ATI Inc. (NYSE:ATI) Chairman Sells $1,474,750.00 in Stock

ATI Inc. (NYSE:ATI - Get Free Report) Chairman Robert S. Wetherbee sold 25,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the transaction, the chairman now owns 436,443 shares of the company's stock, valued at approximately $25,745,772.57. This represents a 5.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

ATI Trading Down 1.6 %

Shares of ATI stock traded down $0.93 on Friday, reaching $57.55. The company had a trading volume of 1,216,945 shares, compared to its average volume of 1,439,870. The stock has a market cap of $8.21 billion, a PE ratio of 22.00, a PEG ratio of 2.06 and a beta of 1.09. The company has a 50-day moving average of $60.37 and a 200-day moving average of $60.55. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. ATI Inc. has a 12 month low of $38.04 and a 12 month high of $68.92.

ATI (NYSE:ATI - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.06). The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. ATI's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. On average, equities analysts forecast that ATI Inc. will post 2.27 earnings per share for the current year.

ATI declared that its Board of Directors has initiated a stock buyback plan on Tuesday, September 3rd that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the basic materials company to repurchase up to 9.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JPMorgan Chase & Co. raised 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. StockNews.com lowered shares of ATI from a "hold" rating to a "sell" rating in a report on Monday. Susquehanna cut their price objective on ATI from $75.00 to $70.00 and set a "positive" rating for the company in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Finally, KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $73.71.

Institutional Trading of ATI

Large investors have recently bought and sold shares of the business. Tidal Investments LLC boosted its holdings in ATI by 143.8% during the first quarter. Tidal Investments LLC now owns 11,312 shares of the basic materials company's stock worth $579,000 after purchasing an additional 6,673 shares during the last quarter. SG Americas Securities LLC lifted its stake in ATI by 202.7% during the second quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company's stock worth $1,522,000 after purchasing an additional 18,381 shares during the last quarter. Friedenthal Financial acquired a new stake in shares of ATI in the 2nd quarter valued at approximately $782,000. Wealth Enhancement Advisory Services LLC grew its position in ATI by 22.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,397 shares of the basic materials company's stock worth $798,000 after acquiring an additional 2,646 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in ATI by 17.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 528,615 shares of the basic materials company's stock worth $29,312,000 after acquiring an additional 79,285 shares during the last quarter.

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.

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