Federated Hermes Inc. Grows Position in ATI Inc. $ATI

Federated Hermes Inc. grew its position in shares of ATI Inc. (NYSE:ATI) by 9.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 491,849 shares of the basic materials company’s stock after acquiring an additional 43,364 shares during the quarter. Federated Hermes Inc. owned 0.36% of ATI worth $40,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ATI. Royal Bank of Canada boosted its holdings in ATI by 8.1% during the first quarter. Royal Bank of Canada now owns 60,369 shares of the basic materials company’s stock worth $3,140,000 after purchasing an additional 4,542 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of ATI by 49.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 633,948 shares of the basic materials company’s stock worth $32,984,000 after buying an additional 209,480 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of ATI by 10.9% in the second quarter. Farther Finance Advisors LLC now owns 1,459 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 143 shares in the last quarter. Fifth Third Bancorp increased its position in shares of ATI by 11.4% during the second quarter. Fifth Third Bancorp now owns 1,252 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 128 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in ATI by 117.7% during the second quarter. Signaturefd LLC now owns 381 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 206 shares during the period.

Wall Street Analyst Weigh In

ATI has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ATI in a research report on Monday, December 29th. BTIG Research restated a “buy” rating and set a $120.00 price objective on shares of ATI in a report on Wednesday, October 29th. Susquehanna reiterated a “positive” rating and issued a $145.00 target price on shares of ATI in a research note on Thursday, January 15th. JPMorgan Chase & Co. increased their target price on shares of ATI from $118.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Finally, Deutsche Bank Aktiengesellschaft set a $98.00 price objective on ATI in a research note on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $117.75.

ATI Stock Up 0.0%

ATI opened at $121.78 on Friday. ATI Inc. has a 12 month low of $39.23 and a 12 month high of $127.11. The company has a market cap of $16.54 billion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 1.17 and a beta of 1.02. The company has a current ratio of 2.50, a quick ratio of 1.18 and a debt-to-equity ratio of 0.94. The company has a 50 day moving average of $113.19 and a 200 day moving average of $94.37.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, October 28th. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 23.34% and a net margin of 9.71%.The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. On average, sell-side analysts expect that ATI Inc. will post 2.89 EPS for the current year.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 60,000 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $98.34, for a total value of $5,900,400.00. Following the transaction, the chairman owned 246,538 shares of the company’s stock, valued at approximately $24,244,546.92. This represents a 19.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Tina Killough Busch sold 2,598 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $93.26, for a total value of $242,289.48. Following the completion of the sale, the senior vice president owned 21,274 shares in the company, valued at $1,984,013.24. This trade represents a 10.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 158,630 shares of company stock valued at $16,144,855. Corporate insiders own 1.10% of the company’s stock.

ATI Company Profile

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.