ATI (NYSE:ATI) Sets New 12-Month High at $35.61

ATI Inc. (NYSE:ATIGet Rating) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $35.61 and last traded at $35.21, with a volume of 5137 shares trading hands. The stock had previously closed at $34.79.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ATI. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research report on Monday, October 24th. KeyCorp increased their price target on shares of ATI from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, December 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $33.20.

ATI Price Performance

The company has a quick ratio of 1.40, a current ratio of 2.88 and a debt-to-equity ratio of 1.81. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 312.48 and a beta of 1.21. The company’s 50-day moving average is $30.67 and its 200-day moving average is $29.02.

ATI (NYSE:ATIGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The basic materials company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $936.80 million. ATI had a net margin of 0.67% and a return on equity of 28.25%. The company’s quarterly revenue was up 42.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. Equities research analysts expect that ATI Inc. will post 1.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ATI news, CEO Robert S. Wetherbee sold 15,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $30.23, for a total transaction of $453,450.00. Following the sale, the chief executive officer now directly owns 333,753 shares of the company’s stock, valued at $10,089,353.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Robert S. Wetherbee sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $30.23, for a total transaction of $453,450.00. Following the sale, the chief executive officer now directly owns 333,753 shares of the company’s stock, valued at $10,089,353.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Elliot S. Davis sold 28,572 shares of the stock in a transaction that occurred on Tuesday, December 6th. The shares were sold at an average price of $30.68, for a total transaction of $876,588.96. Following the sale, the insider now directly owns 160,350 shares in the company, valued at $4,919,538. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Institutional Trading of ATI

Hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC bought a new position in ATI in the first quarter valued at approximately $263,000. Natixis Advisors L.P. bought a new position in ATI in the first quarter valued at approximately $570,000. MetLife Investment Management LLC boosted its stake in ATI by 70.4% in the first quarter. MetLife Investment Management LLC now owns 68,697 shares of the basic materials company’s stock valued at $1,844,000 after acquiring an additional 28,376 shares during the last quarter. Rhumbline Advisers boosted its stake in ATI by 4.4% in the first quarter. Rhumbline Advisers now owns 347,984 shares of the basic materials company’s stock valued at $9,340,000 after acquiring an additional 14,825 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in ATI by 1.4% in the first quarter. Great West Life Assurance Co. Can now owns 110,936 shares of the basic materials company’s stock valued at $3,056,000 after acquiring an additional 1,480 shares during the last quarter.

ATI Company Profile

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ATI Inc manufactures and sells specialty materials and components worldwide. The company 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, 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.

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