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

ATI Inc. (NYSE:ATI) Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through this link.

ATI Price Performance

ATI stock traded up $0.47 during mid-day trading on Wednesday, reaching $63.02. 720,381 shares of the company traded hands, compared to its average volume of 1,426,122. The company has a fifty day moving average price of $63.37 and a 200-day moving average price of $59.47. The company has a market capitalization of $7.84 billion, a P/E ratio of 25.40, a P/E/G ratio of 1.42 and a beta of 1.04. ATI Inc. has a 52-week low of $35.03 and a 52-week high of $68.92. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 EPS. As a group, analysts anticipate that ATI Inc. will post 2.47 earnings per share for the current year.

ATI announced that its board has authorized a stock repurchase plan on Tuesday, September 3rd that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ATI. Benchmark reiterated a “buy” rating and set a $80.00 target price on shares of ATI in a research note on Wednesday, August 7th. Susquehanna initiated coverage on ATI in a research note on Thursday, September 5th. They issued a “positive” rating and a $75.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their target price on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. KeyCorp upped their price target on ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted their price objective on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.43.

Institutional Trading of ATI

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in ATI by 31.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,306,784 shares of the basic materials company’s stock worth $59,419,000 after acquiring an additional 315,506 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of ATI by 6.6% in the 4th quarter. Wellington Management Group LLP now owns 317,487 shares of the basic materials company’s stock worth $14,436,000 after purchasing an additional 19,669 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of ATI by 0.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 84,050 shares of the basic materials company’s stock worth $3,822,000 after purchasing an additional 216 shares in the last quarter. GAMMA Investing LLC increased its position in shares of ATI by 46.5% during the 1st quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock valued at $96,000 after purchasing an additional 593 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its holdings in shares of ATI by 44.0% during the 1st quarter. Hennessy Advisors Inc. now owns 111,200 shares of the basic materials company’s stock valued at $5,690,000 after buying an additional 34,000 shares in the last quarter.

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.