Schneider Downs Wealth Management Advisors LP decreased its holdings in Allegheny Technologies Incorporated (NYSE:ATI) by 65.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,101 shares of the basic materials company’s stock after selling 28,000 shares during the period. Schneider Downs Wealth Management Advisors LP’s holdings in Allegheny Technologies were worth $306,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of ATI. Vanguard Group Inc. lifted its stake in shares of 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 purchasing an additional 373,842 shares during the period. Iridian Asset Management LLC CT increased its position in Allegheny Technologies by 111.2% in the 2nd quarter. Iridian Asset Management LLC CT now owns 3,603,621 shares of the basic materials company’s stock valued at $90,811,000 after buying an additional 1,897,390 shares in the last quarter. Invesco Ltd. increased its position in Allegheny Technologies by 46.5% in the 2nd quarter. Invesco Ltd. now owns 3,504,894 shares of the basic materials company’s stock valued at $88,323,000 after buying an additional 1,111,943 shares in the last quarter. Northern Trust Corp increased its position in Allegheny Technologies by 34.4% in the 2nd quarter. Northern Trust Corp now owns 3,031,048 shares of the basic materials company’s stock valued at $76,382,000 after buying an additional 775,079 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in Allegheny Technologies by 9.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,681,502 shares of the basic materials company’s stock valued at $42,374,000 after buying an additional 149,650 shares in the last quarter.
A number of analysts recently commented on the company. Longbow Research lowered Allegheny Technologies from a “neutral” rating to an “underperform” rating and set a $18.00 target price for the company. in a research report on Tuesday, October 15th. Barclays reissued a “buy” rating and set a $31.00 price objective on shares of Allegheny Technologies in a report on Wednesday, July 31st. Buckingham Research decreased their price objective on Allegheny Technologies from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. ValuEngine raised Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, TheStreet lowered Allegheny Technologies from a “b-” rating to a “c+” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Allegheny Technologies has an average rating of “Hold” and an average target price of $27.25.
ATI traded down $0.20 during midday trading on Monday, reaching $23.50. 33,477 shares of the company were exchanged, compared to its average volume of 1,599,764. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 3.17. The company’s fifty day moving average price is $20.67 and its 200 day moving average price is $22.02. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.25 and a beta of 2.29. Allegheny Technologies Incorporated has a one year low of $17.03 and a one year high of $29.50.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.45. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Allegheny Technologies had a return on equity of 7.38% and a net margin of 5.85%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS. As a group, sell-side analysts anticipate that Allegheny Technologies Incorporated will post 1.22 earnings per share for the current fiscal year.
In other Allegheny Technologies news, insider Robert S. Wetherbee bought 5,000 shares of Allegheny Technologies stock in a transaction dated Tuesday, August 13th. The stock was bought 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 in the company, valued at approximately $2,080,830.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Elliot S. Davis bought 2,000 shares of Allegheny Technologies stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average cost of $17.53 per share, with a total value of $35,060.00. Following the completion of the acquisition, the senior vice president now owns 6,530 shares of the company’s stock, valued at $114,470.90. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 12,400 shares of company stock valued at $222,680. 1.06% of the stock is currently owned by corporate insiders.
Allegheny Technologies Company 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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