Raymond James Financial Inc. Makes New Investment in ATI Inc. (NYSE:ATI)

Raymond James Financial Inc. purchased a new position in ATI Inc. (NYSE:ATI) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 802,228 shares of the basic materials company’s stock, valued at approximately $44,155,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ATI. Hantz Financial Services Inc. acquired a new stake in shares of ATI in the third quarter worth $765,000. Franklin Resources Inc. increased its stake in shares of ATI by 16.2% in the third 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 during the period. Advisors Asset Management Inc. increased its stake in shares of ATI by 16.9% in the third 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 during the period. Covea Finance increased its stake in shares of ATI by 32.7% in the fourth 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 during the period. Finally, Forest Avenue Capital Management LP acquired a new stake in shares of ATI in the third quarter worth $28,700,000.

Insider Activity

In other news, SVP Tina Killough Busch sold 9,900 shares of ATI stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the sale, the senior vice president now owns 25,994 shares in the company, valued at $1,726,261.54. This trade represents a 27.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ATI shares. Barclays increased their price objective 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. Benchmark increased their price objective 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. StockNews.com upgraded shares of ATI from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Susquehanna raised their price target on shares of ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, ATI currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

ATI Stock Up 1.9 %

ATI stock opened at $52.00 on Wednesday. The firm’s fifty day moving average is $58.10 and its 200 day moving average is $59.39. ATI Inc. has a one year low of $47.58 and a one year high of $68.92. The firm 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. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.32 and a current ratio of 2.44.

ATI (NYSE:ATI) last announced its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.19. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

ATI Company 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.