Credit Suisse AG lowered its position in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 20.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 103,695 shares of the basic materials company’s stock after selling 27,009 shares during the period. Credit Suisse AG owned about 0.10% of Allegheny Technologies worth $1,863,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. NorthRock Partners LLC acquired a new position in shares of Allegheny Technologies during the first quarter worth about $746,000. Sei Investments Co. boosted its stake in Allegheny Technologies by 82.9% in the first quarter. Sei Investments Co. now owns 374,519 shares of the basic materials company’s stock valued at $6,726,000 after buying an additional 169,767 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Allegheny Technologies by 11.7% in the first quarter. Victory Capital Management Inc. now owns 2,407,572 shares of the basic materials company’s stock valued at $43,240,000 after buying an additional 251,914 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Allegheny Technologies by 63.6% in the first quarter. Nisa Investment Advisors LLC now owns 6,380 shares of the basic materials company’s stock valued at $115,000 after buying an additional 2,480 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 valued at $923,000 after buying an additional 544 shares during the last quarter. Institutional investors own 96.61% of the company’s stock.
Shares of Allegheny Technologies Incorporated (NYSE ATI) traded down 1.16% during mid-day trading on Friday, hitting $17.82. The stock had a trading volume of 459,359 shares. The stock’s market cap is $1.94 billion. The company’s 50 day moving average is $17.79 and its 200-day moving average is $17.97. 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 analysts’ consensus estimates of $0.07 by $0.02. Allegheny Technologies had a net margin of 1.52% and a return on equity of 2.89%. The company had revenue of $880.20 million during the quarter, compared to analysts’ expectations of $874.95 million. During the same quarter in the previous year, the company earned ($0.21) earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts anticipate that Allegheny Technologies Incorporated will post ($1.00) earnings per share for the current fiscal year.
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ATI has been the topic of several research reports. BidaskClub cut Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Zacks Investment Research cut Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Berenberg Bank raised 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 report on Monday, April 24th. 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 report on Monday, April 17th. Finally, J P Morgan Chase & Co raised 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 report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target 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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