Ashler Capital LLC Invests $28.62 Million in Allegheny Technologies Incorporated (ATI) Stock

Ashler Capital LLC acquired a new position in Allegheny Technologies Incorporated (NYSE:ATI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 968,351 shares of the basic materials company’s stock, valued at approximately $28,615,000. Allegheny Technologies accounts for about 1.6% of Ashler Capital LLC’s holdings, making the stock its 19th largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust boosted its holdings in Allegheny Technologies by 1.7% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 474,105 shares of the basic materials company’s stock worth $14,010,000 after buying an additional 7,904 shares during the period. Moody National Bank Trust Division bought a new position in Allegheny Technologies in the 3rd quarter worth approximately $454,000. Castleark Management LLC boosted its holdings in Allegheny Technologies by 9.4% in the 2nd quarter. Castleark Management LLC now owns 380,875 shares of the basic materials company’s stock worth $9,568,000 after buying an additional 32,585 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Allegheny Technologies by 7.8% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 81,261 shares of the basic materials company’s stock worth $2,401,000 after buying an additional 5,893 shares during the period. Finally, Stevens Capital Management LP bought a new position in Allegheny Technologies in the 2nd quarter worth approximately $1,973,000.

Shares of NYSE:ATI opened at $26.92 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 2.90 and a debt-to-equity ratio of 0.74. Allegheny Technologies Incorporated has a one year low of $21.53 and a one year high of $30.25. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 56.08, a PEG ratio of 1.11 and a beta of 2.40.

Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings results on Tuesday, October 23rd. The basic materials company reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.02). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. Allegheny Technologies had a net margin of 4.67% and a return on equity of 10.15%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) earnings per share. On average, equities analysts expect that Allegheny Technologies Incorporated will post 1.58 earnings per share for the current fiscal year.

Several research analysts recently commented on ATI shares. ValuEngine raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Monday, September 17th. Cowen reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Allegheny Technologies in a report on Monday, September 17th. Zacks Investment Research raised shares of Allegheny Technologies from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Thursday, September 13th. JPMorgan Chase & Co. raised shares of Allegheny Technologies from an “underweight” rating to a “neutral” rating and set a $28.00 price objective for the company in a report on Wednesday, October 24th. Finally, Buckingham Research raised their price objective on shares of Allegheny Technologies from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $33.56.

In other news, VP Karl D. Schwartz sold 1,000 shares of the firm’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $27.10, for a total transaction of $27,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

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Allegheny Technologies Company Profile

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces, converts, and distributes a range of high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as 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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