DALLAS—Robert S. Wetherbee, Executive Chairman of ATI Inc (NYSE:ATI), a specialty materials company with an $8.2 billion market cap and "GREAT" financial health rating according to InvestingPro, sold 25,000 shares of the company's common stock on December 4, 2024. The stock has delivered impressive returns of nearly 47% over the past year. The shares were sold at a price of $58.99 each, amounting to a total transaction value of approximately $1.47 million.
Following this sale, Wetherbee holds 436,443 shares of ATI Inc. The transaction was conducted under a 10b5-1 Trading Plan, which was established on May 24, 2024, for personal tax and estate planning purposes.
In other recent news, Allegheny Technologies Incorporated (NYSE:ATI) reported mixed third-quarter results, with an adjusted EBITDA of approximately $186 million, slightly below the expected range. The company's adjusted earnings per share were $0.60, missing the forecasted range of $0.63 to $0.69. Despite operational challenges such as supply chain uncertainties and a work stoppage at Boeing (NYSE:BA), ATI experienced improved margins, particularly in the High-Performance Materials & Components segment.
The company has also redeemed $300 million in convertible notes and authorized a $700 million share repurchase program. For the fourth quarter, ATI projects adjusted EBITDA between $181 million and $191 million, with full-year adjusted EBITDA guidance set between $700 million and $710 million.
ATI expects a 15% to 20% increase in demand for next year, driven by Maintenance, Repair, and Overhaul (MRO) services. The company anticipates achieving over $5 billion in sales and exceeding $1 billion in adjusted EBITDA by 2027. These recent developments reflect ATI's focus on growth and operational reliability, despite the current industrial headwinds.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.