ATI Inc. (NYSE:ATI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in ATI Inc. (NYSE:ATI - Free Report) by 4.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 585,948 shares of the basic materials company's stock after selling 24,867 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of ATI worth $39,206,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP bought a new position in shares of ATI during the 2nd quarter worth $26,000. UMB Bank n.a. increased its stake in shares of ATI by 557.0% in the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company's stock worth $62,000 after acquiring an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of ATI by 294.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company's stock worth $69,000 after acquiring an additional 1,010 shares during the last quarter. Quest Partners LLC acquired a new position in shares of ATI in the second quarter worth $88,000. Finally, GAMMA Investing LLC boosted its holdings in ATI by 66.0% in the third quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company's stock worth $224,000 after purchasing an additional 1,330 shares in the last quarter.

Insider Buying and Selling

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total value of $1,555,750.00. Following the completion of the transaction, the chairman now directly owns 486,443 shares in the company, valued at approximately $30,271,347.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.71% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ATI shares. KeyCorp lowered shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on shares of ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Susquehanna reduced their price objective on shares of ATI from $75.00 to $70.00 and set a "positive" rating for the company in a report on Wednesday, October 30th. Benchmark reaffirmed a "buy" rating and issued a $80.00 price target on shares of ATI in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $73.71.

ATI Price Performance

ATI stock traded down $0.99 during mid-day trading on Tuesday, reaching $58.51. 747,687 shares of the company traded hands, compared to its average volume of 1,465,101. The company has a fifty day moving average price of $61.53 and a 200-day moving average price of $60.58. The company has a market capitalization of $8.35 billion, a P/E ratio of 22.89, a P/E/G ratio of 2.01 and a beta of 1.08. ATI Inc. has a 52-week low of $38.04 and a 52-week high of $68.92. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44.

ATI (NYSE:ATI - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.06). The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The business's quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.55 EPS. As a group, analysts anticipate that ATI Inc. will post 2.27 earnings per share for the current year.

ATI declared that its Board of Directors has approved a stock repurchase program on Tuesday, September 3rd that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the basic materials company to purchase up to 9.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

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.