Public Sector Pension Investment Board Acquires 12,284 Shares of ATI Inc. (NYSE:ATI)

Public Sector Pension Investment Board increased its holdings in ATI Inc. (NYSE:ATI) by 4.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 273,786 shares of the basic materials company’s stock after buying an additional 12,284 shares during the quarter. Public Sector Pension Investment Board owned about 0.22% of ATI worth $15,181,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of ATI by 12.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 5,901 shares of the basic materials company’s stock worth $268,000 after buying an additional 634 shares during the last quarter. Norges Bank bought a new stake in shares of ATI in the 4th quarter worth about $55,855,000. UBS Group AG raised its position in shares of ATI by 156.8% during the 4th quarter. UBS Group AG now owns 157,369 shares of the basic materials company’s stock valued at $7,156,000 after buying an additional 96,078 shares in the last quarter. Quest Partners LLC purchased a new stake in ATI during the fourth quarter valued at approximately $174,000. Finally, US Bancorp DE boosted its holdings in shares of ATI by 10.2% in the 4th quarter. US Bancorp DE now owns 19,748 shares of the basic materials company’s stock worth $898,000 after purchasing an additional 1,831 shares during the period.

Wall Street Analyst Weigh In

Several research firms have commented on ATI. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Northcoast Research downgraded shares of ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. BTIG Research assumed coverage on ATI in a research report on Wednesday, June 26th. They set a “buy” rating and a $70.00 target price for the company. Susquehanna initiated coverage on ATI in a research report on Thursday, September 5th. They set a “positive” rating and a $75.00 target price for the company. Finally, Benchmark restated a “buy” rating and issued a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.00.

ATI Trading Up 1.9 %

NYSE ATI opened at $65.03 on Tuesday. ATI Inc. has a 52 week low of $35.03 and a 52 week high of $68.92. The company has a 50 day moving average price of $62.72 and a 200 day moving average price of $57.77. The company has a quick ratio of 1.07, a current ratio of 2.13 and a debt-to-equity ratio of 1.26. The firm has a market cap of $8.09 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04.

ATI (NYSE:ATI) last issued its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 earnings per share. As a group, sell-side analysts forecast that ATI Inc. will post 2.48 EPS for the current fiscal year.

ATI declared that its board has initiated a stock repurchase plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the basic materials company to purchase up to 9.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the sale, the chairman now owns 511,443 shares in the company, valued at $31,510,003.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

ATI Company 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.