ATI Inc. (NYSE:ATI) Chairman Sells $1,540,250.00 in Stock

ATI Inc. (NYSE:ATI) Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the completion of the transaction, the chairman now directly owns 511,443 shares of the company’s stock, valued at $31,510,003.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ATI Stock Up 3.9 %

Shares of NYSE:ATI opened at $64.68 on Friday. The company has a 50-day moving average price of $62.36 and a 200 day moving average price of $57.41. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. ATI Inc. has a 12 month low of $35.03 and a 12 month high of $68.92. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 1.51 and a beta of 1.04.

ATI (NYSE:ATI) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. ATI had a return on equity of 23.05% and a net margin of 8.74%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company posted $0.59 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts predict that ATI Inc. will post 2.48 earnings per share for the current year.

ATI declared that its board has approved a stock buyback program on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of ATI

Large investors have recently modified their holdings of the company. Capital International Investors raised its position in ATI by 1.3% during the 1st quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company’s stock valued at $788,524,000 after purchasing an additional 203,012 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of ATI by 0.9% in the first quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company’s stock valued at $733,720,000 after acquiring an additional 132,478 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in ATI by 19.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock worth $165,767,000 after acquiring an additional 594,644 shares during the period. Capital World Investors grew its holdings in ATI by 43.9% during the 1st quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company’s stock worth $145,372,000 after acquiring an additional 866,310 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in ATI by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock valued at $139,003,000 after purchasing an additional 102,691 shares during the period.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. BTIG Research began coverage on ATI in a research report on Wednesday, June 26th. They set a “buy” rating and a $70.00 price objective on the stock. Susquehanna initiated coverage on ATI in a report on Thursday, September 5th. They issued a “positive” rating and a $75.00 target price on the stock. Benchmark reaffirmed a “buy” rating and set a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, KeyCorp upped their target price on shares of ATI from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.00.

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.