ATI Inc. (NYSE:ATI) SVP Sells $155,931.96 in Stock

ATI Inc. (NYSE:ATI) SVP Tina Killough Busch sold 2,598 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total transaction of $155,931.96. Following the sale, the senior vice president now owns 21,553 shares of the company’s stock, valued at $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

ATI Price Performance

Shares of ATI traded down $0.93 during mid-day trading on Friday, reaching $57.55. The company had a trading volume of 1,216,945 shares, compared to its average volume of 1,439,870. The company’s 50-day moving average is $60.37 and its 200-day moving average is $60.55. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. The company has a market capitalization of $8.21 billion, a P/E ratio of 22.00, a P/E/G ratio of 2.06 and a beta of 1.09. ATI Inc. has a twelve month low of $38.04 and a twelve month high of $68.92.

ATI (NYSE:ATI) last issued its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). ATI had a net margin of 8.85% and a return on equity of 21.39%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business posted $0.55 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that ATI Inc. will post 2.27 EPS for the current year.

ATI announced that its board has authorized a stock buyback program on Tuesday, September 3rd that permits the company to buyback $700.00 million in shares. This buyback authorization permits the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Institutional Trading of ATI

Several hedge funds have recently modified their holdings of ATI. Sequoia Financial Advisors LLC increased its holdings in ATI by 3.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock valued at $360,000 after purchasing an additional 172 shares in the last quarter. Beck Capital Management LLC grew its holdings in shares of ATI by 0.8% during the second quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock worth $1,898,000 after purchasing an additional 262 shares during the last quarter. KBC Group NV increased its stake in shares of ATI by 12.9% in the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock valued at $225,000 after buying an additional 385 shares in the last quarter. Souders Financial Advisors raised its holdings in shares of ATI by 6.1% in the third quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company’s stock valued at $477,000 after buying an additional 411 shares during the last quarter. Finally, Quarry LP lifted its position in ATI by 86.4% during the 3rd quarter. Quarry LP now owns 889 shares of the basic materials company’s stock worth $59,000 after buying an additional 412 shares in the last quarter.

Analyst Upgrades and Downgrades

ATI has been the subject of several research analyst reports. StockNews.com cut ATI from a “hold” rating to a “sell” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their price target on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. raised their price objective on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Finally, Susquehanna decreased their price target on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.71.

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.