Engineers Gate Manager LP Purchases New Holdings in Allegheny Technologies Incorporated (ATI)

Engineers Gate Manager LP purchased a new stake in Allegheny Technologies Incorporated (NYSE:ATI) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 71,710 shares of the basic materials company’s stock, valued at approximately $1,731,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strs Ohio acquired a new stake in shares of Allegheny Technologies in the 3rd quarter valued at approximately $145,000. Flinton Capital Management LLC lifted its holdings in shares of Allegheny Technologies by 70.8% in the 2nd quarter. Flinton Capital Management LLC now owns 9,184 shares of the basic materials company’s stock valued at $156,000 after buying an additional 3,808 shares during the period. Sciencast Management LP acquired a new stake in shares of Allegheny Technologies in the 2nd quarter valued at approximately $179,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Allegheny Technologies in the 3rd quarter valued at approximately $181,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Allegheny Technologies by 42.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the basic materials company’s stock valued at $184,000 after buying an additional 2,269 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

Allegheny Technologies Incorporated (NYSE ATI) opened at $25.87 on Thursday. The company has a current ratio of 2.69, a quick ratio of 1.04 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $3,255.77, a price-to-earnings ratio of -30.08 and a beta of 2.44. Allegheny Technologies Incorporated has a 1 year low of $14.54 and a 1 year high of $30.25.

Allegheny Technologies (NYSE:ATI) last released its quarterly earnings results on Tuesday, January 23rd. The basic materials company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. The company had revenue of $909.90 million during the quarter, compared to the consensus estimate of $898.22 million. Allegheny Technologies had a positive return on equity of 3.47% and a negative net margin of 2.61%. Allegheny Technologies’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) earnings per share. sell-side analysts forecast that Allegheny Technologies Incorporated will post 1.23 EPS for the current fiscal year.

Several analysts have recently commented on ATI shares. Zacks Investment Research cut Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Monday, January 15th. Cowen raised Allegheny Technologies from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Buckingham Research lifted their price objective on Allegheny Technologies from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Bank of America reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Allegheny Technologies in a report on Wednesday, January 24th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. lifted their price objective on Allegheny Technologies from $18.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.50.

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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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