Raymond James Financial Inc. Purchases New Holdings in ATI Inc. (NYSE:ATI)

Raymond James Financial Inc. purchased a new stake in shares of ATI Inc. (NYSE:ATI) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 802,228 shares of the basic materials company’s stock, valued at approximately $44,155,000. Raymond James Financial Inc. owned about 0.56% of ATI at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new position in ATI during the 3rd quarter valued at about $765,000. Franklin Resources Inc. grew its stake in ATI by 16.2% in the 3rd quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock worth $27,993,000 after acquiring an additional 61,999 shares in the last quarter. Advisors Asset Management Inc. grew its stake in ATI by 16.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 77,022 shares of the basic materials company’s stock worth $5,154,000 after acquiring an additional 11,154 shares in the last quarter. Covea Finance grew its stake in ATI by 32.7% in the 4th quarter. Covea Finance now owns 65,000 shares of the basic materials company’s stock worth $3,578,000 after acquiring an additional 16,000 shares in the last quarter. Finally, Forest Avenue Capital Management LP bought a new position in ATI in the 3rd quarter worth about $28,700,000.

Analyst Upgrades and Downgrades

ATI has been the topic of a number of research analyst reports. Benchmark upped their target price on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Barclays upped their target price on shares of ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Susquehanna upped their target price on shares of ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. Finally, StockNews.com upgraded shares of ATI from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, ATI currently has an average rating of “Moderate Buy” and an average target price of $75.00.

Insider Activity at ATI

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the completion of the transaction, the senior vice president now owns 25,994 shares of the company’s stock, valued at approximately $1,726,261.54. This trade represents a 27.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.71% of the stock is currently owned by corporate insiders.

ATI Price Performance

NYSE ATI opened at $52.00 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.32 and a current ratio of 2.44. The firm’s 50 day moving average price is $58.10 and its 200-day moving average price is $59.39. ATI Inc. has a 52-week low of $47.58 and a 52-week high of $68.92. The company has a market cap of $7.39 billion, a PE ratio of 20.39, a P/E/G ratio of 0.85 and a beta of 1.14.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. ATI had a net margin of 8.43% and a return on equity of 21.16%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm earned $0.64 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts forecast that ATI Inc. will post 2.89 EPS for the current fiscal year.

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.