Federated Hermes Inc. Boosts Stake in ATI Inc. (NYSE:ATI)

Federated Hermes Inc. raised its stake in shares of ATI Inc. (NYSE:ATI - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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. owned about 0.99% of ATI worth $57,245,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Guidance Capital Inc. increased its stake in shares of ATI by 11.4% in the 4th quarter. Guidance Capital Inc. now owns 7,064 shares of the basic materials company's stock worth $313,000 after purchasing an additional 721 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ATI by 41.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,589 shares of the basic materials company's stock worth $1,300,000 after purchasing an additional 8,345 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of ATI in the 4th quarter worth $2,901,000. Moody Aldrich Partners LLC increased its stake in shares of ATI by 34.7% in the 4th quarter. Moody Aldrich Partners LLC now owns 157,170 shares of the basic materials company's stock worth $7,147,000 after purchasing an additional 40,469 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of ATI by 1.5% in the 4th quarter. New York State Teachers Retirement System now owns 175,709 shares of the basic materials company's stock worth $7,989,000 after purchasing an additional 2,598 shares in the last quarter.

ATI Trading Down 1.1 %

Shares of NYSE:ATI traded down $0.54 during trading on Friday, reaching $50.56. The company's stock had a trading volume of 906,544 shares, compared to its average volume of 786,542. The company has a current ratio of 2.80, a quick ratio of 1.53 and a debt-to-equity ratio of 1.45. ATI Inc. has a 12 month low of $34.10 and a 12 month high of $52.98. The firm's 50 day simple moving average is $49.04 and its two-hundred day simple moving average is $44.29. The stock 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.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. ATI had a net margin of 8.81% and a return on equity of 24.64%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the company posted $0.53 EPS. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts predict that ATI Inc. will post 2.26 EPS for the current fiscal year.

Insider Transactions at ATI

In other news, VP Timothy J. Harris sold 6,325 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.44, for a total transaction of $268,433.00. Following the transaction, the vice president now directly owns 109,331 shares in the company, valued at $4,640,007.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on ATI. KeyCorp upped their price objective on ATI from $49.00 to $56.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 21st. TheStreet raised shares of ATI from a "c+" rating to a "b-" rating in a report on Friday, January 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of ATI in a report on Thursday, April 11th. They issued a "buy" rating and a $70.00 target price for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.67.

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.