First Mercantile Trust Co. Has $192,000 Holdings in Allegheny Technologies Incorporated (NYSE:ATI)

First Mercantile Trust Co. boosted its position in Allegheny Technologies Incorporated (NYSE:ATI) by 25.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,197 shares of the basic materials company’s stock after buying an additional 1,883 shares during the quarter. First Mercantile Trust Co.’s holdings in Allegheny Technologies were worth $192,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Frontier Capital Management Co. LLC grew its position in Allegheny Technologies by 102.7% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,000,237 shares of the basic materials company’s stock worth $41,705,000 after purchasing an additional 1,013,330 shares during the last quarter. Affinity Wealth Management LLC lifted its holdings in Allegheny Technologies by 7.0% during the 2nd quarter. Affinity Wealth Management LLC now owns 112,021 shares of the basic materials company’s stock valued at $2,275,000 after purchasing an additional 7,359 shares during the last quarter. Duality Advisers LP bought a new position in Allegheny Technologies during the 2nd quarter valued at about $560,000. Mutual of America Capital Management LLC raised its stake in shares of Allegheny Technologies by 6.8% in the second quarter. Mutual of America Capital Management LLC now owns 18,084 shares of the basic materials company’s stock worth $377,000 after acquiring an additional 1,146 shares during the last quarter. Finally, Teza Capital Management LLC bought a new position in shares of Allegheny Technologies in the second quarter worth about $216,000.

ATI stock opened at $17.33 on Wednesday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.56 and a current ratio of 3.33. The company’s 50-day simple moving average is $19.27 and its 200 day simple moving average is $21.29. Allegheny Technologies Incorporated has a 52 week low of $8.24 and a 52 week high of $25.03. The company has a market capitalization of $2.21 billion, a PE ratio of -1.79 and a beta of 1.80.

Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings data on Monday, August 2nd. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08. The firm had revenue of $616.20 million for the quarter, compared to the consensus estimate of $613.60 million. Allegheny Technologies had a negative net margin of 47.88% and a negative return on equity of 12.16%. The business’s revenue for the quarter was down 20.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) earnings per share. On average, analysts forecast that Allegheny Technologies Incorporated will post -0.19 EPS for the current year.

Separately, Bank of America upgraded shares of Allegheny Technologies from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $15.00 to $22.00 in a research report on Wednesday, July 7th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $23.67.

About Allegheny Technologies

Allegheny Technologies, Inc engages in the manufacture of specialty materials and components. It operates through the High Performance Materials and Components (HPMC) and Advanced Alloys & Solutions (AA&S) segments. The HPMC segment consists of the production of materials, parts, and components for aerospace and defense, medical, and energy markets.

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

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