ATI Inc. (NYSE:ATI) Chairman Sells $1,555,750.00 in Stock

ATI Inc. (NYSE:ATI) Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value of $1,555,750.00. Following the completion of the transaction, the chairman now owns 486,443 shares in the company, valued at $30,271,347.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ATI Stock Down 0.4 %

NYSE ATI opened at $63.10 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. The stock’s 50 day moving average is $63.49 and its two-hundred day moving average is $59.60. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 1.41 and a beta of 1.04. ATI Inc. has a 1-year low of $35.03 and a 1-year high of $68.92.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 earnings per share. Equities analysts forecast that ATI Inc. will post 2.47 earnings per share for the current fiscal year.

ATI announced that its board has authorized a share repurchase plan on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 9.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On ATI

Institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors raised its stake in shares of ATI by 1.3% in the first quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company’s stock valued at $788,524,000 after acquiring an additional 203,012 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of ATI by 0.9% in the first quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company’s stock valued at $733,720,000 after acquiring an additional 132,478 shares during the last quarter. Capital World Investors raised its stake in shares of ATI by 43.9% in the first quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company’s stock valued at $145,372,000 after acquiring an additional 866,310 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ATI by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock valued at $139,003,000 after acquiring an additional 102,691 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of ATI by 165.1% in the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock valued at $107,846,000 after acquiring an additional 1,211,273 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ATI. BTIG Research assumed coverage on ATI in a research note on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their target price on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. KeyCorp lifted their target price on ATI from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Finally, Susquehanna assumed coverage on ATI in a research report on Thursday, September 5th. They set a “positive” rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, ATI presently has an average rating of “Moderate Buy” and an average price target of $74.43.

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.