Mengis Capital Management Inc. Has $1.04 Million Position in Allegheny Technologies Incorporated (ATI)

Mengis Capital Management Inc. lowered its position in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,183 shares of the basic materials company’s stock after selling 184 shares during the period. Mengis Capital Management Inc. owned approximately 0.06% of Allegheny Technologies worth $1,040,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Allegheny Technologies by 5.4% in the first quarter. Vanguard Group Inc. now owns 9,082,082 shares of the basic materials company’s stock valued at $163,114,000 after buying an additional 464,285 shares in the last quarter. Iridian Asset Management LLC CT boosted its stake in Allegheny Technologies by 333.7% in the first quarter. Iridian Asset Management LLC CT now owns 6,677,269 shares of the basic materials company’s stock valued at $119,924,000 after buying an additional 5,137,810 shares in the last quarter. State Street Corp boosted its stake in Allegheny Technologies by 5.5% in the first quarter. State Street Corp now owns 5,869,035 shares of the basic materials company’s stock valued at $105,408,000 after buying an additional 307,747 shares in the last quarter. Sasco Capital Inc. CT raised its position in shares of Allegheny Technologies by 10.8% in the second quarter. Sasco Capital Inc. CT now owns 5,464,354 shares of the basic materials company’s stock valued at $92,949,000 after buying an additional 531,155 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its position in shares of Allegheny Technologies by 4.5% in the first quarter. Frontier Capital Management Co. LLC now owns 4,599,199 shares of the basic materials company’s stock valued at $82,602,000 after buying an additional 198,024 shares during the last quarter. 96.61% of the stock is owned by hedge funds and other institutional investors.

Allegheny Technologies Incorporated (NYSE ATI) traded up 2.54% on Friday, reaching $18.57. The company had a trading volume of 1,651,084 shares. The stock’s 50-day moving average price is $18.05 and its 200 day moving average price is $17.85. The firm’s market capitalization is $2.02 billion. Allegheny Technologies Incorporated has a 52-week low of $13.15 and a 52-week 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, beating the consensus estimate of $0.07 by $0.02. Allegheny Technologies had a negative net margin of 14.89% and a positive return on equity of 0.08%. The business had revenue of $880.20 million for the quarter, compared to analyst estimates of $874.95 million. During the same period in the previous year, the business earned ($0.21) EPS. The firm’s revenue was up 8.6% on a year-over-year basis. On average, equities analysts anticipate that Allegheny Technologies Incorporated will post ($1.00) earnings per share for the current fiscal year.

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Several brokerages recently weighed in on ATI. J P Morgan Chase & Co upgraded Allegheny Technologies from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $14.50 to $19.00 in a research report on Wednesday, July 26th. BidaskClub lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Cowen and Company restated a “hold” rating and set a $18.00 price target on shares of Allegheny Technologies in a research report on Tuesday, April 25th. Finally, Berenberg Bank upgraded Allegheny Technologies from a “sell” rating to a “hold” rating and raised their price target for the stock from $16.10 to $17.20 in a research report on Monday, April 24th. One 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. The stock presently has a consensus rating of “Hold” and an average 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.

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

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