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

Allspring Global Investments Holdings LLC lessened its stake in shares of ATI Inc. (NYSE:ATI) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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’s holdings in ATI were 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 the stock. Frontier Capital Management Co. LLC boosted its position in ATI by 19.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock valued at $165,767,000 after acquiring an additional 594,644 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of ATI by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,317,722 shares of the basic materials company’s stock worth $105,394,000 after purchasing an additional 139,694 shares in the last quarter. Capital World Investors boosted its position in shares of ATI by 0.4% in the 4th quarter. Capital World Investors now owns 1,974,652 shares of the basic materials company’s stock worth $89,787,000 after purchasing an additional 7,716 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of ATI by 1,393.2% in the 4th quarter. Point72 Asset Management L.P. now owns 1,539,536 shares of the basic materials company’s stock worth $70,003,000 after purchasing an additional 1,436,436 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of ATI by 31.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,306,784 shares of the basic materials company’s stock worth $59,419,000 after purchasing an additional 315,506 shares in the last quarter.

ATI Price Performance

Shares of ATI stock traded up $0.37 on Tuesday, hitting $54.63. The company’s stock had a trading volume of 48,311 shares, compared to its average volume of 1,525,514. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.37 and a current ratio of 2.81. ATI Inc. has a 1 year low of $35.03 and a 1 year high of $62.44. The firm has a fifty day moving average price of $57.66 and a 200-day moving average price of $50.27. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 1.40 and a beta of 1.07.

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

Analysts Set New Price Targets

ATI has been the subject of a number of research analyst reports. KeyCorp raised their target price on ATI from $58.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. BTIG Research initiated coverage on ATI in a research note on Wednesday, June 26th. They issued a “buy” rating and a $70.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on ATI in a research note on Thursday, April 11th. They issued a “buy” rating and a $70.00 target price for the company. Northcoast Research lowered ATI from a “neutral” rating to a “sell” rating in a research note on Friday, June 14th. Finally, Barclays lifted their price objective on ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.83.

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.