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 dated Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the transaction, the chairman now owns 486,443 shares of the company’s stock, valued at $30,271,347.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

ATI Trading Up 0.8 %

Shares of ATI opened at $63.02 on Thursday. ATI Inc. has a fifty-two week low of $35.03 and a fifty-two week high of $68.92. The company has a market capitalization of $7.84 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The stock has a fifty day moving average of $63.45 and a two-hundred day moving average of $59.49. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.07 and a current ratio of 2.13.

ATI (NYSE:ATI) last released its 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 firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm posted $0.59 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts forecast that ATI Inc. will post 2.47 EPS for the current year.

ATI declared that its Board of Directors has authorized a stock 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 repurchase up to 9.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ATI. Quarry LP acquired a new position in ATI during the second quarter worth approximately $26,000. UMB Bank n.a. increased its holdings 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 buying an additional 791 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of ATI in the 1st quarter worth $51,000. EverSource Wealth Advisors LLC raised its position in shares of ATI by 294.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after buying an additional 1,010 shares during the period. Finally, Quest Partners LLC acquired a new position in ATI in the second quarter valued at $88,000.

Wall Street Analyst Weigh In

Several research firms have recently commented on ATI. BTIG Research began coverage on shares of ATI in a research report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their target price on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. raised their price target on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. KeyCorp upped their price objective on ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Finally, Benchmark reaffirmed a “buy” rating and set a $80.00 price objective on shares of ATI in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, ATI has a consensus rating of “Moderate Buy” and a consensus target price of $74.43.

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.