ATI Inc. (NYSE:ATI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in ATI Inc. (NYSE:ATI - Free Report) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,289,215 shares of the basic materials company's stock after selling 20,781 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.04% of ATI worth $86,261,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ATI. Quarry LP acquired a new stake in shares of ATI during the second quarter valued at $26,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of ATI during the first quarter worth about $51,000. UMB Bank n.a. raised its position in shares of ATI by 557.0% in the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company's stock valued at $62,000 after buying an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of ATI by 294.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company's stock valued at $69,000 after buying an additional 1,010 shares during the period. Finally, Quest Partners LLC acquired a new stake in ATI during the second quarter worth approximately $88,000.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. BTIG Research initiated coverage on ATI in a report on Wednesday, June 26th. They issued a "buy" rating and a $70.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their target price on ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Susquehanna initiated coverage on ATI in a research report on Thursday, September 5th. They set a "positive" rating and a $75.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. Finally, Benchmark reiterated a "buy" rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.43.

ATI Trading Up 0.4 %

Shares of NYSE ATI traded up $0.26 during midday trading on Monday, hitting $63.38. The stock had a trading volume of 958,005 shares, compared to its average volume of 1,416,893. The company has a quick ratio of 1.07, a current ratio of 2.13 and a debt-to-equity ratio of 1.26. ATI Inc. has a 1-year low of $35.03 and a 1-year high of $68.92. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.42 and a beta of 1.04. The company has a fifty day moving average price of $63.49 and a 200 day moving average price of $59.73.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. ATI had a net margin of 8.74% and a return on equity of 23.05%. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the previous year, the company posted $0.59 earnings per share. ATI's revenue was up 5.2% compared to the same quarter last year. On average, analysts predict that ATI Inc. will post 2.47 earnings per share for the current year.

ATI declared that its board has approved a share repurchase program on Tuesday, September 3rd that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the basic materials company to repurchase up to 9.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the transaction, the chairman now owns 486,443 shares in the company, valued at $30,271,347.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.71% 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.