Louisiana State Employees Retirement System Purchases 8,800 Shares of ATI Inc. (NYSE:ATI)

Louisiana State Employees Retirement System increased its position in ATI Inc. (NYSE:ATI) by 14.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,000 shares of the basic materials company’s stock after buying an additional 8,800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in ATI were worth $3,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. bought a new stake in ATI in the 3rd quarter worth approximately $765,000. Franklin Resources Inc. increased its stake in ATI by 16.2% in the 3rd quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock worth $27,993,000 after purchasing an additional 61,999 shares during the period. Advisors Asset Management Inc. increased its stake in ATI by 16.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 77,022 shares of the basic materials company’s stock worth $5,154,000 after purchasing an additional 11,154 shares during the period. Covea Finance increased its stake in ATI by 32.7% in the 4th quarter. Covea Finance now owns 65,000 shares of the basic materials company’s stock worth $3,578,000 after purchasing an additional 16,000 shares during the period. Finally, Forest Avenue Capital Management LP purchased a new position in ATI in the 3rd quarter worth approximately $28,700,000.

ATI Price Performance

ATI opened at $60.70 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.44 and a current ratio of 2.44. ATI Inc. has a 52-week low of $41.37 and a 52-week high of $68.92. The stock has a market capitalization of $8.66 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 1.69 and a beta of 1.10. The stock’s 50 day moving average price is $57.39 and its 200-day moving average price is $60.20.

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

Insider Activity at ATI

In related news, SVP Tina Killough Busch sold 2,598 shares of ATI stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the sale, the senior vice president now directly owns 21,553 shares in the company, valued at $1,293,611.06. The trade was a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction that occurred on 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 in the company, valued at $25,745,772.57. This represents a 5.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,498 shares of company stock worth $2,288,141 over the last ninety days. 0.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ATI has been the topic of a number of analyst reports. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. StockNews.com raised ATI from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Susquehanna lifted their price target on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. Finally, Barclays lifted their price target on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, ATI has an average rating of “Moderate Buy” and an average price target of $74.86.

About ATI

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.