Texas Permanent School Fund Sells 6,419 Shares of ATI Inc. (NYSE:ATI)

Posted by on May 10th, 2023

Texas Permanent School Fund reduced its stake in ATI Inc. (NYSE:ATI – Get Rating) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,006 shares of the basic materials company’s stock after selling 6,419 shares during the quarter. Texas Permanent School Fund owned about 0.07% of ATI worth $2,598,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. LPL Financial LLC raised its holdings in ATI by 10.5% in the 4th quarter. LPL Financial LLC now owns 17,016 shares of the basic materials company’s stock valued at $508,000 after acquiring an additional 1,620 shares during the period. Envestnet Asset Management Inc. acquired a new position in shares of ATI during the 4th quarter worth approximately $246,000. U.S. Capital Wealth Advisors LLC acquired a new position in shares of ATI during the 4th quarter worth approximately $54,000. ProShare Advisors LLC grew its position in shares of ATI by 14.7% during the 4th quarter. ProShare Advisors LLC now owns 19,747 shares of the basic materials company’s stock worth $590,000 after purchasing an additional 2,525 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in shares of ATI by 7.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 79,662 shares of the basic materials company’s stock worth $2,379,000 after purchasing an additional 5,761 shares in the last quarter.

ATI Stock Performance

NYSE ATI opened at $37.75 on Wednesday. The company has a current ratio of 2.81, a quick ratio of 1.24 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 33.71 and a beta of 1.19. The firm’s 50 day simple moving average is $38.67 and its 200 day simple moving average is $34.92. ATI Inc. has a 1 year low of $20.51 and a 1 year high of $43.32.

ATI (NYSE:ATI – Get Rating) last issued its earnings results on Thursday, May 4th. The basic materials company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. ATI had a net margin of 4.21% and a return on equity of 28.75%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $0.40 earnings per share. The company’s quarterly revenue was up 24.5% on a year-over-year basis. As a group, research analysts expect that ATI Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on ATI. Barclays increased their target price on shares of ATI from $33.00 to $42.00 in a research report on Tuesday. KeyCorp increased their target price on shares of ATI from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 7th. JPMorgan Chase & Co. increased their target price on shares of ATI from $45.00 to $50.00 in a research report on Monday. Benchmark increased their target price on shares of ATI from $37.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Finally, Seaport Res Ptn reiterated a “buy” rating on shares of ATI in a research report on Saturday, January 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, ATI currently has an average rating of “Moderate Buy” and an average price target of $44.00.

ATI Profile

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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.

See Also

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Institutional Ownership by Quarter for ATI (NYSE:ATI)

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