Pier 88 Investment Partners LLC Purchases 220 Shares of ATI Inc. (NYSE:ATI)

Pier 88 Investment Partners LLC increased its position in shares of ATI Inc. (NYSE:ATI) by 3.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,620 shares of the basic materials company’s stock after acquiring an additional 220 shares during the period. Pier 88 Investment Partners LLC’s holdings in ATI were worth $419,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Schroder Investment Management Group boosted its stake in shares of ATI by 9.7% in the 4th quarter. Schroder Investment Management Group now owns 392,273 shares of the basic materials company’s stock valued at $21,524,000 after purchasing an additional 34,838 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in ATI by 11.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 19,240 shares of the basic materials company’s stock valued at $1,059,000 after buying an additional 1,941 shares during the period. New Age Alpha Advisors LLC bought a new stake in ATI during the fourth quarter valued at $463,000. Norges Bank acquired a new stake in ATI during the 4th quarter worth about $85,047,000. Finally, NEOS Investment Management LLC raised its position in shares of ATI by 22.9% in the 4th quarter. NEOS Investment Management LLC now owns 77,616 shares of the basic materials company’s stock worth $4,272,000 after acquiring an additional 14,454 shares in the last quarter.

ATI Stock Performance

Shares of ATI stock opened at $51.01 on Monday. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88. The firm has a fifty day simple moving average of $57.10 and a two-hundred day simple moving average of $58.48. ATI Inc. has a 12 month low of $47.90 and a 12 month high of $68.92. The firm has a market capitalization of $7.25 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 0.85 and a beta of 1.14.

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 net margin of 8.43% and a return on equity of 21.16%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts forecast that ATI Inc. will post 2.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, SVP Tina Killough Busch sold 9,900 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the completion of the sale, the senior vice president now owns 25,994 shares in the company, valued at approximately $1,726,261.54. This represents a 27.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.71% of the company’s stock.

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.