Tina Killough Busch, senior vice president and chief human resources officer at ATI Inc (NYSE: ATI), a specialty materials company with a market cap of $8.2 billion and “EXCELLENT” financial health according to InvestProrecently sold a significant portion of its stakes in the company. The transaction, which occurred on December 4, included the sale of 2,598 shares of common stock at a price of $60.015 per share, for a total of $155,918. Following this sale, Busch retains ownership of 21,553 ATI shares. The company maintains strong liquidity with a quick ratio of 2.94 and management is actively repurchasing shares. Learn more about ATI's insider trading patterns and financial metrics with InvestProwhich offers comprehensive analysis through its Pro Research reports.
In other recent news, Allegheny Technologies Incorporated (NYSE:) reported mixed third-quarter 2024 results, with adjusted EBITDA reaching approximately $186 million, up slightly from the previous quarter but below the expected range. Adjusted earnings per share were $0.60, missing forecasts of $0.63 to $0.69. This deficit was attributed to supply chain uncertainties and a work stoppage at Boeing (NYSE:), affecting customer demand and operational efficiency. However, the company recorded improved margins, particularly in the high-performance materials and components segment, and remains focused on growth and operational reliability.
Despite these challenges, ATI expects modest growth in the fourth quarter and has adjusted its full-year guidance. The company also repurchased $300 million of convertible notes and authorized a $700 million stock repurchase program. Looking ahead, ATI forecasts fourth-quarter adjusted EBITDA of between $181 million and $191 million, and full-year adjusted EBITDA guidance of between $700 million and $710 million.
These recent developments reflect the company's resilience in the face of industrial headwinds and its commitment to shareholder value. With a stable backlog and anticipated growth in the aerospace and defense sectors, ATI is positioned to meet current challenges and capitalize on future market opportunities.
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