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 dated 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

ATI Price Performance

Shares of ATI opened at $63.02 on Thursday. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. The stock’s 50 day moving average is $63.45 and its two-hundred day moving average is $59.49. ATI Inc. has a twelve month low of $35.03 and a twelve month high of $68.92. The firm has a market capitalization of $7.84 billion, a PE ratio of 24.71, a P/E/G ratio of 1.41 and a beta of 1.04.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS 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 business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the firm earned $0.59 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Research analysts anticipate that ATI Inc. will post 2.47 earnings per share for the current year.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on ATI. Susquehanna assumed coverage on ATI in a report on Thursday, September 5th. They issued a “positive” rating and a $75.00 price objective for the company. Benchmark reiterated a “buy” rating and set a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th. 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. JPMorgan Chase & Co. increased 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. Finally, KeyCorp boosted 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. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, ATI has an average rating of “Moderate Buy” and a consensus target price of $74.43.

Hedge Funds Weigh In On ATI

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC boosted its holdings in ATI by 165.1% during the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock worth $107,846,000 after buying an additional 1,211,273 shares in the last quarter. Capital World Investors boosted its stake in shares of 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. Senator Investment Group LP boosted its stake in shares of ATI by 167.6% during the 2nd quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company’s stock worth $49,414,000 after acquiring an additional 558,138 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of ATI in the 2nd quarter worth approximately $28,896,000. Finally, Goldman Sachs Group Inc. increased its stake in ATI by 31.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,306,784 shares of the basic materials company’s stock valued at $59,419,000 after purchasing an additional 315,506 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.