Principal Financial Group Inc. decreased its position in ATI Inc. (NYSE:ATI - Free Report) by 52.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 327,220 shares of the basic materials company's stock after selling 362,995 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of ATI worth $17,025,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of ATI by 39.2% in the 1st quarter. GAMMA Investing LLC now owns 3,478 shares of the basic materials company's stock valued at $181,000 after buying an additional 979 shares during the period. KBC Group NV grew its holdings in shares of ATI by 14.2% in the 1st quarter. KBC Group NV now owns 5,779 shares of the basic materials company's stock valued at $301,000 after buying an additional 720 shares during the period. Bessemer Group Inc. grew its holdings in shares of ATI by 139.9% in the 1st quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock valued at $34,000 after buying an additional 386 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of ATI by 418.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company's stock valued at $69,000 after buying an additional 1,062 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in ATI in the 4th quarter worth $463,000.
Wall Street Analysts Forecast Growth
Several brokerages have commented on ATI. Benchmark reissued a "buy" rating and set a $81.00 price target on shares of ATI in a research report on Monday, April 21st. KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, May 20th. Citigroup raised shares of ATI to a "positive" rating in a report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft set a $115.00 target price on shares of ATI and gave the company a "hold" rating in a report on Tuesday. Finally, BTIG Research set a $105.00 price target on shares of ATI and gave the company a "buy" rating in a report on Wednesday, May 28th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, ATI has an average rating of "Moderate Buy" and a consensus target price of $82.71.
Read Our Latest Analysis on ATI
Insiders Place Their Bets
In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $83.93, for a total value of $4,196,500.00. Following the sale, the chairman owned 356,538 shares in the company, valued at $29,924,234.34. This trade represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 195,359 shares of company stock valued at $15,103,486 in the last quarter. Company insiders own 1.10% of the company's stock.
ATI Price Performance
Shares of NYSE ATI traded up $1.23 during trading hours on Friday, hitting $89.28. 1,222,404 shares of the stock were exchanged, compared to its average volume of 1,736,861. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.30 and a current ratio of 2.53. The company has a market cap of $12.59 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. The company's fifty day simple moving average is $80.75 and its two-hundred day simple moving average is $63.68. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $89.48.
ATI (NYSE:ATI - Get Free Report) last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. ATI had a net margin of 8.93% and a return on equity of 21.37%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $0.48 earnings per share. The company's quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts predict that ATI Inc. will post 2.89 EPS for the current year.
About ATI
(
Free Report)
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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