PNC Financial Services Group Inc. decreased its holdings in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 40.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,524 shares of the basic materials company’s stock after selling 139,866 shares during the quarter. PNC Financial Services Group Inc. owned about 0.17% of Allegheny Technologies worth $6,161,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of ATI. Principal Financial Group Inc. grew its position in shares of Allegheny Technologies by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 545,243 shares of the basic materials company’s stock worth $12,912,000 after buying an additional 13,736 shares during the period. Advisory Services Network LLC boosted its stake in Allegheny Technologies by 39.1% during the 2nd quarter. Advisory Services Network LLC now owns 15,187 shares of the basic materials company’s stock worth $439,000 after acquiring an additional 4,270 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in Allegheny Technologies during the 2nd quarter worth approximately $219,000. Victory Capital Management Inc. boosted its stake in Allegheny Technologies by 60.4% during the 2nd quarter. Victory Capital Management Inc. now owns 5,769,058 shares of the basic materials company’s stock worth $144,919,000 after acquiring an additional 2,172,829 shares during the last quarter. Finally, IndexIQ Advisors LLC boosted its stake in Allegheny Technologies by 57.4% during the 2nd quarter. IndexIQ Advisors LLC now owns 9,311 shares of the basic materials company’s stock worth $234,000 after acquiring an additional 3,397 shares during the last quarter.
NYSE ATI opened at $26.92 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.21 and a current ratio of 2.90. Allegheny Technologies Incorporated has a 12-month low of $21.53 and a 12-month high of $30.25. The company has a market capitalization of $3.30 billion, a PE ratio of 56.08, a price-to-earnings-growth ratio of 1.11 and a beta of 2.40.
In other news, VP Karl D. Schwartz sold 1,000 shares of Allegheny Technologies stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $27.10, for a total value of $27,100.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.
Several research analysts recently weighed in on ATI shares. Buckingham Research lifted their price objective on shares of Allegheny Technologies from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. ValuEngine lowered shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. Zacks Investment Research lowered shares of Allegheny Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Cowen reaffirmed a “buy” rating and issued a $35.00 price target on shares of Allegheny Technologies in a research note on Monday, September 17th. Finally, JPMorgan Chase & Co. raised shares of Allegheny Technologies from an “underweight” rating to a “neutral” rating and set a $28.00 price target on the stock in a research note on Wednesday, October 24th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Allegheny Technologies currently has an average rating of “Buy” and a consensus target price of $33.56.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.com-unik.info/2018/12/04/pnc-financial-services-group-inc-has-6-16-million-stake-in-allegheny-technologies-incorporated-ati.html.
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.
Further Reading: Correction
Receive News & Ratings for Allegheny Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegheny Technologies and related companies with MarketBeat.com's FREE daily email newsletter.