ATI Inc. (NYSE:ATI) Shares Bought by Raymond James & Associates

Raymond James & Associates grew its position in shares of ATI Inc. (NYSE:ATI) by 159.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,358 shares of the basic materials company’s stock after purchasing an additional 73,308 shares during the period. Raymond James & Associates owned 0.10% of ATI worth $7,986,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ATI. Bleakley Financial Group LLC acquired a new stake in shares of ATI in the third quarter worth approximately $239,000. nVerses Capital LLC boosted its position in shares of ATI by 121.6% in the third quarter. nVerses Capital LLC now owns 8,200 shares of the basic materials company’s stock worth $549,000 after acquiring an additional 4,500 shares during the last quarter. Creative Planning boosted its position in shares of ATI by 12.9% in the third quarter. Creative Planning now owns 27,894 shares of the basic materials company’s stock worth $1,866,000 after acquiring an additional 3,179 shares during the last quarter. UMB Bank n.a. boosted its position in shares of ATI by 557.0% in the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 791 shares during the last quarter. Finally, Wedmont Private Capital acquired a new stake in shares of ATI in the third quarter worth approximately $234,000.

ATI Trading Down 4.6 %

ATI opened at $54.19 on Thursday. The firm has a market capitalization of $6.74 billion, a P/E ratio of 21.25, a P/E/G ratio of 1.38 and a beta of 1.04. The firm’s 50 day moving average is $63.02 and its 200-day moving average is $60.20. ATI Inc. has a 52-week low of $36.70 and a 52-week high of $68.92. The company has a quick ratio of 1.07, a current ratio of 2.13 and a debt-to-equity ratio of 1.26.

ATI (NYSE:ATI) last posted its quarterly earnings data 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). The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.12 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 EPS. Analysts expect that ATI Inc. will post 2.47 EPS for the current fiscal year.

ATI announced that its Board of Directors has initiated a share repurchase program on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ATI shares. JPMorgan Chase & Co. raised their target price on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Susquehanna decreased their target price on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday. Benchmark restated a “buy” rating and issued a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $73.71.

Insider Activity

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the sale, the chairman now owns 486,443 shares in the company, valued at $30,271,347.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.05% of the company’s stock.

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.