Wellington Management Group LLP reduced its position in Allegheny Technologies Incorporated (NYSE:ATI) by 19.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,974 shares of the basic materials company’s stock after selling 45,748 shares during the period. Wellington Management Group LLP’s holdings in Allegheny Technologies were worth $3,448,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Allegheny Technologies by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,187,268 shares of the basic materials company’s stock worth $18,914,000 after buying an additional 3,728 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Allegheny Technologies by 104.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 33,529 shares of the basic materials company’s stock valued at $534,000 after buying an additional 17,112 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Allegheny Technologies during the fourth quarter valued at $286,000. Thrivent Financial for Lutherans raised its stake in Allegheny Technologies by 10.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 18,700 shares of the basic materials company’s stock valued at $298,000 after buying an additional 1,700 shares in the last quarter. Finally, Norges Bank purchased a new stake in Allegheny Technologies during the fourth quarter valued at $9,262,000. Hedge funds and other institutional investors own 96.61% of the company’s stock.
Allegheny Technologies Incorporated (NYSE:ATI) traded down 1.95% on Tuesday, hitting $18.59. The stock had a trading volume of 1,360,154 shares. The firm’s market cap is $2.02 billion. The company has a 50-day moving average price of $17.52 and a 200 day moving average price of $17.92. Allegheny Technologies Incorporated has a 52-week low of $13.15 and a 52-week high of $23.69.
Allegheny Technologies (NYSE:ATI) last released its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. The business had revenue of $880.20 million during 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 company’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.21) EPS. Equities analysts forecast that Allegheny Technologies Incorporated will post ($1.00) earnings per share for the current fiscal year.
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Several equities research analysts recently weighed in on the company. BidaskClub lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Zacks Investment Research lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Cowen and Company lifted their price objective on Allegheny Technologies from $15.00 to $18.00 and gave the company a “market perform” rating in a research note on Monday, April 17th. J P Morgan Chase & Co upgraded Allegheny Technologies from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $14.50 to $19.00 in a research note on Wednesday, July 26th. Finally, Berenberg Bank upgraded Allegheny Technologies from a “sell” rating to a “hold” rating and lifted their price objective for the company from $16.10 to $17.20 in a research note on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Allegheny Technologies has a consensus rating of “Hold” and a consensus target price of $19.65.
Allegheny Technologies Company Profile
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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