State of New Jersey Common Pension Fund D raised its position in ATI Inc. (NYSE:ATI – Get Rating) by 7.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 79,662 shares of the basic materials company’s stock after acquiring an additional 5,761 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of ATI worth $2,379,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC bought a new stake in shares of ATI during the 1st quarter worth approximately $263,000. Natixis Advisors L.P. bought a new stake in shares of ATI during the 1st quarter worth approximately $570,000. MetLife Investment Management LLC raised its stake in shares of ATI by 70.4% during the 1st quarter. MetLife Investment Management LLC now owns 68,697 shares of the basic materials company’s stock worth $1,844,000 after purchasing an additional 28,376 shares in the last quarter. Rhumbline Advisers raised its stake in shares of ATI by 4.4% during the 1st quarter. Rhumbline Advisers now owns 347,984 shares of the basic materials company’s stock worth $9,340,000 after purchasing an additional 14,825 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in shares of ATI by 1.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 110,936 shares of the basic materials company’s stock worth $3,056,000 after purchasing an additional 1,480 shares in the last quarter.
Analyst Ratings Changes
A number of research firms recently weighed in on ATI. Benchmark boosted their target price on ATI from $37.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. KeyCorp boosted their target price on ATI from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, March 7th. Seaport Res Ptn reaffirmed a “buy” rating on shares of ATI in a report on Saturday, January 21st. Cowen upped their price objective on ATI from $37.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, February 6th. Finally, StockNews.com assumed coverage on ATI in a report on Thursday, March 16th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.00.
ATI Price Performance
ATI (NYSE:ATI – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The basic materials company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. ATI had a return on equity of 30.40% and a net margin of 3.41%. The business’s quarterly revenue was up 32.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. On average, sell-side analysts forecast that ATI Inc. will post 2.16 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Elliot S. Davis sold 9,627 shares of the firm’s stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $39.07, for a total transaction of $376,126.89. Following the completion of the sale, the insider now owns 151,642 shares of the company’s stock, valued at $5,924,652.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is currently owned by insiders.
ATI Profile
ATI, Inc engages in the manufacture of specialty materials and components. It operates through the High Performance Materials and Components (HPMC) and Advanced Alloys & Solutions (AA&S) segments. The HPMC segment consists of the production of materials, parts, and components for aerospace and defense, medical, and energy markets.
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