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 stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the transaction, the chairman now directly owns 511,443 shares of the company’s stock, valued at $31,510,003.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

ATI Stock Performance

Shares of ATI opened at $61.83 on Wednesday. ATI Inc. has a 12-month low of $35.03 and a 12-month high of $68.92. The stock has a market cap of $7.70 billion, a P/E ratio of 24.83, a PEG ratio of 1.52 and a beta of 1.04. 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 company has a 50-day moving average of $62.19 and a two-hundred day moving average of $57.29.

ATI (NYSE:ATI) last issued its quarterly earnings data 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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. As a group, research analysts predict that ATI Inc. will post 2.48 EPS for the current fiscal year.

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

Institutional Trading of ATI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bornite Capital Management LP acquired a new stake in shares of ATI during the 4th quarter worth about $10,003,000. SG Americas Securities LLC boosted its position in ATI by 202.7% during the second quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company’s stock worth $1,522,000 after acquiring an additional 18,381 shares during the last quarter. Goldman Sachs Group Inc. grew 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 worth $59,419,000 after acquiring an additional 315,506 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in ATI in the 1st quarter valued at $763,000. Finally, First Hawaiian Bank purchased a new position in shares of ATI during the 2nd quarter worth $757,000.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ATI shares. Deutsche Bank Aktiengesellschaft boosted their target price on ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. KeyCorp increased their price objective on ATI from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. BTIG Research began coverage on shares of ATI in a research report on Wednesday, June 26th. They set a “buy” rating and a $70.00 target price on the stock. Susquehanna began coverage on shares of ATI in a report on Thursday, September 5th. They issued a “positive” rating and a $75.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, ATI presently has a consensus rating of “Moderate Buy” and an average price target of $74.00.

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.