Teachers Advisors LLC boosted its stake in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 689,197 shares of the basic materials company’s stock after buying an additional 16,527 shares during the period. Teachers Advisors LLC’s holdings in Allegheny Technologies were worth $12,378,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Neuburgh Advisers LLC increased its position in shares of Allegheny Technologies by 1.1% in the first quarter. Neuburgh Advisers LLC now owns 6,528 shares of the basic materials company’s stock worth $117,000 after buying an additional 68 shares in the last quarter. State Treasurer State of Michigan increased its position in shares of Allegheny Technologies by 0.7% in the first quarter. State Treasurer State of Michigan now owns 44,200 shares of the basic materials company’s stock worth $794,000 after buying an additional 300 shares in the last quarter. Advantus Capital Management Inc increased its position in shares of Allegheny Technologies by 2.9% in the first quarter. Advantus Capital Management Inc now owns 13,926 shares of the basic materials company’s stock worth $250,000 after buying an additional 388 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Allegheny Technologies by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 38,146 shares of the basic materials company’s stock worth $685,000 after buying an additional 500 shares during the last quarter. Finally, Mason Street Advisors LLC boosted its stake in Allegheny Technologies by 1.1% in the first quarter. Mason Street Advisors LLC now owns 51,383 shares of the basic materials company’s stock worth $923,000 after buying an additional 544 shares during the last quarter. 96.61% of the stock is owned by institutional investors.
Allegheny Technologies Incorporated (NYSE:ATI) traded up 2.38% during midday trading on Wednesday, hitting $18.48. 983,916 shares of the stock traded hands. The firm’s market cap is $2.01 billion. The company’s 50-day moving average is $17.91 and its 200 day moving average is $17.86. Allegheny Technologies Incorporated has a 12-month low of $13.15 and a 12-month high of $23.69.
Allegheny Technologies (NYSE:ATI) last issued its earnings results on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The firm had revenue of $880.20 million for the quarter, compared to analyst estimates of $874.95 million. Allegheny Technologies had a positive return on equity of 0.08% and a negative net margin of 14.89%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company earned ($0.21) earnings per share. On average, analysts anticipate that Allegheny Technologies Incorporated will post ($1.00) EPS for the current fiscal year.
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ATI has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Berenberg Bank upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating and raised their price objective for the company from $16.10 to $17.20 in a research report on Monday, April 24th. BidaskClub upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Cowen and Company restated a “hold” rating and set a $18.00 price objective on shares of Allegheny Technologies in a research report on Tuesday, April 25th. Finally, J P Morgan Chase & Co upgraded shares of Allegheny Technologies from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $14.50 to $19.00 in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Allegheny Technologies currently has a consensus rating of “Hold” and a consensus price target of $19.65.
About Allegheny Technologies
Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, castings, components and machined parts.
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