Raymond James Financial Services Advisors Inc. Purchases New Shares in ATI Inc. (NYSE:ATI)

Raymond James Financial Services Advisors Inc. bought a new position in ATI Inc. (NYSE:ATI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 37,346 shares of the basic materials company's stock, valued at approximately $1,698,000.

Other hedge funds also recently bought and sold shares of the company. Clearstead Advisors LLC boosted its holdings in ATI by 295.9% in the 3rd quarter. Clearstead Advisors LLC now owns 669 shares of the basic materials company's stock worth $28,000 after buying an additional 500 shares during the period. Belpointe Asset Management LLC lifted its stake in ATI by 65.3% in the 1st quarter. Belpointe Asset Management LLC now owns 843 shares of the basic materials company's stock worth $33,000 after purchasing an additional 333 shares in the last quarter. Covestor Ltd lifted its stake in ATI by 73.1% in the 3rd quarter. Covestor Ltd now owns 1,044 shares of the basic materials company's stock worth $43,000 after purchasing an additional 441 shares in the last quarter. Point72 Middle East FZE purchased a new stake in ATI in the 4th quarter worth $75,000. Finally, Harbour Investments Inc. purchased a new stake in ATI in the 4th quarter worth $127,000.

ATI Price Performance

Shares of NYSE ATI traded down $0.45 during mid-day trading on Friday, hitting $51.64. 809,829 shares of the company's stock traded hands, compared to its average volume of 1,322,019. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.80 and a quick ratio of 1.53. ATI Inc. has a 1 year low of $34.10 and a 1 year high of $52.50. The company has a market capitalization of $6.43 billion, a P/E ratio of 20.57 and a beta of 1.22. The company's 50-day moving average is $47.97 and its two-hundred day moving average is $43.94.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.64 earnings per share 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 company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the company posted $0.53 EPS. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts anticipate that ATI Inc. will post 2.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ATI has been the topic of several research analyst reports. TheStreet upgraded shares of ATI from a "c+" rating to a "b-" rating in a research note on Friday, January 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ATI in a research note on Thursday. They issued a "buy" rating and a $70.00 price target on the stock. Finally, KeyCorp boosted their price target 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, ATI currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.67.

Insider Buying and Selling

In related news, VP Timothy J. Harris sold 6,325 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.44, for a total value of $268,433.00. Following the sale, the vice president now directly owns 109,331 shares of the company's stock, valued at approximately $4,640,007.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is currently owned by corporate insiders.

About ATI

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.