PNC Financial Services Group Inc. Boosts Holdings in ATI Inc. (NYSE:ATI)

PNC Financial Services Group Inc. lifted its stake in shares of ATI Inc. (NYSE:ATI) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,050 shares of the basic materials company’s stock after purchasing an additional 216 shares during the period. PNC Financial Services Group Inc. owned about 0.07% of ATI worth $3,822,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Covestor Ltd boosted its holdings in ATI by 73.1% in the 3rd quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock worth $43,000 after buying an additional 441 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of ATI during the fourth quarter worth approximately $58,000. Edmond DE Rothschild Holding S.A. increased its position in shares of ATI by 211.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,651 shares of the basic materials company’s stock worth $121,000 after purchasing an additional 1,800 shares in the last quarter. Quest Partners LLC acquired a new position in ATI in the 4th quarter valued at $174,000. Finally, TFO Wealth Partners LLC lifted its holdings in ATI by 103,225.0% in the 4th quarter. TFO Wealth Partners LLC now owns 4,133 shares of the basic materials company’s stock valued at $182,000 after purchasing an additional 4,129 shares in the last quarter.

ATI Stock Performance

Shares of ATI stock opened at $55.20 on Thursday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.37 and a current ratio of 2.81. The firm has a market cap of $6.87 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.40 and a beta of 1.12. The firm’s 50 day moving average price is $57.02 and its 200-day moving average price is $49.41. ATI Inc. has a one year low of $35.03 and a one year high of $62.44.

ATI (NYSE:ATI) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. ATI had a return on equity of 23.72% and a net margin of 8.70%. The firm’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. As a group, equities research analysts predict that ATI Inc. will post 2.45 EPS for the current year.

Analyst Upgrades and Downgrades

ATI has been the subject of a number of recent research reports. Barclays increased their price objective on shares of ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft started coverage on ATI in a research report on Thursday, April 11th. They set a “buy” rating and a $70.00 price objective on the stock. Northcoast Research downgraded ATI from a “neutral” rating to a “sell” rating in a research note on Friday, June 14th. Finally, KeyCorp boosted their price target on shares of ATI from $58.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.60.

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.