ATI Inc. (NYSE:ATI) SVP Tina Killough Busch Sells 2,598 Shares

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

ATI Trading Down 1.6 %

Shares of NYSE:ATI opened at $57.54 on Friday. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The company’s 50 day moving average is $60.19 and its two-hundred day moving average is $60.53. The company has a market cap of $8.21 billion, a PE ratio of 22.13, a P/E/G ratio of 2.07 and a beta of 1.09. ATI Inc. has a 52 week low of $38.04 and a 52 week high of $68.92.

ATI (NYSE:ATI) last issued its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). ATI had a return on equity of 21.39% and a net margin of 8.85%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts predict that ATI Inc. will post 2.27 earnings per share for the current fiscal year.

ATI announced that its Board of Directors has approved a stock buyback plan on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the basic materials company to reacquire up to 9.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ATI. JPMorgan Chase & Co. raised their target price on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com downgraded shares of ATI from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. Susquehanna decreased their target price on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.71.

Hedge Funds Weigh In On ATI

Hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC grew its holdings in shares of ATI by 3.3% during the third quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock worth $360,000 after buying an additional 172 shares in the last quarter. Beck Capital Management LLC boosted its position in shares of ATI by 0.8% in the second quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock worth $1,898,000 after acquiring an additional 262 shares during the last quarter. KBC Group NV lifted its position in ATI by 12.9% during 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 lifted its position in ATI by 6.1% during 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 in the last quarter. Finally, Quarry LP lifted its position in ATI by 86.4% during the third quarter. Quarry LP now owns 889 shares of the basic materials company’s stock valued at $59,000 after buying an additional 412 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.