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 on 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 sale, 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 accessible through this hyperlink.

ATI Stock Performance

Shares of ATI stock opened at $62.30 on Thursday. 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 fifty-two week low of $35.03 and a fifty-two week high of $68.92. The company has a market capitalization of $7.75 billion, a P/E ratio of 25.02, a PEG ratio of 1.51 and a beta of 1.04. The stock has a 50 day moving average price of $62.27 and a two-hundred day moving average price of $57.38.

ATI (NYSE:ATI) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 EPS. Analysts expect that ATI Inc. will post 2.48 earnings per share for the current year.

ATI announced that its board has initiated a stock buyback program 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 purchase up to 9.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ATI. Quarry LP purchased a new stake in ATI in the 2nd quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. purchased a new stake in ATI in the first quarter worth $51,000. EverSource Wealth Advisors LLC boosted its holdings in ATI by 294.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 1,010 shares in the last quarter. Quest Partners LLC purchased a new position in ATI during the 2nd quarter valued at $88,000. Finally, GAMMA Investing LLC raised its holdings in ATI by 46.5% in the 1st quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock worth $96,000 after purchasing an additional 593 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

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.