ATI Inc. (NYSE:ATI) Stock Position Lifted by Raymond James & Associates

Raymond James & Associates boosted its stake in shares of ATI Inc. (NYSE:ATI) by 2.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,585 shares of the basic materials company’s stock after purchasing an additional 529 shares during the period. Raymond James & Associates’ holdings in ATI were worth $1,254,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in ATI by 3.8% in the third quarter. Vanguard Group Inc. now owns 14,354,401 shares of the basic materials company’s stock valued at $381,970,000 after acquiring an additional 527,117 shares during the last quarter. State Street Corp lifted its stake in ATI by 14.8% in the first quarter. State Street Corp now owns 9,941,032 shares of the basic materials company’s stock valued at $266,817,000 after acquiring an additional 1,279,827 shares during the last quarter. Geode Capital Management LLC lifted its stake in ATI by 4.5% in the first quarter. Geode Capital Management LLC now owns 2,357,077 shares of the basic materials company’s stock valued at $93,010,000 after acquiring an additional 101,022 shares during the last quarter. Palestra Capital Management LLC lifted its stake in ATI by 839.0% in the third quarter. Palestra Capital Management LLC now owns 2,190,728 shares of the basic materials company’s stock valued at $90,148,000 after acquiring an additional 1,957,416 shares during the last quarter. Finally, Norges Bank acquired a new stake in ATI in the fourth quarter valued at approximately $50,336,000.

Insider Buying and Selling

In related news, VP Timothy J. Harris sold 6,325 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.44, for a total transaction of $268,433.00. Following the transaction, the vice president now owns 109,331 shares of the company’s stock, valued at $4,640,007.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ATI. Deutsche Bank Aktiengesellschaft began coverage on shares of ATI in a research note on Thursday, April 11th. They issued a “buy” rating and a $70.00 target price for the company. KeyCorp boosted their price objective on shares of ATI from $49.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. Finally, TheStreet upgraded shares of ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.67.

ATI Trading Down 1.1 %

Shares of ATI stock opened at $50.56 on Friday. ATI Inc. has a 1 year low of $34.10 and a 1 year high of $52.98. The firm’s fifty day simple moving average is $49.04 and its 200 day simple moving average is $44.29. The firm has a market capitalization of $6.29 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22. The company has a current ratio of 2.80, a quick ratio of 1.53 and a debt-to-equity ratio of 1.45.

ATI (NYSE:ATI) last announced its earnings results on Thursday, February 1st. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. ATI had a net margin of 8.81% and a return on equity of 24.64%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. ATI’s revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts predict that ATI Inc. will post 2.26 EPS for the current 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.