Arizona State Retirement System Raises Stake in Allegheny Technologies Incorporated (ATI)

Arizona State Retirement System increased its position in Allegheny Technologies Incorporated (NYSE:ATI) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,208 shares of the basic materials company’s stock after buying an additional 966 shares during the period. Arizona State Retirement System owned 0.07% of Allegheny Technologies worth $1,964,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ATI. Vanguard Group Inc. boosted its stake in Allegheny Technologies by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 11,346,496 shares of the basic materials company’s stock valued at $335,290,000 after purchasing an additional 187,817 shares during the last quarter. Vanguard Group Inc boosted its stake in Allegheny Technologies by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 11,346,496 shares of the basic materials company’s stock valued at $335,290,000 after purchasing an additional 187,817 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in Allegheny Technologies by 19.7% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 9,562,933 shares of the basic materials company’s stock valued at $282,585,000 after purchasing an additional 1,572,523 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Allegheny Technologies by 12.1% during the 3rd quarter. Victory Capital Management Inc. now owns 6,469,854 shares of the basic materials company’s stock valued at $191,183,000 after purchasing an additional 700,796 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in Allegheny Technologies by 142.7% during the 3rd quarter. Capital Research Global Investors now owns 5,854,900 shares of the basic materials company’s stock valued at $173,012,000 after purchasing an additional 3,442,400 shares during the last quarter.

Shares of NYSE ATI opened at $27.84 on Thursday. Allegheny Technologies Incorporated has a twelve month low of $20.84 and a twelve month high of $30.18. The company has a market capitalization of $3.46 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 0.96 and a beta of 2.37. The company has a current ratio of 2.68, a quick ratio of 1.24 and a debt-to-equity ratio of 0.77.

Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, January 22nd. The basic materials company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Allegheny Technologies had a return on equity of 10.28% and a net margin of 5.50%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $991.88 million. During the same quarter in the previous year, the firm earned $0.27 EPS. Allegheny Technologies’s quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts forecast that Allegheny Technologies Incorporated will post 1.85 EPS for the current fiscal year.

ATI has been the subject of a number of analyst reports. ValuEngine upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Longbow Research upgraded Allegheny Technologies from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Tuesday, November 6th. Berenberg Bank assumed coverage on Allegheny Technologies in a research note on Thursday, December 6th. They issued a “buy” rating and a $35.00 target price on the stock. JPMorgan Chase & Co. upgraded Allegheny Technologies from an “underweight” rating to a “neutral” rating and set a $28.00 target price on the stock in a research note on Wednesday, October 24th. Finally, Cowen restated a “buy” rating and issued a $35.00 target price on shares of Allegheny Technologies in a research note on Thursday, November 8th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $33.70.

In other news, Director Barabara S. Jeremiah sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $25.61, for a total value of $192,075.00. Following the transaction, the director now owns 33,833 shares in the company, valued at approximately $866,463.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by insiders.

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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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