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

PNC Financial Services Group Inc. increased its position in shares of ATI Inc. (NYSE:ATI) by 32.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,948 shares of the basic materials company’s stock after acquiring an additional 25,964 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.07% of ATI worth $5,831,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new position in shares of ATI during the 4th quarter valued at about $25,000. Quarry LP boosted its position in shares of ATI by 86.4% during the 3rd quarter. Quarry LP now owns 889 shares of the basic materials company’s stock valued at $59,000 after acquiring an additional 412 shares during the last quarter. Mainstream Capital Management LLC acquired a new position in shares of ATI during the 4th quarter valued at about $94,000. Smartleaf Asset Management LLC raised its holdings in ATI by 236.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company’s stock valued at $132,000 after buying an additional 1,690 shares during the period. Finally, Blue Trust Inc. raised its holdings in ATI by 137.7% in the 4th quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company’s stock valued at $144,000 after buying an additional 1,516 shares during the period.

ATI Price Performance

ATI stock opened at $50.97 on Thursday. The firm has a market cap of $7.25 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 0.85 and a beta of 1.14. ATI Inc. has a 52-week low of $47.58 and a 52-week high of $68.92. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. The company’s 50 day moving average is $58.02 and its two-hundred day moving average is $59.33.

ATI (NYSE:ATI) last announced its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business earned $0.64 EPS. The company’s revenue was up 10.2% on a year-over-year basis. On average, research analysts expect that ATI Inc. will post 2.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ATI shares. StockNews.com upgraded shares of ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Benchmark boosted their price objective on shares of ATI from $80.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Barclays boosted their price objective on shares of ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Susquehanna boosted their price objective on shares of ATI from $70.00 to $73.00 and gave the company a “positive” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ATI presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

Insider Activity

In other news, SVP Tina Killough Busch sold 9,900 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the sale, the senior vice president now directly owns 25,994 shares in the company, valued at approximately $1,726,261.54. This trade represents a 27.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.71% of the company’s stock.

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.