ATI Inc. (NYSE:ATI) Shares Sold by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. reduced its stake in ATI Inc. by 28.3%, selling 30,028 shares and leaving it with approximately 0.05% ownership valued at $3.95 million.
• Several large investors increased their positions in ATI during the fourth quarter, with Invesco Ltd. raising its stake by 4.5%, while Renaissance Technologies LLC boosted its holdings by a significant 102.1%.
• Analysts have a consensus rating of “Moderate Buy” for ATI Inc., with an average price target of $93.29, despite recent mixed ratings from various investment firms.

PNC Financial Services Group Inc. decreased its holdings in shares of ATI Inc. (NYSE:ATI - Free Report) by 28.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,920 shares of the basic materials company's stock after selling 30,028 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.05% of ATI worth $3,950,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Invesco Ltd. raised its position in shares of ATI by 4.5% during the 4th quarter. Invesco Ltd. now owns 4,696,500 shares of the basic materials company's stock worth $258,495,000 after purchasing an additional 203,742 shares during the period. Legal & General Group Plc grew its stake in ATI by 4.4% during the 4th quarter. Legal & General Group Plc now owns 401,083 shares of the basic materials company's stock worth $22,076,000 after buying an additional 16,830 shares during the last quarter. Renaissance Technologies LLC increased its position in ATI by 102.1% in the fourth quarter. Renaissance Technologies LLC now owns 178,192 shares of the basic materials company's stock worth $9,808,000 after buying an additional 90,000 shares during the period. Advisory Services Network LLC lifted its stake in ATI by 2.3% in the fourth quarter. Advisory Services Network LLC now owns 23,559 shares of the basic materials company's stock valued at $1,297,000 after buying an additional 533 shares during the last quarter. Finally, CenterBook Partners LP acquired a new position in shares of ATI during the fourth quarter valued at $224,000.

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $74.66, for a total value of $3,733,000.00. Following the sale, the chairman directly owned 306,538 shares in the company, valued at $22,886,127.08. The trade was a 14.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David J. Morehouse sold 7,900 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $75.81, for a total transaction of $598,899.00. Following the sale, the director owned 44,777 shares of the company's stock, valued at $3,394,544.37. The trade was a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 203,259 shares of company stock valued at $16,026,385. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Benchmark reaffirmed a "buy" rating and issued a $81.00 price objective on shares of ATI in a report on Monday, April 21st. BTIG Research set a $120.00 price target on ATI and gave the company a "buy" rating in a report on Monday. Citigroup upgraded ATI to a "positive" rating in a research report on Tuesday, May 20th. KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, May 20th. Finally, Susquehanna reduced their price target on ATI from $105.00 to $100.00 and set a "positive" rating for the company in a research report on Friday, August 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $93.29.

ATI Price Performance

Shares of NYSE:ATI opened at $73.80 on Friday. The stock has a market cap of $10.17 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 1.02 and a beta of 1.20. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.52 and a quick ratio of 1.20. ATI Inc. has a 12 month low of $39.23 and a 12 month high of $96.20. The stock's 50 day moving average price is $85.65 and its 200 day moving average price is $67.80.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.15 billion. ATI had a return on equity of 21.34% and a net margin of 9.26%. The company's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. Equities research analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

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.

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