ATI Inc. (NYSE:ATI) Shares Bought by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its holdings in ATI Inc. by 3.1% during Q1, now owning 443,023 shares valued at approximately $23 million.
• Multiple institutional investors have significantly boosted their stakes in ATI, with Capital International Investors increasing their ownership by 5.4% and Dendur Capital LP by 601.7% during the previous quarter.
• Analyst ratings for ATI show a consensus rating of "Moderate Buy" with an average price target of $87.29, indicating a positive sentiment towards the company's stock performance.

Federated Hermes Inc. lifted its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 3.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 443,023 shares of the basic materials company's stock after buying an additional 13,478 shares during the period. Federated Hermes Inc. owned approximately 0.31% of ATI worth $23,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Capital International Investors raised its holdings in shares of ATI by 5.4% during the fourth quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company's stock worth $875,190,000 after purchasing an additional 817,182 shares during the last quarter. Capital World Investors raised its holdings in shares of ATI by 100.5% during the fourth quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company's stock worth $378,432,000 after purchasing an additional 3,446,919 shares during the last quarter. Invesco Ltd. increased its holdings in ATI by 4.5% in the fourth quarter. Invesco Ltd. now owns 4,696,500 shares of the basic materials company's stock valued at $258,495,000 after buying an additional 203,742 shares in the last quarter. Dendur Capital LP increased its holdings in ATI by 601.7% in the fourth quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company's stock valued at $196,328,000 after buying an additional 3,058,628 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in ATI by 0.4% in the fourth quarter. Ameriprise Financial Inc. now owns 3,155,477 shares of the basic materials company's stock valued at $173,677,000 after buying an additional 12,528 shares in the last quarter.

Analysts Set New Price Targets

ATI has been the subject of a number of recent analyst reports. Citigroup raised shares of ATI to a "positive" rating in a report on Tuesday, May 20th. BTIG Research set a $105.00 price objective on shares of ATI and gave the company a "buy" rating in a report on Wednesday, May 28th. KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. lifted their price objective on shares of ATI from $75.00 to $92.00 and gave the company an "overweight" rating in a report on Friday. Finally, Benchmark reaffirmed a "buy" rating and issued a $81.00 price objective on shares of ATI in a report on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.00.

Insiders Place Their Bets

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the transaction, the chairman directly owned 506,538 shares in the company, valued at approximately $34,535,760.84. The trade was a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 195,359 shares of company stock worth $15,103,486 in the last quarter. Insiders own 1.10% of the company's stock.

ATI Price Performance

Shares of NYSE ATI traded down $0.30 during trading on Friday, hitting $76.64. The company had a trading volume of 3,712,953 shares, compared to its average volume of 1,815,700. The stock has a fifty day simple moving average of $85.97 and a two-hundred day simple moving average of $67.39. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $96.20. The firm has a market capitalization of $10.81 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 1.02 and a beta of 1.20. The company has a quick ratio of 1.30, a current ratio of 2.52 and a debt-to-equity ratio of 0.92.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. ATI had a net margin of 9.26% and a return on equity of 21.34%. ATI's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. On average, research analysts expect that ATI Inc. will post 2.89 earnings per share for the current year.

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.