Principal Financial Group Inc. Purchases 104,267 Shares of ATI Inc. (NYSE:ATI)

Principal Financial Group Inc. lifted its position in ATI Inc. (NYSE:ATI) by 17.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 690,215 shares of the basic materials company’s stock after buying an additional 104,267 shares during the period. Principal Financial Group Inc.’s holdings in ATI were worth $37,989,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. ORG Wealth Partners LLC bought a new stake in shares of ATI in the 4th quarter valued at $25,000. Quarry LP increased its holdings in ATI by 86.4% during the 3rd quarter. Quarry LP now owns 889 shares of the basic materials company’s stock worth $59,000 after purchasing an additional 412 shares in the last quarter. Blue Trust Inc. increased its holdings in ATI by 137.7% during the 4th quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 1,516 shares in the last quarter. KBC Group NV increased its holdings 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 in the last quarter. Finally, CIBC Asset Management Inc bought a new position in ATI during the 3rd quarter worth about $249,000.

ATI Price Performance

Shares of NYSE ATI opened at $57.95 on Friday. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 0.90 and a beta of 1.10. The business has a 50-day moving average of $57.90 and a 200-day moving average of $60.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. ATI Inc. has a fifty-two week low of $45.61 and a fifty-two week high of $68.92.

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 the consensus estimate of $0.60 by $0.19. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. ATI had a return on equity of 21.16% and a net margin of 8.43%. ATI’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. As a group, sell-side analysts predict that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at ATI

In related news, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total value of $155,931.96. Following the completion of the sale, the senior vice president now directly owns 21,553 shares in the company, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the completion of the sale, the chairman now owns 436,443 shares of the company’s stock, valued at $25,745,772.57. This trade represents a 5.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,498 shares of company stock worth $2,288,141. Insiders own 0.71% of the company’s stock.

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.