Pier 88 Investment Partners LLC Raises Stock Holdings in ATI Inc. (NYSE:ATI)

Pier 88 Investment Partners LLC boosted its holdings in ATI Inc. (NYSE:ATI) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,620 shares of the basic materials company’s stock after purchasing an additional 220 shares during the period. Pier 88 Investment Partners LLC’s holdings in ATI were worth $419,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ATI. CIBC Asset Management Inc raised its holdings in shares of ATI by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company’s stock worth $215,000 after purchasing an additional 192 shares during the period. Hantz Financial Services Inc. raised its stake in shares of ATI by 2.1% in the fourth quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company’s stock valued at $643,000 after buying an additional 240 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of ATI by 20.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company’s stock valued at $95,000 after buying an additional 288 shares during the last quarter. Arizona State Retirement System grew its stake in shares of ATI by 0.8% during the 4th quarter. Arizona State Retirement System now owns 36,122 shares of the basic materials company’s stock worth $1,988,000 after acquiring an additional 289 shares during the period. Finally, Quarry LP increased its holdings in ATI by 86.4% in the 3rd quarter. Quarry LP now owns 889 shares of the basic materials company’s stock worth $59,000 after acquiring an additional 412 shares during the last quarter.

ATI Stock Down 3.3 %

ATI opened at $51.01 on Monday. The firm has a market capitalization of $7.25 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 0.85 and a beta of 1.14. ATI Inc. has a one year low of $47.90 and a one year high of $68.92. The company has a fifty day moving average price of $57.10 and a 200-day moving average price of $58.48. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Equities research analysts expect that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on ATI. Susquehanna upped their price objective on shares of ATI from $70.00 to $73.00 and gave the company a “positive” rating in a report on Wednesday, February 5th. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Benchmark boosted their target price on shares of ATI from $80.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Barclays raised their price target on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, ATI has a consensus rating of “Moderate Buy” and an average price target of $75.00.

Insider Activity at ATI

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the sale, the senior vice president now owns 25,994 shares in the company, valued at $1,726,261.54. This trade represents a 27.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.71% of the stock is currently owned by insiders.

ATI Company Profile

ATI Inc produces and sells specialty materials and complex components worldwide. It 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, metallic powder alloys, 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.