Symphony Financial Ltd. Co. reduced its position in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 43.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,517 shares of the basic materials company’s stock after selling 6,500 shares during the period. Symphony Financial Ltd. Co.’s holdings in Allegheny Technologies were worth $289,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ATI. Jeppson Wealth Management LLC bought a new position in shares of Allegheny Technologies during the third quarter valued at about $28,000. Private Advisor Group LLC bought a new position in shares of Allegheny Technologies during the second quarter valued at about $40,000. Public Employees Retirement System of Ohio lifted its position in shares of Allegheny Technologies by 33.5% during the second quarter. Public Employees Retirement System of Ohio now owns 8,515 shares of the basic materials company’s stock valued at $87,000 after purchasing an additional 2,137 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Allegheny Technologies during the third quarter valued at about $95,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of Allegheny Technologies during the second quarter valued at about $100,000. 92.91% of the stock is currently owned by institutional investors.
ATI has been the topic of several research reports. Benchmark raised shares of Allegheny Technologies from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Friday, December 4th. Zacks Investment Research raised shares of Allegheny Technologies from a “sell” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research report on Tuesday. Barclays raised shares of Allegheny Technologies from an “underweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock in a research report on Friday, December 4th. KeyCorp lifted their price objective on shares of Allegheny Technologies from $15.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, December 7th. Finally, ValuEngine raised shares of Allegheny Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, December 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $19.14.
ATI opened at $18.26 on Thursday. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -5.76 and a beta of 1.93. The company has a quick ratio of 1.86, a current ratio of 3.70 and a debt-to-equity ratio of 0.83. The firm has a 50-day moving average price of $16.55 and a 200-day moving average price of $11.41. Allegheny Technologies Incorporated has a twelve month low of $4.95 and a twelve month high of $20.78.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings data on Tuesday, November 3rd. The basic materials company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.22. The company had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $631.10 million. Allegheny Technologies had a negative net margin of 11.82% and a positive return on equity of 1.32%. Allegheny Technologies’s revenue for the quarter was down 41.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 earnings per share. On average, sell-side analysts expect that Allegheny Technologies Incorporated will post -0.54 earnings per share for the current fiscal year.
Allegheny Technologies Profile
Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates in two segments, High Performance Materials & Components and Advanced Alloys & Solutions. The company 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 to the aerospace and defense, medical, oil and gas, and electrical energy markets.
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