Principal Financial Group Inc. Cuts Holdings in ATI Inc. (NYSE:ATI)

Principal Financial Group Inc. trimmed its position in ATI Inc. (NYSE:ATIFree Report) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 663,754 shares of the basic materials company’s stock after selling 23,747 shares during the period. Principal Financial Group Inc. owned approximately 0.52% of ATI worth $30,181,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in ATI by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,317,722 shares of the basic materials company’s stock valued at $105,394,000 after acquiring an additional 139,694 shares in the last quarter. Palestra Capital Management LLC boosted its stake in ATI by 839.0% in the third quarter. Palestra Capital Management LLC now owns 2,190,728 shares of the basic materials company’s stock valued at $90,148,000 after acquiring an additional 1,957,416 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ATI by 34.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,581,625 shares of the basic materials company’s stock valued at $65,084,000 after acquiring an additional 404,797 shares in the last quarter. Northern Trust Corp boosted its stake in ATI by 4.5% in the third quarter. Northern Trust Corp now owns 1,441,549 shares of the basic materials company’s stock valued at $59,320,000 after acquiring an additional 61,582 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in ATI by 3.3% in the fourth quarter. Federated Hermes Inc. now owns 1,258,969 shares of the basic materials company’s stock valued at $57,245,000 after acquiring an additional 40,419 shares in the last quarter.

ATI Trading Down 0.5 %

NYSE ATI opened at $60.27 on Friday. The company has a market capitalization of $7.50 billion, a PE ratio of 24.20, a P/E/G ratio of 1.55 and a beta of 1.17. The company has a fifty day moving average of $52.95 and a 200 day moving average of $46.92. ATI Inc. has a 1 year low of $34.10 and a 1 year high of $62.44. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.81 and a quick ratio of 1.37.

ATI (NYSE:ATIGet Free Report) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. ATI had a net margin of 8.70% and a return on equity of 23.72%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. Research analysts forecast that ATI Inc. will post 2.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ATI. TheStreet upgraded shares of ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ATI in a research note on Thursday, April 11th. They set a “buy” rating and a $70.00 price objective for the company. KeyCorp lifted their price objective on shares of ATI from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Barclays lifted their price objective on shares of ATI from $55.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.00.

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ATI Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ATI (NYSE:ATI)

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