ATI (NYSE:ATI) CEO Sells 31,757 Shares

ATI Inc. (NYSE:ATI) CEO Kimberly Fields sold 31,757 shares of ATI stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $190.99, for a total transaction of $6,065,269.43. Following the completion of the transaction, the chief executive officer directly owned 125,564 shares in the company, valued at approximately $23,981,468.36. The trade was a 20.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ATI Stock Up 2.2%

NYSE:ATI traded up $3.95 during midday trading on Thursday, reaching $181.87. 1,689,301 shares of the stock traded hands, compared to its average volume of 1,885,865. ATI Inc. has a 12-month low of $70.42 and a 12-month high of $205.31. The business has a 50-day moving average of $187.40 and a two-hundred day moving average of $160.87. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.17 and a current ratio of 2.67. The stock has a market capitalization of $24.82 billion, a PE ratio of 60.22, a price-to-earnings-growth ratio of 1.49 and a beta of 0.96.

ATI (NYSE:ATI) last announced its earnings results on Thursday, April 30th. The basic materials company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.12. ATI had a net margin of 9.26% and a return on equity of 26.44%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm earned $0.72 earnings per share. ATI’s revenue was up .6% compared to the same quarter last year. On average, equities analysts forecast that ATI Inc. will post 4.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ATI

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp raised its position in ATI by 7.4% during the 3rd quarter. State Street Corp now owns 6,042,244 shares of the basic materials company’s stock worth $491,476,000 after buying an additional 415,479 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of ATI by 12.0% in the 4th quarter. Capital Research Global Investors now owns 3,611,724 shares of the basic materials company’s stock valued at $414,481,000 after acquiring an additional 386,754 shares during the last quarter. Invesco Ltd. increased its stake in shares of ATI by 7.4% in the fourth quarter. Invesco Ltd. now owns 3,384,924 shares of the basic materials company’s stock worth $388,454,000 after acquiring an additional 233,010 shares during the period. Norges Bank acquired a new stake in shares of ATI in the fourth quarter worth $198,787,000. Finally, Bank of America Corp DE raised its holdings in shares of ATI by 70.8% during the first quarter. Bank of America Corp DE now owns 1,364,941 shares of the basic materials company’s stock worth $198,544,000 after purchasing an additional 565,867 shares during the last quarter.

Analyst Ratings Changes

ATI has been the subject of a number of recent analyst reports. BTIG Research raised their price objective on ATI from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $194.00 target price on shares of ATI in a research report on Friday, May 1st. TD Cowen raised their price target on ATI from $170.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 13th. KeyCorp boosted their price target on ATI from $175.00 to $211.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings upgraded shares of ATI from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $176.78.

About ATI

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.