Pier 88 Investment Partners LLC Sells 6,903 Shares of ATI Inc. (NYSE:ATI)

Pier 88 Investment Partners LLC cut its stake in ATI Inc. (NYSE:ATI) by 15.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,320 shares of the basic materials company’s stock after selling 6,903 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in ATI were worth $1,742,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Evergreen Capital Management LLC raised its position in shares of ATI by 4.1% in the third quarter. Evergreen Capital Management LLC now owns 6,582 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 258 shares during the period. Covestor Ltd raised its position in shares of ATI by 73.1% in the third quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 441 shares during the period. Arizona State Retirement System raised its position in shares of ATI by 1.4% in the third quarter. Arizona State Retirement System now owns 36,601 shares of the basic materials company’s stock valued at $1,506,000 after purchasing an additional 496 shares during the period. Clearstead Advisors LLC grew its stake in shares of ATI by 295.9% in the third quarter. Clearstead Advisors LLC now owns 669 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 500 shares in the last quarter. Finally, Raymond James & Associates grew its stake in shares of ATI by 2.0% in the fourth quarter. Raymond James & Associates now owns 27,585 shares of the basic materials company’s stock valued at $1,254,000 after acquiring an additional 529 shares in the last quarter.

ATI Price Performance

ATI stock traded up $1.28 during trading hours on Friday, reaching $60.53. 1,190,687 shares of the stock were exchanged, compared to its average volume of 1,577,378. The company has a market cap of $7.53 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 1.56 and a beta of 1.17. The company has a current ratio of 2.81, a quick ratio of 1.37 and a debt-to-equity ratio of 1.56. ATI Inc. has a twelve month low of $34.10 and a twelve month high of $62.44. The stock has a 50 day moving average of $54.07 and a two-hundred day moving average of $47.62.

ATI (NYSE:ATI) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. ATI had a net margin of 8.70% and a return on equity of 23.72%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. Equities analysts expect that ATI Inc. will post 2.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on ATI. KeyCorp upped their price target on shares of ATI from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of ATI in a research note on Thursday, April 11th. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Barclays upped their price target on shares of ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.

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.