First Mercantile Trust Co. Has $481,000 Position in Allegheny Technologies Incorporated (ATI)

First Mercantile Trust Co. cut its stake in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 19.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 28,263 shares of the basic materials company’s stock after selling 6,613 shares during the period. First Mercantile Trust Co.’s holdings in Allegheny Technologies were worth $481,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ATI. Nisa Investment Advisors LLC boosted its stake in shares of 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 period. Neuburgh Advisers LLC boosted 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 during the last quarter. Financial Architects Inc boosted its position in shares of Allegheny Technologies by 180.0% in the second quarter. Financial Architects Inc now owns 7,000 shares of the basic materials company’s stock worth $119,000 after buying an additional 4,500 shares during the last quarter. Creative Planning boosted its position in shares of Allegheny Technologies by 2,619.9% in the second quarter. Creative Planning now owns 7,534 shares of the basic materials company’s stock worth $128,000 after buying an additional 7,257 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of Allegheny Technologies by 24.1% in the second quarter. LS Investment Advisors LLC now owns 8,982 shares of the basic materials company’s stock worth $153,000 after buying an additional 1,745 shares during the last quarter. Hedge funds and other institutional investors own 96.61% of the company’s stock.

Shares of Allegheny Technologies Incorporated (NYSE ATI) opened at 18.05 on Wednesday. Allegheny Technologies Incorporated has a 52-week low of $13.15 and a 52-week high of $23.69. The stock has a 50 day moving average of $17.91 and a 200-day moving average of $17.86. The stock’s market capitalization is $1.97 billion.

Allegheny Technologies (NYSE:ATI) last released its earnings results on Tuesday, July 25th. The basic materials company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. Allegheny Technologies had a positive return on equity of 0.08% and a negative net margin of 14.89%. The firm had revenue of $880.20 million for the quarter, compared to analysts’ expectations of $874.95 million. During the same quarter in the previous year, the business posted ($0.21) EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts predict that Allegheny Technologies Incorporated will post ($1.00) EPS for the current fiscal year.

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A number of equities analysts have recently weighed in on ATI shares. Zacks Investment Research raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. BidaskClub upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. J P Morgan Chase & Co upgraded shares of Allegheny Technologies from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $14.50 to $19.00 in a research note on Wednesday, July 26th. Cowen and Company reiterated a “hold” rating and set a $18.00 price objective on shares of Allegheny Technologies in a research note on Tuesday, April 25th. Finally, Berenberg Bank upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $16.10 to $17.20 in a research note on Monday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently 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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Institutional Ownership by Quarter for Allegheny Technologies (NYSE:ATI)

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