ATI (NYSE:ATI) Issues Earnings Results

ATI (NYSE:ATI) posted its quarterly earnings data on Tuesday. The basic materials company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04, FiscalAI reports. ATI had a net margin of 9.71% and a return on equity of 23.34%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion.

ATI Trading Up 0.9%

Shares of NYSE:ATI opened at $121.41 on Tuesday. The stock’s 50-day simple moving average is $114.14 and its two-hundred day simple moving average is $94.84. The stock has a market capitalization of $16.50 billion, a price-to-earnings ratio of 39.29, a PEG ratio of 1.16 and a beta of 1.02. ATI has a 52-week low of $39.23 and a 52-week high of $127.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.18 and a current ratio of 2.50.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ATI. Susquehanna reaffirmed a “positive” rating and set a $145.00 price objective on shares of ATI in a research report on Thursday, January 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of ATI in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their target price on shares of ATI from $118.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Deutsche Bank Aktiengesellschaft set a $98.00 price objective on shares of ATI in a report on Wednesday, October 8th. Finally, KeyCorp boosted their price target on ATI from $120.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $117.75.

Insider Transactions at ATI

In other news, Chairman Robert S. Wetherbee sold 60,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $98.34, for a total transaction of $5,900,400.00. Following the completion of the sale, the chairman owned 246,538 shares of the company’s stock, valued at $24,244,546.92. The trade was a 19.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $93.26, for a total value of $242,289.48. Following the completion of the transaction, the senior vice president directly owned 21,274 shares in the company, valued at approximately $1,984,013.24. This represents a 10.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 148,087 shares of company stock worth $15,131,989 in the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Trading of ATI

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its position in shares of ATI by 7.4% during the 3rd quarter. State Street Corp now owns 6,042,244 shares of the basic materials company’s stock valued at $491,476,000 after buying an additional 415,479 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in ATI by 11.7% during the second quarter. Raymond James Financial Inc. now owns 943,789 shares of the basic materials company’s stock valued at $81,487,000 after purchasing an additional 98,537 shares in the last quarter. Bank of America Corp DE increased its stake in shares of ATI by 17.8% in the third quarter. Bank of America Corp DE now owns 733,608 shares of the basic materials company’s stock worth $59,672,000 after purchasing an additional 111,112 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of ATI by 552.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 720,224 shares of the basic materials company’s stock valued at $62,184,000 after buying an additional 609,874 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of ATI by 49.4% in the first quarter. Goldman Sachs Group Inc. now owns 633,948 shares of the basic materials company’s stock valued at $32,984,000 after acquiring an additional 209,480 shares in the last quarter.

ATI Company Profile

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.