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

ATI Inc. (NYSE:ATI) Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the completion of the transaction, the chairman now owns 506,538 shares in the company, valued at approximately $34,535,760.84. This trade represents a 8.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

ATI Trading Up 0.6 %

Shares of NYSE:ATI opened at $71.46 on Friday. The firm has a fifty day moving average of $52.71 and a two-hundred day moving average of $56.11. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. ATI Inc. has a 12-month low of $39.23 and a 12-month high of $72.33. The firm has a market capitalization of $10.08 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 0.85 and a beta of 1.01.

ATI (NYSE:ATI) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the firm earned $0.48 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts expect that ATI Inc. will post 2.89 EPS for the current fiscal year.

Hedge Funds Weigh In On ATI

Hedge funds have recently added to or reduced their stakes in the company. ORG Wealth Partners LLC bought a new stake in ATI in the fourth quarter worth approximately $25,000. Golden State Wealth Management LLC boosted its position in ATI by 104.1% during the first quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 304 shares during the period. Bessemer Group Inc. grew its holdings in ATI by 139.9% during the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 386 shares during the last quarter. Olde Wealth Management LLC bought a new position in shares of ATI in the first quarter valued at approximately $36,000. Finally, Headlands Technologies LLC acquired a new stake in shares of ATI in the first quarter worth $47,000.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. BTIG Research set a $90.00 price objective on shares of ATI and gave the company a “buy” rating in a research note on Monday. Benchmark reissued a “buy” rating and issued a $81.00 target price on shares of ATI in a research report on Monday, April 21st. KeyCorp upgraded shares of ATI from a “sector weight” rating to an “overweight” rating and set a $55.00 price target for the company in a research report on Wednesday, April 23rd. Finally, Susquehanna lifted their price objective on shares of ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $76.14.

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.