Tina Killough Busch, Senior Vice President and Chief Human Resources Officer at ATI Inc (NYSE:ATI), a specialty materials company with an $8.2 billion market cap and “GREAT” financial health according to InvestingPro, recently sold a significant portion of her holdings in the company. The transaction, which took place on December 4, involved the sale of 2,598 shares of common stock at a price of $60.015 per share, totaling $155,918. Following this sale, Busch retains ownership of 21,553 shares in ATI. The company maintains strong liquidity with a current ratio of 2.94, and management has been actively buying back shares. Discover more insights about ATI’s insider trading patterns and financial metrics with InvestingPro, which offers comprehensive analysis through its Pro Research Reports.
In other recent news, Allegheny Technologies Incorporated (NYSE:) reported mixed third quarter results for 2024, with adjusted EBITDA reaching approximately $186 million, slightly up from the previous quarter but below the expected range. Adjusted earnings per share were $0.60, missing the forecasted $0.63 to $0.69. This shortfall was attributed to supply chain uncertainties and a work stoppage at Boeing (NYSE:), impacting customer demand and operational efficiency. However, the company saw improved margins, particularly in the High-Performance Materials & Components segment, and remains focused on growth and operational reliability.
Despite these challenges, ATI anticipates modest growth in Q4 and has adjusted its full-year guidance. The company also redeemed $300 million in convertible notes and authorized a $700 million share repurchase program. Looking forward, ATI projects Q4 adjusted EBITDA between $181 million and $191 million, and full-year adjusted EBITDA guidance set between $700 million and $710 million.
These recent developments reflect the company’s resilience amid industrial headwinds and its commitment to shareholder value. With a stable backlog and anticipated growth in aerospace and defense sectors, ATI is positioning itself to navigate through current challenges and capitalize on future market opportunities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
