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

Pier 88 Investment Partners LLC boosted its holdings in ATI Inc. (NYSE:ATI - Free Report) by 59.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,182 shares of the basic materials company's stock after acquiring an additional 4,562 shares during the quarter. Pier 88 Investment Partners LLC's holdings in ATI were worth $634,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Golden State Wealth Management LLC increased its position in shares of ATI by 104.1% in the first quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock valued at $31,000 after buying an additional 304 shares in the last quarter. Bessemer Group Inc. increased its position in shares of ATI by 139.9% in the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock valued at $34,000 after buying an additional 386 shares in the last quarter. Olde Wealth Management LLC purchased a new position in shares of ATI in the first quarter valued at $36,000. Fifth Third Bancorp increased its position in shares of ATI by 115.7% in the first quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock valued at $58,000 after buying an additional 603 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of ATI by 418.1% in the first quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company's stock valued at $69,000 after buying an additional 1,062 shares in the last quarter.

ATI Trading Down 0.3%

Shares of NYSE ATI traded down $0.24 on Tuesday, reaching $92.59. 1,736,844 shares of the company traded hands, compared to its average volume of 1,754,355. ATI Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $94.14. The company has a 50 day moving average of $82.91 and a 200 day moving average of $65.05. The company has a current ratio of 2.53, a quick ratio of 1.30 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $13.06 billion, a PE ratio of 33.55, a P/E/G ratio of 1.24 and a beta of 1.13.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. ATI had a net margin of 8.93% and a return on equity of 21.37%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company posted $0.48 EPS. The company's quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts forecast that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the completion of the transaction, the chairman owned 506,538 shares of the company's stock, valued at $34,535,760.84. This represents a 8.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 195,359 shares of company stock worth $15,103,486. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Benchmark restated a "buy" rating and issued a $81.00 price target on shares of ATI in a research report on Monday, April 21st. Citigroup raised shares of ATI to a "positive" rating in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft set a $115.00 target price on shares of ATI and gave the company a "hold" rating in a research note on Tuesday, July 8th. KeyCorp downgraded shares of ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Finally, BTIG Research set a $105.00 target price on shares of ATI and gave the company a "buy" rating in a research note on Wednesday, May 28th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, ATI has a consensus rating of "Moderate Buy" and a consensus price target of $87.29.

ATI 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.