PNC Financial Services Group Inc. Boosts Holdings in ATI Inc. (NYSE:ATI)

PNC Financial Services Group Inc. lifted its stake in ATI Inc. (NYSE:ATI) by 32.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,948 shares of the basic materials company’s stock after buying an additional 25,964 shares during the period. PNC Financial Services Group Inc.’s holdings in ATI were worth $5,831,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Apollon Wealth Management LLC grew its position in ATI by 7.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 6,514 shares of the basic materials company’s stock worth $436,000 after purchasing an additional 457 shares during the last quarter. GSA Capital Partners LLP grew its position in ATI by 15.1% during the 3rd quarter. GSA Capital Partners LLP now owns 7,763 shares of the basic materials company’s stock worth $519,000 after purchasing an additional 1,021 shares during the last quarter. Souders Financial Advisors grew its position in ATI by 6.1% during the 3rd quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company’s stock worth $477,000 after purchasing an additional 411 shares during the last quarter. KBC Group NV grew its position in ATI by 12.9% during the 3rd quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 385 shares during the last quarter. Finally, ING Groep NV purchased a new position in ATI during the 3rd quarter worth $3,212,000.

ATI Stock Down 1.8 %

Shares of NYSE ATI opened at $50.97 on Thursday. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. ATI Inc. has a 52 week low of $47.58 and a 52 week high of $68.92. The firm has a 50-day moving average price of $58.02 and a 200 day moving average price of $59.33. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 0.85 and a beta of 1.14.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of ATI stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $66.41, for a total transaction of $657,459.00. Following the completion of the transaction, the senior vice president now owns 25,994 shares in the company, valued at approximately $1,726,261.54. The trade was a 27.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.71% of the stock is currently owned by company insiders.

ATI 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.