Boston Partners Lowers Holdings in Allegheny Technologies Incorporated (ATI)

Boston Partners lowered its position in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 44.4% in the first quarter, HoldingsChannel.com reports. The fund owned 434,492 shares of the basic materials company’s stock after selling 347,008 shares during the quarter. Boston Partners’ holdings in Allegheny Technologies were worth $11,110,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its stake in shares of Allegheny Technologies by 2,107.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,093,659 shares of the basic materials company’s stock valued at $50,000 after buying an additional 1,044,119 shares during the last quarter. Rothschild & Co. Asset Management US Inc. purchased a new position in shares of Allegheny Technologies during the 4th quarter valued at about $22,239,000. Norges Bank purchased a new position in shares of Allegheny Technologies during the 4th quarter valued at about $21,181,000. Dimensional Fund Advisors LP raised its stake in shares of Allegheny Technologies by 15.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,424,729 shares of the basic materials company’s stock valued at $96,329,000 after buying an additional 591,706 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Allegheny Technologies by 312.1% during the 4th quarter. Stifel Financial Corp now owns 554,828 shares of the basic materials company’s stock valued at $12,119,000 after buying an additional 420,182 shares during the last quarter.

Shares of Allegheny Technologies stock opened at $22.69 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 2.87 and a debt-to-equity ratio of 0.75. Allegheny Technologies Incorporated has a twelve month low of $20.84 and a twelve month high of $30.18. The stock has a market capitalization of $2.84 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 0.98 and a beta of 2.34.

Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $0.12 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. Allegheny Technologies had a return on equity of 8.79% and a net margin of 4.41%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $991.18 million. During the same quarter in the previous year, the business earned $0.32 EPS. Allegheny Technologies’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts forecast that Allegheny Technologies Incorporated will post 1.53 earnings per share for the current fiscal year.

In related news, insider Richard J. Harshman sold 7,140 shares of Allegheny Technologies stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $28.99, for a total value of $206,988.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 38,128 shares of company stock valued at $1,109,467. 1.06% of the stock is owned by company insiders.

A number of equities analysts have weighed in on ATI shares. ValuEngine lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Macquarie started coverage on Allegheny Technologies in a research note on Thursday, February 14th. They set an “outperform” rating and a $27.84 price objective for the company. Buckingham Research set a $45.00 price objective on Allegheny Technologies and gave the company a “buy” rating in a research note on Monday, April 8th. KeyCorp lifted their price objective on Allegheny Technologies from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Finally, Zacks Investment Research upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $31.91.

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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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Institutional Ownership by Quarter for Allegheny Technologies (NYSE:ATI)

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