ATI Inc. (NYSE:ATI) Shares Bought by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC raised its holdings in ATI Inc. (NYSE:ATI) by 196.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 7,400 shares of the basic materials company’s stock after acquiring an additional 4,900 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in ATI were worth $410,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in shares of ATI by 0.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 84,050 shares of the basic materials company’s stock valued at $3,822,000 after purchasing an additional 216 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in ATI by 3.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock valued at $364,000 after purchasing an additional 224 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of ATI by 4.3% in the first quarter. First Trust Direct Indexing L.P. now owns 5,849 shares of the basic materials company’s stock worth $299,000 after buying an additional 239 shares during the last quarter. Nvwm LLC lifted its stake in shares of ATI by 2.1% during the first quarter. Nvwm LLC now owns 16,177 shares of the basic materials company’s stock worth $828,000 after buying an additional 334 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of ATI by 46.5% during the first quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock valued at $96,000 after buying an additional 593 shares during the last quarter.

ATI Stock Performance

ATI opened at $58.13 on Friday. The firm has a fifty day moving average price of $61.67 and a 200 day moving average price of $56.66. ATI Inc. has a 1 year low of $35.03 and a 1 year high of $68.92. The stock has a market cap of $7.23 billion, a P/E ratio of 23.35, a P/E/G ratio of 1.46 and a beta of 1.04. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07.

ATI (NYSE:ATI) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. ATI had a net margin of 8.74% and a return on equity of 23.05%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that ATI Inc. will post 2.48 earnings per share for the current year.

ATI announced that its board has approved a share buyback plan on Tuesday, September 3rd that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the basic materials company to repurchase up to 9.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ATI. Susquehanna began coverage on ATI in a report on Thursday. They issued a “positive” rating and a $75.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. BTIG Research began coverage on shares of ATI in a research note on Wednesday, June 26th. They set a “buy” rating and a $70.00 price objective for the company. Northcoast Research lowered shares of ATI from a “neutral” rating to a “sell” rating in a research note on Friday, June 14th. Finally, Benchmark restated a “buy” rating and set a $80.00 target price on shares of ATI in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, ATI has an average rating of “Moderate Buy” and a consensus target price of $74.00.

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.