Vanguard Trims Passive Stake in ATI Inc. to 7.6%

TL;DR

**Vanguard cut its passive stake in ATI Inc. to 7.6% as of Dec 29, 2023.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, indicating a slight decrease in its passive ownership of ATI Inc. common stock. As of December 29, 2023, Vanguard now beneficially owns 10,249,706 shares, representing 7.6% of the company, down from a previously reported higher percentage. This matters to investors because Vanguard is a significant institutional holder, and changes in its stake, even passive ones, can signal shifts in broad market sentiment or index rebalancing for ATI Inc. (formerly Allegheny Technologies Inc.).

Why It Matters

This filing shows a minor reduction in a major institutional investor's stake, which could reflect portfolio rebalancing or a slight shift in passive investment strategy for ATI Inc. stock.

Risk Assessment

Risk Level: low — This is a passive ownership change by a large institutional investor, not an activist move, so it carries minimal direct risk to the company's operations or stock price.

Analyst Insight

Investors should note this as a routine update from a passive institutional investor. While a slight reduction, it's unlikely to signal a fundamental change in ATI Inc.'s prospects and is more likely due to index rebalancing or minor portfolio adjustments by Vanguard.

Key Numbers

• 10,249,706 — Shares Beneficially Owned (The total number of ATI Inc. common shares Vanguard holds as of December 29, 2023.)
• 7.6% — Percentage of Class (The percentage of ATI Inc.'s common stock that Vanguard beneficially owns, indicating a slight decrease from previous filings.)
• 01741R102 — CUSIP Number (The unique identification number for ATI Inc.'s Common Stock, confirming the security being reported.)

Key Players & Entities

• The Vanguard Group (company) — the reporting person and institutional investor
• ATI Inc. (company) — the subject company whose securities are being reported
• 10,249,706 (dollar_amount) — number of shares beneficially owned by Vanguard
• 7.6% (dollar_amount) — percentage of ATI Inc. common stock beneficially owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing
• February 13, 2024 (date) — date the SC 13G/A amendment was filed

Forward-Looking Statements

• Vanguard will maintain a significant, but passive, ownership stake in ATI Inc. (The Vanguard Group) — high confidence, target: Next 12 months

FAQ

Filing Documents

• tv0021-atiinc.htm (SC 13G/A) — 11KB
• 0001104659-24-020013.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: ATI Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 2021 McKinney Avenue Dallas, TX 75201

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 01741R102

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration