeyCorp lifted their price target on shares of ATI from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

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.