PNC Financial Services Group Inc. Reduces Position in ATI Inc. $ATI

PNC Financial Services Group Inc. decreased its holdings in shares of ATI Inc. (NYSE:ATI) by 23.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 57,857 shares of the basic materials company’s stock after selling 18,063 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ATI were worth $4,995,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Invesco Ltd. boosted its holdings in ATI by 3.3% during the 1st quarter. Invesco Ltd. now owns 4,850,439 shares of the basic materials company’s stock valued at $252,368,000 after acquiring an additional 153,939 shares during the period. Dimensional Fund Advisors LP increased its stake in ATI by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,617,314 shares of the basic materials company’s stock worth $136,164,000 after purchasing an additional 59,811 shares during the period. American Century Companies Inc. lifted its position in shares of ATI by 4.5% during the first quarter. American Century Companies Inc. now owns 1,422,116 shares of the basic materials company’s stock worth $73,993,000 after purchasing an additional 60,651 shares during the last quarter. Bowen Hanes & Co. Inc. boosted its stake in shares of ATI by 0.3% during the first quarter. Bowen Hanes & Co. Inc. now owns 1,371,335 shares of the basic materials company’s stock valued at $71,351,000 after purchasing an additional 4,420 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of ATI by 33.4% during the first quarter. Northern Trust Corp now owns 1,262,761 shares of the basic materials company’s stock valued at $65,701,000 after purchasing an additional 316,090 shares during the period.

Insiders Place Their Bets

In other news, VP Timothy J. Harris sold 10,543 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $97.69, for a total value of $1,029,945.67. Following the completion of the transaction, the vice president directly owned 119,394 shares of the company’s stock, valued at approximately $11,663,599.86. The trade was a 8.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kimberly A. Fields sold 21,153 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $85.87, for a total value of $1,816,408.11. Following the sale, the chief executive officer owned 202,668 shares of the company’s stock, valued at $17,403,101.16. This trade represents a 9.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 99,646 shares of company stock valued at $8,461,892. 1.10% of the stock is owned by company insiders.

ATI Trading Up 0.8%

NYSE:ATI opened at $99.32 on Monday. The firm has a 50-day simple moving average of $86.10 and a 200-day simple moving average of $82.43. ATI Inc. has a one year low of $39.23 and a one year high of $103.64. The firm has a market cap of $13.49 billion, a P/E ratio of 32.14, a P/E/G ratio of 1.47 and a beta of 1.32. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.20 and a current ratio of 2.50.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. ATI had a net margin of 9.71% and a return on equity of 23.34%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. ATI has set its FY 2025 guidance at 3.150-3.21 EPS. Q4 2025 guidance at 0.840-0.90 EPS. Equities analysts anticipate that ATI Inc. will post 2.89 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on ATI. Barclays raised their price target on shares of ATI from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. JPMorgan Chase & Co. upped their target price on shares of ATI from $75.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. BTIG Research reaffirmed a “buy” rating and set a $120.00 price target on shares of ATI in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft set a $98.00 price target on ATI in a report on Wednesday, October 8th. Finally, KeyCorp upgraded ATI from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a report on Thursday. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.00.

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.