Strategic Wealth Advisors Group LLC raised its position in Allegheny Technologies Incorporated (NYSE:ATI) by 30.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,447 shares of the basic materials company’s stock after acquiring an additional 4,500 shares during the quarter. Strategic Wealth Advisors Group LLC’s holdings in Allegheny Technologies were worth $394,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Allegheny Technologies by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 12,145,107 shares of the basic materials company’s stock valued at $306,056,000 after acquiring an additional 373,842 shares in the last quarter. Iridian Asset Management LLC CT grew its position in shares of Allegheny Technologies by 111.2% during the second quarter. Iridian Asset Management LLC CT now owns 3,603,621 shares of the basic materials company’s stock worth $90,811,000 after buying an additional 1,897,390 shares in the last quarter. Invesco Ltd. grew its position in shares of Allegheny Technologies by 46.5% during the second quarter. Invesco Ltd. now owns 3,504,894 shares of the basic materials company’s stock worth $88,323,000 after buying an additional 1,111,943 shares in the last quarter. Northern Trust Corp grew its position in shares of Allegheny Technologies by 34.4% during the second quarter. Northern Trust Corp now owns 3,031,048 shares of the basic materials company’s stock worth $76,382,000 after buying an additional 775,079 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Allegheny Technologies by 9.8% during the second quarter. Nuveen Asset Management LLC now owns 1,681,502 shares of the basic materials company’s stock worth $42,374,000 after buying an additional 149,650 shares in the last quarter.
Shares of Allegheny Technologies stock traded down $0.09 on Friday, reaching $23.70. 1,180,497 shares of the company were exchanged, compared to its average volume of 1,599,764. The stock’s 50 day moving average price is $20.67 and its 200-day moving average price is $22.02. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.17 and a quick ratio of 1.64. The company has a market cap of $2.98 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 1.25 and a beta of 2.29. Allegheny Technologies Incorporated has a 1-year low of $17.03 and a 1-year high of $29.50.
Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.45. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Allegheny Technologies had a return on equity of 7.38% and a net margin of 5.85%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 earnings per share. On average, research analysts predict that Allegheny Technologies Incorporated will post 1.22 earnings per share for the current fiscal year.
ATI has been the subject of a number of analyst reports. KeyCorp lowered their price objective on Allegheny Technologies from $33.00 to $28.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Buckingham Research lowered their price objective on Allegheny Technologies from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Cowen reissued a “buy” rating and set a $32.00 price objective on shares of Allegheny Technologies in a research report on Monday, August 12th. ValuEngine raised Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Goldman Sachs Group raised Allegheny Technologies from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Allegheny Technologies has an average rating of “Hold” and a consensus price target of $27.25.
In other Allegheny Technologies news, insider Robert S. Wetherbee purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $18.36 per share, with a total value of $91,800.00. Following the completion of the acquisition, the insider now directly owns 113,335 shares of the company’s stock, valued at approximately $2,080,830.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Timothy J. Harris purchased 2,900 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $17.80 per share, with a total value of $51,620.00. Following the completion of the acquisition, the vice president now directly owns 26,334 shares of the company’s stock, valued at $468,745.20. The disclosure for this purchase can be found here. Insiders purchased 12,400 shares of company stock valued at $222,680 over the last ninety days. 1.06% of the stock is currently owned by corporate insiders.
Allegheny Technologies Profile
Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts.
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