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

Principal Financial Group Inc. increased its holdings in shares of ATI Inc. (NYSE:ATI) by 17.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 690,215 shares of the basic materials company’s stock after acquiring an additional 104,267 shares during the period. Principal Financial Group Inc. owned about 0.48% of ATI worth $37,989,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ATI. Creative Planning grew its position in ATI by 12.9% during the 3rd quarter. Creative Planning now owns 27,894 shares of the basic materials company’s stock worth $1,866,000 after acquiring an additional 3,179 shares during the last quarter. Raymond James & Associates grew its position in ATI by 159.2% during the 3rd quarter. Raymond James & Associates now owns 119,358 shares of the basic materials company’s stock worth $7,986,000 after acquiring an additional 73,308 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in ATI by 3.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock worth $360,000 after acquiring an additional 172 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in ATI by 13.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,333 shares of the basic materials company’s stock worth $1,093,000 after acquiring an additional 1,936 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in ATI during the 3rd quarter worth approximately $307,000.

ATI Stock Down 4.9 %

NYSE:ATI opened at $57.95 on Friday. The stock’s fifty day moving average price is $57.90 and its two-hundred day moving average price is $60.04. 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 company has a market cap of $8.27 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 0.90 and a beta of 1.10. ATI Inc. has a 52-week low of $45.61 and a 52-week high of $68.92.

ATI (NYSE:ATI) last posted 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. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.07 billion. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 EPS. On average, analysts anticipate that ATI Inc. will post 2.89 EPS for the current year.

Insider Activity

In other news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $66.41, for a total value of $657,459.00. Following the transaction, the senior vice president now owns 25,994 shares of the company’s stock, valued at $1,726,261.54. This represents a 27.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value of $1,474,750.00. Following the completion of the transaction, the chairman now directly owns 436,443 shares in the company, valued at approximately $25,745,772.57. This trade represents a 5.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,498 shares of company stock valued at $2,288,141 in the last 90 days. 0.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ATI. Susquehanna increased their price target on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research report on Wednesday, February 5th. Barclays increased their price target on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Benchmark upped their price objective on ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, StockNews.com raised ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, ATI currently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

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.