Tower Research Capital LLC TRC raised its holdings in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 144.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,989 shares of the basic materials company’s stock after acquiring an additional 11,799 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Allegheny Technologies were worth $591,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. MAI Capital Management purchased a new position in Allegheny Technologies during the 2nd quarter valued at about $207,000. Commonwealth Equity Services LLC purchased a new position in Allegheny Technologies during the 2nd quarter valued at about $219,000. First Hawaiian Bank purchased a new position in Allegheny Technologies during the 3rd quarter valued at about $225,000. IndexIQ Advisors LLC increased its holdings in Allegheny Technologies by 57.4% during the 2nd quarter. IndexIQ Advisors LLC now owns 9,311 shares of the basic materials company’s stock valued at $234,000 after acquiring an additional 3,397 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Allegheny Technologies during the 2nd quarter valued at about $238,000.
Several equities analysts have weighed in on the stock. Cowen restated a “buy” rating and set a $35.00 target price on shares of Allegheny Technologies in a report on Thursday, November 8th. Berenberg Bank assumed coverage on shares of Allegheny Technologies in a report on Thursday. They set a “buy” rating and a $35.00 target price for the company. JPMorgan Chase & Co. upgraded shares of Allegheny Technologies from an “underweight” rating to a “neutral” rating and set a $28.00 target price for the company in a report on Wednesday, October 24th. ValuEngine downgraded shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. Finally, Zacks Investment Research downgraded shares of Allegheny Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $33.70.
Shares of NYSE ATI opened at $24.91 on Friday. The stock has a market cap of $3.26 billion, a PE ratio of 51.90, a PEG ratio of 1.09 and a beta of 2.39. Allegheny Technologies Incorporated has a 12 month low of $22.23 and a 12 month high of $30.25. The company has a quick ratio of 1.21, a current ratio of 2.90 and a debt-to-equity ratio of 0.74.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, October 23rd. The basic materials company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. Allegheny Technologies had a return on equity of 10.15% and a net margin of 4.67%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) earnings per share. On average, research analysts predict that Allegheny Technologies Incorporated will post 1.58 earnings per share for the current fiscal year.
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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, converts, and distributes a range of 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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