Raymond James & Associates Boosts Holdings in ATI Inc. (NYSE:ATI)

Raymond James & Associates increased its stake in ATI Inc. (NYSE:ATI - Free Report) by 159.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,358 shares of the basic materials company's stock after purchasing an additional 73,308 shares during the quarter. Raymond James & Associates owned approximately 0.10% of ATI worth $7,986,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in ATI. First Trust Direct Indexing L.P. increased its position in ATI by 4.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 5,849 shares of the basic materials company's stock worth $299,000 after purchasing an additional 239 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in ATI by 3.0% in the first quarter. Commonwealth Equity Services LLC now owns 23,092 shares of the basic materials company's stock valued at $1,182,000 after acquiring an additional 663 shares during the period. Janney Montgomery Scott LLC grew its stake in ATI by 68.3% during the first quarter. Janney Montgomery Scott LLC now owns 27,473 shares of the basic materials company's stock worth $1,406,000 after buying an additional 11,149 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in ATI by 0.6% during the first quarter. Mutual of America Capital Management LLC now owns 136,089 shares of the basic materials company's stock worth $6,964,000 after buying an additional 745 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in shares of ATI during the first quarter valued at approximately $452,000.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total value of $1,555,750.00. Following the completion of the sale, the chairman now owns 486,443 shares in the company, valued at $30,271,347.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.05% of the company's stock.

ATI Stock Performance

Shares of ATI traded down $1.51 during midday trading on Thursday, reaching $52.70. The stock had a trading volume of 2,539,621 shares, compared to its average volume of 1,447,517. The firm has a 50 day simple moving average of $63.02 and a 200-day simple moving average of $60.20. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. The firm has a market cap of $6.56 billion, a PE ratio of 20.67, a P/E/G ratio of 1.38 and a beta of 1.04. ATI Inc. has a one year low of $36.70 and a one year high of $68.92.

ATI (NYSE:ATI - Get Free Report) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.06). ATI had a return on equity of 23.05% and a net margin of 8.74%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business posted $0.55 EPS. The business's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that ATI Inc. will post 2.47 EPS for the current year.

ATI announced that its Board of Directors has authorized a share buyback program on Tuesday, September 3rd that permits the company to buyback $700.00 million in 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 generally an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on ATI. Deutsche Bank Aktiengesellschaft increased their price target on shares of ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. increased their target price on shares of ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. KeyCorp downgraded shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Thursday, October 24th. Benchmark reissued a "buy" rating and set a $80.00 price objective on shares of ATI in a research report on Wednesday, August 7th. Finally, Susquehanna decreased their target price on shares of ATI from $75.00 to $70.00 and set a "positive" rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $73.71.

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.