Robert S. Wetherbee Sells 25,000 Shares of ATI Inc. (NYSE:ATI) Stock

ATI Inc. (NYSE:ATI) Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the completion of the sale, the chairman now owns 436,443 shares of the company’s stock, valued at $25,745,772.57. This trade represents a 5.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

ATI Stock Performance

NYSE:ATI opened at $57.55 on Monday. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average price of $60.19 and a two-hundred day moving average price of $60.53. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. The company has a market capitalization of $8.21 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 2.07 and a beta of 1.09.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.06). ATI had a net margin of 8.85% and a return on equity of 21.39%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the business posted $0.55 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. As a group, research analysts expect that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

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

Institutional Investors Weigh In On ATI

Hedge funds have recently modified their holdings of the company. Quarry LP acquired a new stake in shares of ATI during the 2nd quarter worth about $26,000. UMB Bank n.a. boosted its stake in shares of ATI by 557.0% during the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 791 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of ATI during the 2nd quarter worth about $88,000. GAMMA Investing LLC boosted its stake in shares of ATI by 66.0% during the 3rd quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company’s stock worth $224,000 after purchasing an additional 1,330 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of ATI by 12.9% during the 3rd quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 385 shares during the last quarter.

Analyst Ratings Changes

ATI has been the subject of several recent analyst reports. 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 note on Wednesday, August 21st. Susquehanna cut their price target on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. StockNews.com downgraded shares of ATI from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. 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 report on Thursday, October 3rd. Finally, KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $73.71.

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.