Allspring Global Investments Holdings LLC Has $86.26 Million Stake in ATI Inc. (NYSE:ATI)

Allspring Global Investments Holdings LLC lowered its holdings in shares of ATI Inc. (NYSE:ATI) by 1.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor 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’s holdings in ATI were worth $86,261,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Quarry LP acquired a new stake in ATI in the second quarter worth $26,000. UMB Bank n.a. raised its holdings in ATI by 557.0% during the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 791 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in shares of ATI in the first quarter valued at approximately $51,000. EverSource Wealth Advisors LLC grew its position in ATI by 294.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after buying an additional 1,010 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in ATI in the 2nd quarter worth approximately $88,000.

Wall Street Analyst Weigh In

ATI has been the subject of a number of recent research reports. Benchmark restated a “buy” rating and issued a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. KeyCorp upped their price target on shares of ATI from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Finally, BTIG Research initiated coverage on ATI in a research note on Wednesday, June 26th. They set a “buy” rating and a $70.00 target price on the stock. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.43.

ATI Trading Down 0.3 %

Shares of NYSE:ATI opened at $63.12 on Monday. The stock has a 50 day moving average of $63.49 and a 200 day moving average of $59.66. The company has a market cap of $7.86 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.42 and a beta of 1.04. ATI Inc. has a 12-month low of $35.03 and a 12-month high of $68.92. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. As a group, equities research analysts expect that ATI Inc. will post 2.47 EPS for the current year.

ATI declared that its board has initiated 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 reacquire up to 9.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chairman now directly owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.

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.