Federated Hermes Inc. Decreases Stock Holdings in ATI Inc. (NYSE:ATI)

Federated Hermes Inc. reduced its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 76.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of ATI by 14.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company's stock worth $86,031,000 after purchasing an additional 191,823 shares during the period. Franklin Resources Inc. increased its position in ATI by 16.2% during the third quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company's stock valued at $27,993,000 after acquiring an additional 61,999 shares during the last quarter. Covea Finance raised its stake in shares of ATI by 32.7% in the fourth quarter. Covea Finance now owns 65,000 shares of the basic materials company's stock valued at $3,578,000 after acquiring an additional 16,000 shares during the period. Blue Trust Inc. lifted its holdings in shares of ATI by 137.7% in the 4th quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company's stock worth $144,000 after acquiring an additional 1,516 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of ATI during the 4th quarter worth about $618,000.

Analyst Ratings Changes

A number of analysts recently weighed in on ATI shares. Susquehanna increased their price objective on shares of ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a research report on Wednesday, February 5th. StockNews.com upgraded ATI from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. Barclays boosted their price objective on ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Finally, Benchmark increased their target price on 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 assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, ATI presently has an average rating of "Moderate Buy" and a consensus target price of $75.00.

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ATI Stock Up 3.9 %

Shares of ATI stock traded up $1.83 during mid-day trading on Monday, hitting $48.56. The stock had a trading volume of 179,793 shares, compared to its average volume of 2,084,663. ATI Inc. has a 12-month low of $39.23 and a 12-month high of $68.92. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. The firm's 50-day moving average is $54.42 and its two-hundred day moving average is $57.15. The firm has a market capitalization of $6.85 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 0.85 and a beta of 0.80.

ATI (NYSE:ATI - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.19. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.07 billion. ATI had a net margin of 8.43% and a return on equity of 21.16%. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. On average, analysts predict that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Activity

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the completion of the sale, the senior vice president now owns 25,994 shares in the company, valued at $1,726,261.54. This represents a 27.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.71% of the company's stock.

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.