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 business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $61.61, for a total value 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 legal filing with the SEC, which is available through this link.

ATI Stock Performance

Shares of ATI stock opened at $61.83 on Wednesday. The stock’s 50-day moving average is $62.19 and its two-hundred day moving average is $57.29. 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 Inc. has a 1 year low of $35.03 and a 1 year high of $68.92. The firm has a market cap of $7.70 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.52 and a beta of 1.04.

ATI (NYSE:ATI) last released its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the business posted $0.59 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts predict that ATI Inc. will post 2.48 earnings per share for the current year.

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

Institutional Trading of ATI

A number of large investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of ATI during the second quarter worth about $26,000. Benjamin F. Edwards & Company Inc. acquired a new stake in ATI during the 1st quarter worth approximately $51,000. EverSource Wealth Advisors LLC grew its stake 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 valued at $69,000 after purchasing an additional 1,010 shares during the last quarter. Quest Partners LLC purchased a new position in shares of ATI in the 2nd quarter valued at approximately $88,000. Finally, GAMMA Investing LLC increased its holdings in shares of ATI by 46.5% in the first 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 period.

Analyst Ratings Changes

ATI has been the subject of a number of analyst reports. Susquehanna initiated coverage on ATI in a research report on Thursday, September 5th. They set a “positive” rating and a $75.00 price objective for the company. BTIG Research started coverage on shares of ATI in a research report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price objective on the stock. Northcoast Research cut shares of ATI from a “neutral” rating to a “sell” rating in a research report on Friday, June 14th. Benchmark reiterated a “buy” rating and set a $80.00 target price on shares of ATI in a research note on Wednesday, August 7th. Finally, KeyCorp raised their price target on ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average 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.