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 the business’s stock in a transaction on Wednesday, December 4th. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

ATI Stock Down 1.6 %

ATI stock opened at $57.54 on Friday. The firm has a market capitalization of $8.21 billion, a P/E ratio of 22.13, a P/E/G ratio of 2.07 and a beta of 1.09. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. The company has a 50-day simple moving average of $60.19 and a 200-day simple moving average of $60.53. ATI Inc. has a one year low of $38.04 and a one year high of $68.92.

ATI (NYSE:ATI) last announced its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm 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 firm earned $0.55 EPS. ATI’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities analysts expect that ATI Inc. will post 2.27 earnings per share for the current year.

ATI declared that its Board of Directors has authorized a stock buyback plan 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 plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Mountaineer Partners Management LLC boosted its stake in ATI by 4,401.2% during the third quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock valued at $629,683,000 after buying an additional 9,201,818 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of ATI by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock valued at $139,003,000 after purchasing an additional 102,691 shares during the period. Geode Capital Management LLC boosted its position in shares of ATI by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock valued at $130,709,000 after purchasing an additional 5,165 shares during the period. Millennium Management LLC boosted its position in shares of ATI by 165.1% in the 2nd quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock valued at $107,846,000 after purchasing an additional 1,211,273 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of ATI by 4.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company’s stock valued at $94,412,000 after purchasing an additional 70,812 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Susquehanna lowered their target price on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. StockNews.com lowered shares of ATI from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. boosted 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. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.