Profund Advisors LLC increased its stake in Allegheny Technologies Incorporated (NYSE:ATI) by 44.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,113 shares of the basic materials company’s stock after purchasing an additional 8,406 shares during the quarter. Profund Advisors LLC’s holdings in Allegheny Technologies were worth $655,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Advisory Services Network LLC raised its holdings in Allegheny Technologies by 19,684.8% during the fourth quarter. Advisory Services Network LLC now owns 6,529 shares of the basic materials company’s stock valued at $158,000 after acquiring an additional 6,496 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Allegheny Technologies during the third quarter valued at about $181,000. Global X Management Co. LLC raised its holdings in Allegheny Technologies by 75.3% during the fourth quarter. Global X Management Co. LLC now owns 7,579 shares of the basic materials company’s stock valued at $183,000 after acquiring an additional 3,255 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Allegheny Technologies by 42.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the basic materials company’s stock valued at $184,000 after acquiring an additional 2,269 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new stake in Allegheny Technologies during the third quarter valued at about $213,000.
Several brokerages have recently issued reports on ATI. Cowen reaffirmed a “buy” rating and issued a $32.00 target price on shares of Allegheny Technologies in a report on Tuesday, January 23rd. JPMorgan Chase & Co. lifted their target price on Allegheny Technologies from $18.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Bank of America reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Allegheny Technologies in a report on Wednesday, January 24th. They noted that the move was a valuation call. KeyCorp raised Allegheny Technologies from a “sector weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a report on Thursday, March 1st. They noted that the move was a valuation call. Finally, Buckingham Research lifted their target price on Allegheny Technologies from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Allegheny Technologies currently has a consensus rating of “Hold” and a consensus price target of $27.63.
Allegheny Technologies Incorporated (NYSE:ATI) opened at $27.08 on Friday. The company has a market capitalization of $3,402.90, a PE ratio of 60.18 and a beta of 2.37. Allegheny Technologies Incorporated has a 12-month low of $14.54 and a 12-month high of $30.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.69 and a quick ratio of 1.04.
Allegheny Technologies (NYSE:ATI) last released its quarterly earnings results on Tuesday, January 23rd. The basic materials company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.12. The company had revenue of $909.90 million during the quarter, compared to analyst estimates of $898.22 million. Allegheny Technologies had a positive return on equity of 3.47% and a negative net margin of 2.61%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) earnings per share. analysts expect that Allegheny Technologies Incorporated will post 1.26 EPS for the current year.
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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