Key Points
- ATI CEO Kimberly Fields sold 31,757 shares at an average price of $190.99, generating approximately $6.07 million. Her remaining direct ownership fell by 20.19% to 125,564 shares.
- ATI reported quarterly earnings per share of $1.00, exceeding the $0.88 consensus estimate, while revenue totaled $1.15 billion, slightly below expectations and up 0.6% year over year.
- Analyst sentiment remains broadly positive, with ATI carrying an average “Buy” rating and a consensus price target of $176.78, while institutional investors including Bank of Nova Scotia and Northwestern Mutual increased their holdings.
ATI Inc. (NYSE:ATI - Get Free Report) CEO Kimberly Fields sold 31,757 shares of ATI stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $190.99, for a total value 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 approximately $23,981,468.36. This represents a 20.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
ATI Stock Up 2.2%
Shares of ATI stock opened at $181.87 on Friday. ATI Inc. has a 12 month low of $70.42 and a 12 month high of $205.31. The firm has a market cap of $24.82 billion, a PE ratio of 60.22, a price-to-earnings-growth ratio of 1.42 and a beta of 0.96. The stock has a 50 day moving average of $187.83 and a 200-day moving average of $161.29. The company has a quick ratio of 1.17, a current ratio of 2.67 and a debt-to-equity ratio of 0.95.
ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.12. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.19 billion. ATI had a return on equity of 26.44% and a net margin of 9.26%.ATI's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 earnings per share. On average, equities analysts predict that ATI Inc. will post 4.49 EPS for the current year.
Analyst Ratings Changes
A number of analysts have weighed in on ATI shares. Wall Street Zen downgraded shares of ATI from a "buy" rating to a "hold" rating in a report on Tuesday. Susquehanna boosted their price objective on shares of ATI from $185.00 to $215.00 and gave the stock a "positive" rating in a report on Thursday, July 9th. Zacks Research raised shares of ATI from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $194.00 target price on shares of ATI in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their target price on ATI from $150.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $176.78.
Get Our Latest Research Report on ATI
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of ATI. Wealth Enhancement Advisory Services LLC boosted its position in shares of ATI by 53.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 25,648 shares of the basic materials company's stock valued at $3,103,000 after acquiring an additional 8,939 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in ATI by 456.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 129,617 shares of the basic materials company's stock worth $14,875,000 after purchasing an additional 106,343 shares in the last quarter. Bank of Nova Scotia raised its position in ATI by 92.9% in the first quarter. Bank of Nova Scotia now owns 467,149 shares of the basic materials company's stock worth $67,951,000 after purchasing an additional 224,949 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in ATI by 65.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 25,214 shares of the basic materials company's stock worth $2,894,000 after purchasing an additional 10,004 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in ATI during the first quarter worth about $4,599,000.
ATI Company Profile
(
Get Free Report)
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.
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