Royce & Associates LP trimmed its stake in Allegheny Technologies Incorporated (NYSE:ATI) by 5.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,498,672 shares of the basic materials company’s stock after selling 78,996 shares during the period. Royce & Associates LP owned 1.38% of Allegheny Technologies worth $35,818,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in Allegheny Technologies during the 3rd quarter worth $145,000. Creative Planning grew its stake in Allegheny Technologies by 2,619.9% during the 2nd quarter. Creative Planning now owns 7,534 shares of the basic materials company’s stock worth $128,000 after buying an additional 7,257 shares during the last quarter. Riverhead Capital Management LLC grew its stake in Allegheny Technologies by 72.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,297 shares of the basic materials company’s stock worth $141,000 after buying an additional 3,497 shares during the last quarter. Fernwood Investment Management LLC purchased a new position in Allegheny Technologies during the 3rd quarter worth $213,000. Finally, Crossmark Global Holdings Inc. purchased a new position in Allegheny Technologies during the 3rd quarter worth $213,000.
Shares of Allegheny Technologies Incorporated (NYSE:ATI) opened at $22.22 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.04 and a current ratio of 2.68. The firm has a market capitalization of $2,372.13, a PE ratio of 155.64 and a beta of 2.38. Allegheny Technologies Incorporated has a one year low of $14.54 and a one year high of $26.59.
Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, October 24th. The basic materials company reported ($0.07) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.07). The business had revenue of $869.10 million for the quarter, compared to the consensus estimate of $866.94 million. Allegheny Technologies had a positive return on equity of 1.09% and a negative net margin of 2.45%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.21) EPS. equities research analysts forecast that Allegheny Technologies Incorporated will post 0.32 earnings per share for the current year.
ATI has been the topic of several research analyst reports. Bank of America upgraded Allegheny Technologies from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $16.00 to $24.00 in a research note on Monday, September 11th. Longbow Research restated a “buy” rating and set a $24.00 target price on shares of Allegheny Technologies in a research note on Wednesday, August 23rd. KeyCorp restated a “hold” rating on shares of Allegheny Technologies in a research note on Thursday, November 16th. Berenberg Bank set a $17.00 target price on Allegheny Technologies and gave the stock a “hold” rating in a research note on Thursday, October 19th. Finally, Cowen restated a “hold” rating and set a $18.00 target price on shares of Allegheny Technologies in a research note on Thursday, October 12th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.57.
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About Allegheny Technologies
Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, castings, components and machined parts.
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