ATI Inc. (NYSE:ATI) Chairman Sells $4,196,500.00 in Stock

ATI Inc. (NYSE:ATI) Chairman Robert S. Wetherbee sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $83.93, for a total transaction of $4,196,500.00. Following the completion of the transaction, the chairman now owns 356,538 shares of the company’s stock, valued at approximately $29,924,234.34. The trade was a 12.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ATI Price Performance

Shares of ATI opened at $84.68 on Wednesday. The firm has a market cap of $11.95 billion, a PE ratio of 30.68, a P/E/G ratio of 1.19 and a beta of 1.14. The company has a current ratio of 2.53, a quick ratio of 1.30 and a debt-to-equity ratio of 0.86. The firm has a fifty day simple moving average of $68.16 and a two-hundred day simple moving average of $60.13. ATI Inc. has a 1-year low of $39.23 and a 1-year high of $86.40.

ATI (NYSE:ATI) last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. ATI had a net margin of 8.93% and a return on equity of 21.37%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. On average, equities analysts anticipate that ATI Inc. will post 2.89 EPS for the current year.

Analyst Ratings Changes

ATI has been the subject of a number of recent analyst reports. BTIG Research set a $105.00 price objective on shares of ATI and gave the stock a “buy” rating in a report on Wednesday, May 28th. Benchmark restated a “buy” rating and issued a $81.00 price objective on shares of ATI in a report on Monday, April 21st. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Tuesday, May 20th. Finally, Citigroup upgraded shares of ATI to a “positive” rating in a report on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.29.

Institutional Investors Weigh In On ATI

A number of hedge funds have recently added to or reduced their stakes in ATI. Capital World Investors raised its stake in ATI by 100.5% during the 4th quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company’s stock valued at $378,432,000 after buying an additional 3,446,919 shares during the last quarter. Dendur Capital LP increased its stake in shares of ATI by 601.7% in the 4th quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company’s stock worth $196,328,000 after purchasing an additional 3,058,628 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of ATI by 15.2% in the 4th quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company’s stock worth $844,061,000 after purchasing an additional 2,020,313 shares in the last quarter. Norges Bank purchased a new stake in shares of ATI in the 4th quarter worth $85,047,000. Finally, Forest Avenue Capital Management LP purchased a new stake in shares of ATI in the 1st quarter worth $44,867,000.

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.