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

Principal Financial Group Inc. boosted its position in ATI Inc. (NYSE:ATI - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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. owned approximately 0.48% of ATI worth $37,989,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Wealth Partners LLC bought a new position in shares of ATI in the 4th quarter worth about $25,000. Quarry LP grew 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 worth $59,000 after buying an additional 412 shares during the period. Blue Trust Inc. grew its position in shares of 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 buying an additional 1,516 shares during the period. KBC Group NV increased its stake in shares of ATI by 12.9% in the 3rd quarter. KBC Group NV now owns 3,362 shares of the basic materials company's stock valued at $225,000 after acquiring an additional 385 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of ATI during the 3rd quarter valued at $249,000.

Insider Transactions at ATI

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the transaction, the senior vice president now directly owns 25,994 shares in the company, valued at $1,726,261.54. The trade was a 27.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the sale, the chairman now owns 436,443 shares of the company's stock, valued at approximately $25,745,772.57. The trade was a 5.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,498 shares of company stock worth $2,288,141 in the last 90 days. Insiders own 1.05% of the company's stock.

Wall Street Analyst Weigh In

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

ATI Stock Down 1.5 %

ATI traded down $0.88 during mid-day trading on Tuesday, reaching $56.27. 1,644,089 shares of the stock were exchanged, compared to its average volume of 1,513,786. ATI Inc. has a 1 year low of $45.91 and a 1 year high of $68.92. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.32 and a current ratio of 2.44. The stock has a market capitalization of $8.03 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 0.85 and a beta of 1.10. The company has a 50 day moving average price of $57.93 and a two-hundred day moving average price of $59.97.

ATI (NYSE:ATI - Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm earned $0.64 earnings per share. The firm's revenue was up 10.2% on a year-over-year basis. As a group, research analysts anticipate that ATI Inc. will post 2.89 EPS for the current 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.