Insider Selling: ATI Inc. (NYSE:ATI) Director Sells 7,900 Shares of Stock

Key Points

• David J. Morehouse, a director at ATI Inc., sold 7,900 shares at an average price of $75.81, resulting in a total transaction of approximately $598,899, decreasing his position by 15%.
• ATI reported $0.74 earnings per share for the last quarter, exceeding estimates and showing a year-over-year revenue increase of 4.1%.
• Analysts have a consensus rating of "Moderate Buy" for ATI, with price targets ranging from $81.00 to $115.00, indicating optimism about the company’s future performance.

ATI Inc. (NYSE:ATI - Get Free Report) Director David J. Morehouse sold 7,900 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $75.81, for a total transaction of $598,899.00. Following the sale, the director owned 44,777 shares of the company's stock, valued at approximately $3,394,544.37. This represents a 15.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

ATI Price Performance

Shares of ATI traded up $0.22 during trading hours on Wednesday, reaching $74.69. The company had a trading volume of 2,390,050 shares, compared to its average volume of 2,170,893. The firm has a 50 day simple moving average of $85.87 and a 200-day simple moving average of $67.64. The company has a current ratio of 2.52, a quick ratio of 1.20 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $10.29 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 1.02 and a beta of 1.20. ATI Inc. has a 12-month low of $39.23 and a 12-month high of $96.20.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ATI shares. JPMorgan Chase & Co. increased their price target on shares of ATI from $75.00 to $92.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Susquehanna reduced their target price 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 restated a "buy" rating and issued a $81.00 target price on shares of ATI in a research note on Monday, April 21st. Deutsche Bank Aktiengesellschaft set a $115.00 target price on shares of ATI and gave the stock a "hold" rating in a research note on Tuesday, July 8th. Finally, Barclays increased their price target on shares of ATI from $75.00 to $90.00 and gave the company an "overweight" rating in a report on Monday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, ATI currently has a consensus rating of "Moderate Buy" and an average price target of $93.29.

Hedge Funds Weigh In On ATI

Several hedge funds have recently added to or reduced their stakes in ATI. Geode Capital Management LLC increased its holdings in ATI by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 2,150,204 shares of the basic materials company's stock valued at $118,389,000 after acquiring an additional 197,270 shares in the last quarter. Invesco Ltd. grew its holdings in shares of ATI by 4.5% during the fourth quarter. Invesco Ltd. now owns 4,696,500 shares of the basic materials company's stock worth $258,495,000 after buying an additional 203,742 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of ATI by 4.4% during the fourth quarter. Legal & General Group Plc now owns 401,083 shares of the basic materials company's stock worth $22,076,000 after buying an additional 16,830 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of ATI by 102.1% during the fourth quarter. Renaissance Technologies LLC now owns 178,192 shares of the basic materials company's stock worth $9,808,000 after buying an additional 90,000 shares in the last quarter. Finally, Advisory Services Network LLC grew its holdings in shares of ATI by 2.3% during the fourth quarter. Advisory Services Network LLC now owns 23,559 shares of the basic materials company's stock worth $1,297,000 after buying an additional 533 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.

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