Robert S. Wetherbee Sells 50,000 Shares of ATI Inc. (NYSE:ATI) Stock

Key Points

• Robert S. Wetherbee, the chairman of ATI Inc., sold **50,000 shares** of the company stock for a total of **$3.73 million**, reducing his position by **14.02%**.
• ATI's stock is currently valued at **$74.69** with a **market capitalization** of **$10.29 billion** and a **P/E ratio** of **25.94**.
• Analysts have mixed outlooks on ATI, with price targets increasing to as high as **$120.00** while the average target price stands at **$93.29**.

ATI Inc. (NYSE:ATI - Get Free Report) Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $74.66, for a total transaction of $3,733,000.00. Following the transaction, the chairman directly owned 306,538 shares of the company's stock, valued at $22,886,127.08. The trade was a 14.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

ATI Trading Down 0.9%

ATI stock traded down $0.70 during mid-day trading on Friday, hitting $73.04. The company's stock had a trading volume of 1,725,627 shares, compared to its average volume of 2,237,898. ATI Inc. has a one year low of $39.23 and a one year high of $96.20. The stock has a market cap of $10.07 billion, a PE ratio of 25.36, a P/E/G ratio of 1.00 and a beta of 1.20. The company has a 50 day moving average of $85.51 and a 200-day moving average of $67.97. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.20 and a current ratio of 2.52.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. ATI had a net margin of 9.26% and a return on equity of 21.34%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.60 EPS. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. On average, research analysts anticipate that ATI Inc. will post 2.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ATI. BTIG Research set a $120.00 price target on ATI and gave the company a "buy" rating in a report on Monday, August 4th. Citigroup raised shares of ATI to a "positive" rating in a report on Tuesday, May 20th. Susquehanna dropped their price objective on shares of ATI from $105.00 to $100.00 and set a "positive" rating for the company in a research note on Friday, August 1st. Benchmark reiterated a "buy" rating and issued a $81.00 price target on shares of ATI in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. lifted their price target on ATI from $75.00 to $92.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $93.29.

Institutional Trading of ATI

Several institutional investors and hedge funds have recently made changes to their positions in ATI. Signaturefd LLC increased its position in ATI by 117.7% during the 2nd quarter. Signaturefd LLC now owns 381 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 206 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of ATI by 79.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 386 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 171 shares in the last quarter. WPG Advisers LLC bought a new position in ATI in the first quarter worth approximately $29,000. Golden State Wealth Management LLC raised its stake in ATI by 104.1% in the first quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock worth $31,000 after buying an additional 304 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in ATI by 139.9% in the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock worth $34,000 after buying an additional 386 shares in the last quarter.

About ATI

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.