Federated Hermes Inc. Has $57.25 Million Stock Holdings in ATI Inc. (NYSE:ATI)

Federated Hermes Inc. grew its position in ATI Inc. (NYSE:ATI) by 3.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,258,969 shares of the basic materials company’s stock after purchasing an additional 40,419 shares during the period. Federated Hermes Inc. owned about 0.99% of ATI worth $57,245,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Clearstead Advisors LLC lifted its position in ATI by 295.9% during the 3rd quarter. Clearstead Advisors LLC now owns 669 shares of the basic materials company’s stock worth $28,000 after buying an additional 500 shares in the last quarter. Belpointe Asset Management LLC lifted its position in ATI by 65.3% during the 1st quarter. Belpointe Asset Management LLC now owns 843 shares of the basic materials company’s stock worth $33,000 after buying an additional 333 shares in the last quarter. Covestor Ltd lifted its position in ATI by 73.1% during 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 in the last quarter. Point72 Middle East FZE acquired a new position in ATI during the 4th quarter worth about $75,000. Finally, Harbour Investments Inc. acquired a new position in ATI during the 4th quarter worth about $127,000.

Insider Buying and Selling

In related news, VP Timothy J. Harris sold 6,325 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.44, for a total transaction of $268,433.00. Following the completion of the sale, the vice president now directly owns 109,331 shares of the company’s stock, valued at approximately $4,640,007.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.71% of the stock is owned by company insiders.

ATI Stock Performance

Shares of ATI stock opened at $50.56 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.80 and a quick ratio of 1.53. The stock has a market cap of $6.29 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22. The stock has a 50-day moving average of $49.04 and a 200-day moving average of $44.27. ATI Inc. has a one year low of $34.10 and a one year high of $52.98.

ATI (NYSE:ATI) last announced its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. ATI had a return on equity of 24.64% and a net margin of 8.81%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business posted $0.53 EPS. ATI’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts expect that ATI Inc. will post 2.26 earnings per share for the current year.

Analysts Set New Price Targets

ATI has been the topic of several research reports. TheStreet upgraded shares of ATI from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. KeyCorp upped their target price on shares of ATI from $49.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of ATI in a research report on Thursday, April 11th. They set a “buy” rating and a $70.00 target price on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.67.

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.