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 the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the transaction, the chairman now owns 436,443 shares in the company, valued at $25,745,772.57. This represents a 5.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

ATI Stock Performance

NYSE ATI opened at $57.55 on Friday. The stock has a market cap of $8.21 billion, a P/E ratio of 22.13, a PEG ratio of 2.07 and a beta of 1.09. The company’s 50-day simple moving average is $60.19 and its 200 day simple moving average is $60.53. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97.

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 analysts’ consensus estimates of $0.66 by ($0.06). The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 EPS. As a group, research analysts forecast that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

ATI announced that its board has authorized a share buyback 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 buy up to 9.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. StockNews.com lowered shares of ATI from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. Susquehanna decreased their price objective on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.71.

Institutional Trading of ATI

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in ATI in the second quarter valued at about $26,000. UMB Bank n.a. boosted its position in ATI by 557.0% in the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after buying an additional 791 shares in the last quarter. Quest Partners LLC acquired a new position in ATI in the second quarter valued at about $88,000. GAMMA Investing LLC boosted its position in ATI by 66.0% in the third quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company’s stock valued at $224,000 after buying an additional 1,330 shares in the last quarter. Finally, KBC Group NV boosted its position in ATI by 12.9% in the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock valued at $225,000 after buying an additional 385 shares in the last quarter.

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.