Robert S. Wetherbee Sells 25,000 Shares of ATI Inc. (NYSE:ATI) Stock

ATI Inc. (NYSE:ATI) Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the completion of the sale, the chairman now owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. The transaction was disclosed in a filing with the SEC, which is available through this link.

ATI Stock Up 0.7 %

ATI opened at $62.30 on Thursday. The company has a 50 day moving average of $62.27 and a 200 day moving average of $57.38. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. ATI Inc. has a 12 month low of $35.03 and a 12 month high of $68.92. The company has a market cap of $7.75 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company earned $0.59 earnings per share. On average, sell-side analysts expect that ATI Inc. will post 2.48 EPS for the current year.

ATI announced that its Board of Directors has authorized a stock buyback 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 stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. KeyCorp boosted their price target on shares of ATI from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. BTIG Research assumed coverage on shares of ATI in a research report on Wednesday, June 26th. They set a “buy” rating and a $70.00 target price for the company. Susquehanna assumed coverage on shares of ATI in a report on Thursday, September 5th. They issued a “positive” rating and a $75.00 price target on the stock. Finally, Northcoast Research lowered ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.

Institutional Investors Weigh In On ATI

A number of institutional investors and hedge funds have recently modified their holdings of ATI. Capital International Investors lifted its stake in ATI by 1.3% in the 1st quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company’s stock worth $788,524,000 after purchasing an additional 203,012 shares in the last quarter. Vanguard Group Inc. grew its position in ATI by 0.9% during the first quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company’s stock worth $733,720,000 after buying an additional 132,478 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in ATI by 19.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock worth $165,767,000 after acquiring an additional 594,644 shares during the last quarter. Capital World Investors increased its stake in ATI by 43.9% in the 1st quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company’s stock worth $145,372,000 after acquiring an additional 866,310 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of ATI by 4.3% in the 2nd 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 in 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.