Allegheny Technologies Incorporated (ATI) Stake Lifted by Arizona State Retirement System

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Arizona State Retirement System grew its position in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 90,208 shares of the basic materials company’s stock after purchasing an additional 966 shares during the period. Arizona State Retirement System’s holdings in Allegheny Technologies were worth $1,964,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Capital Group LLC grew its position in shares of Allegheny Technologies by 336.2% during the 4th quarter. Private Capital Group LLC now owns 1,348 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 1,039 shares in the last quarter. Quantamental Technologies LLC purchased a new position in shares of Allegheny Technologies during the 4th quarter valued at $41,000. Fernwood Investment Management LLC purchased a new position in shares of Allegheny Technologies during the 3rd quarter valued at $207,000. First Hawaiian Bank purchased a new position in shares of Allegheny Technologies during the 3rd quarter valued at $225,000. Finally, MML Investors Services LLC purchased a new position in shares of Allegheny Technologies during the 3rd quarter valued at $241,000.

Shares of NYSE:ATI opened at $27.84 on Thursday. Allegheny Technologies Incorporated has a 52-week low of $20.84 and a 52-week high of $30.18. The firm has a market capitalization of $3.46 billion, a P/E ratio of 18.44, a P/E/G ratio of 0.96 and a beta of 2.37. The company has a quick ratio of 1.24, a current ratio of 2.68 and a debt-to-equity ratio of 0.77.

Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, January 22nd. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.03). Allegheny Technologies had a return on equity of 10.28% and a net margin of 5.50%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $991.88 million. During the same quarter last year, the firm posted $0.27 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. Sell-side analysts predict that Allegheny Technologies Incorporated will post 1.85 EPS for the current year.

In related news, Director Barabara S. Jeremiah sold 7,500 shares of the company’s stock in a transaction on Thursday, January 24th. The shares were sold at an average price of $25.61, for a total value of $192,075.00. Following the completion of the transaction, the director now directly owns 33,833 shares in the company, valued at $866,463.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

ATI has been the subject of several research reports. Cowen reiterated a “buy” rating and issued a $35.00 target price on shares of Allegheny Technologies in a research report on Thursday, November 8th. 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 research report on Wednesday, October 24th. Berenberg Bank initiated coverage on shares of Allegheny Technologies in a research report on Thursday, December 6th. They issued a “buy” rating and a $35.00 target price for the company. Longbow Research upgraded shares of Allegheny Technologies from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Tuesday, November 6th. Finally, ValuEngine upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $33.70.

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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, 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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Want to see what other hedge funds are holding ATI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegheny Technologies Incorporated (NYSE:ATI).

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

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