ATI Inc. (NYSE:ATI - Get Free Report) Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $83.93, for a total value of $4,196,500.00. Following the transaction, the chairman now owns 356,538 shares in the company, valued at $29,924,234.34. This trade represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
ATI Stock Down 0.6%
Shares of ATI traded down $0.48 during midday trading on Tuesday, hitting $84.68. 1,444,715 shares of the company's stock traded hands, compared to its average volume of 1,772,779. ATI Inc. has a 1 year low of $39.23 and a 1 year high of $88.94. The firm's fifty day moving average is $68.16 and its 200-day moving average is $60.13. The company has a current ratio of 2.53, a quick ratio of 1.30 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $11.95 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 1.19 and a beta of 1.14.
ATI (NYSE:ATI - Get Free Report) last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. ATI had a return on equity of 21.37% and a net margin of 8.93%. The firm's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS. As a group, sell-side analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current year.
Hedge Funds Weigh In On ATI
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Savant Capital LLC grew its position in ATI by 30.8% during the 4th quarter. Savant Capital LLC now owns 5,770 shares of the basic materials company's stock worth $318,000 after purchasing an additional 1,358 shares during the period. Van ECK Associates Corp grew its position in shares of ATI by 4.9% during the 4th quarter. Van ECK Associates Corp now owns 62,868 shares of the basic materials company's stock valued at $3,460,000 after acquiring an additional 2,926 shares during the period. Blue Trust Inc. grew its position in shares of ATI by 137.7% during the 4th quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company's stock valued at $144,000 after acquiring an additional 1,516 shares during the period. Rhumbline Advisers grew its position in shares of ATI by 5.9% during the 4th quarter. Rhumbline Advisers now owns 304,291 shares of the basic materials company's stock valued at $16,748,000 after acquiring an additional 16,975 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of ATI by 17.8% during the 4th quarter. Principal Financial Group Inc. now owns 690,215 shares of the basic materials company's stock valued at $37,989,000 after acquiring an additional 104,267 shares during the period.
Analyst Upgrades and Downgrades
ATI has been the topic of several research analyst reports. BTIG Research set a $105.00 price objective on ATI and gave the company a "buy" rating in a research report on Wednesday, May 28th. KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Benchmark reissued a "buy" rating and issued a $81.00 price objective on shares of ATI in a research note on Monday, April 21st. Finally, Citigroup upgraded ATI to a "positive" rating in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $78.29.
Read Our Latest Research Report on ATI
ATI Company Profile
(
Get Free Report)
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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