Public Sector Pension Investment Board Has $17.67 Million Stock Holdings in ATI Inc. (NYSE:ATI)

Public Sector Pension Investment Board trimmed its holdings in shares of ATI Inc. (NYSE:ATI) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 264,086 shares of the basic materials company’s stock after selling 9,700 shares during the period. Public Sector Pension Investment Board owned approximately 0.19% of ATI worth $17,670,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in ATI by 1.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,482 shares of the basic materials company’s stock worth $1,906,000 after purchasing an additional 531 shares during the last quarter. Forest Avenue Capital Management LP acquired a new position in shares of ATI during the 3rd quarter valued at about $28,700,000. Glenmede Trust Co. NA increased its holdings in shares of ATI by 3.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 21,100 shares of the basic materials company’s stock valued at $1,412,000 after acquiring an additional 753 shares during the last quarter. Townsquare Capital LLC acquired a new position in shares of ATI during the 3rd quarter valued at about $286,000. Finally, Quantbot Technologies LP acquired a new position in shares of ATI during the 3rd quarter valued at about $969,000.

ATI Price Performance

Shares of NYSE:ATI opened at $60.12 on Friday. ATI Inc. has a 1-year low of $38.04 and a 1-year high of $68.92. The firm has a market capitalization of $8.58 billion, a PE ratio of 23.12, a PEG ratio of 2.08 and a beta of 1.08. The business’s 50 day moving average is $60.98 and its 200-day moving average is $60.58. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97.

ATI (NYSE:ATI) last announced its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.06). ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business posted $0.55 EPS. ATI’s revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts predict that ATI Inc. will post 2.27 earnings per share for the current year.

ATI declared that its board has approved a stock buyback program on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the basic materials company to reacquire up to 9.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on ATI shares. Susquehanna lowered their price objective on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, ATI has an average rating of “Moderate Buy” and a consensus price target of $73.71.

Insider Transactions at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the completion of the transaction, the chairman now owns 486,443 shares in the company, valued at $30,271,347.89. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is owned by insiders.

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.