ATI Inc. (NYSE:ATI) Chairman Robert S. Wetherbee Sells 50,000 Shares

ATI Inc. (NYSE:ATI) Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $81.64, for a total transaction of $4,082,000.00. Following the transaction, the chairman now directly owns 406,538 shares of the company’s stock, valued at $33,189,762.32. This represents a 10.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

ATI Price Performance

ATI stock opened at $84.04 on Friday. The firm has a market capitalization of $11.86 billion, a P/E ratio of 32.96, a PEG ratio of 0.85 and a beta of 1.13. ATI Inc. has a one year low of $39.23 and a one year high of $84.28. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. The business has a fifty day moving average price of $62.78 and a 200-day moving average price of $58.93.

ATI (NYSE:ATI) last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. As a group, equities research analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ATI shares. BTIG Research set a $105.00 price objective on ATI and gave the company a “buy” rating in a research note on Wednesday, May 28th. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, May 20th. Citigroup upgraded ATI to a “positive” rating in a research note on Tuesday, May 20th. Barclays lifted their price objective on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Benchmark reaffirmed a “buy” rating and set a $81.00 price objective on shares of ATI in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.29.

Hedge Funds Weigh In On ATI

A number of large investors have recently modified their holdings of the company. WPG Advisers LLC purchased a new stake in ATI in the 1st quarter worth approximately $29,000. Golden State Wealth Management LLC increased its holdings in shares of ATI by 104.1% in the first quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 304 shares during the period. Bessemer Group Inc. increased its holdings in shares of ATI by 139.9% in the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 386 shares during the period. Olde Wealth Management LLC purchased a new stake in shares of ATI in the first quarter worth $36,000. Finally, Headlands Technologies LLC bought a new stake in ATI during the first quarter valued at $47,000.

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.