ATI (NYSE:ATI) CEO Kimberly Fields Sells 31,757 Shares

ATI Inc. (NYSE:ATI) CEO Kimberly Fields sold 31,757 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $190.99, for a total transaction of $6,065,269.43. Following the completion of the transaction, the chief executive officer directly owned 125,564 shares in the company, valued at $23,981,468.36. This trade represents a 20.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

ATI Price Performance

Shares of NYSE:ATI opened at $181.87 on Friday. The firm has a market cap of $24.82 billion, a price-to-earnings ratio of 60.22, a P/E/G ratio of 1.42 and a beta of 0.96. ATI Inc. has a 1 year low of $70.42 and a 1 year high of $205.31. The company has a current ratio of 2.67, a quick ratio of 1.17 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $187.83 and a 200 day simple moving average of $161.29.

ATI (NYSE:ATI) last issued its earnings results on Thursday, April 30th. The basic materials company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.12. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.19 billion. ATI had a return on equity of 26.44% and a net margin of 9.26%.The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share. As a group, sell-side analysts predict that ATI Inc. will post 4.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ATI shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $194.00 price objective on shares of ATI in a research report on Friday, May 1st. Zacks Research upgraded shares of ATI from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 25th. Wall Street Zen downgraded shares of ATI from a “buy” rating to a “hold” rating in a report on Tuesday. KeyCorp lifted their price objective on shares of ATI from $175.00 to $211.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. Finally, BTIG Research upped their price objective on shares of ATI from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $176.78.

Hedge Funds Weigh In On ATI

Institutional investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. grew its stake in ATI by 18.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 36,829 shares of the basic materials company’s stock valued at $7,259,000 after buying an additional 5,617 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in ATI during the 2nd quarter worth $569,000. Assenagon Asset Management S.A. lifted its position in ATI by 12.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 657,117 shares of the basic materials company’s stock worth $129,518,000 after acquiring an additional 73,087 shares during the last quarter. 55 North Private Wealth LLC bought a new stake in ATI during the second quarter valued at about $236,000. Finally, Dynamic Advisor Solutions LLC bought a new stake in ATI during the second quarter valued at about $238,000.

About ATI

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.