Federated Hermes Inc. Raises Holdings in ATI Inc. (NYSE:ATI)

Federated Hermes Inc. grew its position in shares of ATI Inc. (NYSE:ATI) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,258,969 shares of the basic materials company’s stock after buying an additional 40,419 shares during the period. Federated Hermes Inc.’s holdings in ATI were worth $57,245,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Evergreen Capital Management LLC lifted its holdings in ATI by 4.1% during the 3rd quarter. Evergreen Capital Management LLC now owns 6,582 shares of the basic materials company’s stock worth $271,000 after purchasing an additional 258 shares in the last quarter. Inspire Investing LLC lifted its holdings in ATI by 4.1% during the 3rd quarter. Inspire Investing LLC now owns 7,409 shares of the basic materials company’s stock worth $305,000 after purchasing an additional 291 shares in the last quarter. Belpointe Asset Management LLC increased its stake in ATI by 65.3% in the 1st quarter. Belpointe Asset Management LLC now owns 843 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 333 shares during the last quarter. Guidance Capital Inc. increased its stake in ATI by 6.4% in the 3rd quarter. Guidance Capital Inc. now owns 6,343 shares of the basic materials company’s stock worth $258,000 after acquiring an additional 382 shares during the last quarter. Finally, Covestor Ltd increased its stake 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 acquiring an additional 441 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ATI. Deutsche Bank Aktiengesellschaft began coverage on ATI in a research note on Thursday, April 11th. They issued a “buy” rating and a $70.00 target price on the stock. TheStreet upgraded ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Finally, KeyCorp upped their target price on ATI from $49.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.67.

Insider Activity at ATI

In related news, VP Timothy J. Harris sold 6,325 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,640,007.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.71% of the stock is currently owned by company insiders.

ATI Price Performance

Shares of ATI stock opened at $50.56 on Friday. The company has a current ratio of 2.80, a quick ratio of 1.53 and a debt-to-equity ratio of 1.45. The firm has a market capitalization 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 business’s 50-day moving average price is $49.04 and its 200-day moving average price is $44.27. ATI Inc. has a 12 month low of $34.10 and a 12 month high of $52.98.

ATI (NYSE:ATI) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. ATI had a return on equity of 24.64% and a net margin of 8.81%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 EPS. Sell-side analysts forecast that ATI Inc. will post 2.26 EPS for the current fiscal year.

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.