Allspring Global Investments Holdings LLC Sells 20,097 Shares of ATI Inc. (NYSE:ATI)

Allspring Global Investments Holdings LLC lessened its holdings in ATI Inc. (NYSE:ATI) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,515,262 shares of the basic materials company’s stock after selling 20,097 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.22% of ATI worth $77,536,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ATI. Mariner LLC boosted its stake in ATI by 3.4% during the 3rd quarter. Mariner LLC now owns 16,646 shares of the basic materials company’s stock worth $685,000 after acquiring an additional 541 shares during the last quarter. Natixis Advisors L.P. boosted its stake in ATI by 3.6% during the 3rd quarter. Natixis Advisors L.P. now owns 46,647 shares of the basic materials company’s stock worth $1,920,000 after acquiring an additional 1,600 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in ATI by 26.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 6,541 shares of the basic materials company’s stock worth $269,000 after acquiring an additional 1,368 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in ATI by 278.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,561 shares of the basic materials company’s stock worth $476,000 after buying an additional 8,508 shares during the period. Finally, Glenmede Trust Co. NA raised its holdings in ATI by 207.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 19,560 shares of the basic materials company’s stock worth $805,000 after buying an additional 13,191 shares during the period.

ATI Stock Up 0.7 %

Shares of NYSE:ATI traded up $0.37 during midday trading on Tuesday, hitting $54.63. The stock had a trading volume of 48,311 shares, compared to its average volume of 1,525,514. ATI Inc. has a 12 month low of $35.03 and a 12 month high of $62.44. The company has a quick ratio of 1.37, a current ratio of 2.81 and a debt-to-equity ratio of 1.56. The business’s 50-day simple moving average is $57.66 and its 200-day simple moving average is $50.27. The company has a market cap of $6.80 billion, a P/E ratio of 21.79, a PEG ratio of 1.40 and a beta of 1.07.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. ATI had a net margin of 8.70% and a return on equity of 23.72%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side analysts forecast that ATI Inc. will post 2.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on ATI. Northcoast Research downgraded shares of ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of ATI in a report on Thursday, April 11th. They set a “buy” rating and a $70.00 target price on the stock. Barclays lifted their price objective on shares of ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 6th. KeyCorp lifted their price objective on shares of ATI from $58.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Finally, BTIG Research began coverage on shares of ATI in a report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.83.

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.