Sowell Financial Services LLC boosted its stake in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 60.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,273 shares of the basic materials company’s stock after purchasing an additional 479 shares during the period. Sowell Financial Services LLC’s holdings in Allegheny Technologies were worth $31,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of ATI. Nisa Investment Advisors LLC boosted its position in Allegheny Technologies by 310.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,605 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 5,750 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in Allegheny Technologies during the first quarter valued at approximately $180,000. Fox Run Management L.L.C. acquired a new position in Allegheny Technologies during the fourth quarter valued at approximately $182,000. Public Employees Retirement System of Ohio boosted its position in Allegheny Technologies by 8.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 11,307 shares of the basic materials company’s stock valued at $190,000 after purchasing an additional 869 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Allegheny Technologies during the fourth quarter valued at approximately $193,000.
In other news, CMO Kevin B. Kramer sold 10,000 shares of the stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $22.00, for a total transaction of $220,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.76% of the stock is currently owned by company insiders.
Allegheny Technologies (NYSE:ATI) last announced its earnings results on Wednesday, April 28th. The basic materials company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.18. The company had revenue of $693.00 million for the quarter, compared to analyst estimates of $650.41 million. Allegheny Technologies had a negative return on equity of 8.08% and a negative net margin of 58.90%. The firm’s quarterly revenue was down 27.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 earnings per share. On average, research analysts predict that Allegheny Technologies Incorporated will post -0.18 earnings per share for the current fiscal year.
ATI has been the subject of a number of recent analyst reports. Barclays raised Allegheny Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $16.00 to $26.00 in a research report on Tuesday, March 16th. KeyCorp raised their price objective on Allegheny Technologies from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday, May 4th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Allegheny Technologies has an average rating of “Buy” and a consensus target price of $21.83.
About Allegheny Technologies
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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