Federated Hermes Inc. Decreases Stake in ATI Inc. (NYSE:ATI)

Federated Hermes Inc. decreased its holdings in shares of ATI Inc. (NYSE:ATI) by 76.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 429,545 shares of the basic materials company’s stock after selling 1,356,601 shares during the quarter. Federated Hermes Inc. owned about 0.30% of ATI worth $23,642,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ATI. Charles Schwab Investment Management Inc. boosted its position in ATI by 14.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company’s stock worth $86,031,000 after acquiring an additional 191,823 shares during the last quarter. Franklin Resources Inc. lifted its stake in ATI by 16.2% in the 3rd quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock worth $27,993,000 after purchasing an additional 61,999 shares in the last quarter. Covea Finance boosted its holdings in shares of ATI by 32.7% during the 4th quarter. Covea Finance now owns 65,000 shares of the basic materials company’s stock worth $3,578,000 after purchasing an additional 16,000 shares during the last quarter. Blue Trust Inc. grew its position in shares of ATI by 137.7% in the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 1,516 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of ATI in the fourth quarter valued at approximately $618,000.

ATI Stock Down 1.4 %

Shares of NYSE:ATI opened at $41.94 on Wednesday. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 0.85 and a beta of 0.80. ATI Inc. has a 12-month low of $39.23 and a 12-month high of $68.92. The business has a 50-day moving average price of $55.34 and a 200 day moving average price of $57.64. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88.

ATI (NYSE:ATI) last announced 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. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the business earned $0.64 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts expect that ATI Inc. will post 2.89 EPS for the current year.

Analyst Upgrades and Downgrades

ATI has been the topic of a number of recent research reports. StockNews.com raised ATI from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Susquehanna boosted their price target on shares of ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research report on Wednesday, February 5th. Barclays upped their price objective on shares of ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Benchmark lifted their target price on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

Insider Activity at ATI

In related news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the transaction, the senior vice president now owns 25,994 shares of the company’s stock, valued at approximately $1,726,261.54. This represents a 27.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.05% of the stock is owned by insiders.

About ATI

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.