Alpha Windward LLC Makes New Investment in Allegheny Technologies Incorporated (NYSE:ATI)

Alpha Windward LLC bought a new position in Allegheny Technologies Incorporated (NYSE:ATI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 20,400 shares of the basic materials company’s stock, valued at approximately $421,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Trust Advisors LP purchased a new position in Allegheny Technologies during the 1st quarter valued at about $3,043,000. Prudential Financial Inc. grew its stake in Allegheny Technologies by 6.1% in the second quarter. Prudential Financial Inc. now owns 84,451 shares of the basic materials company’s stock valued at $2,128,000 after purchasing an additional 4,880 shares in the last quarter. Bank of Montreal Can grew its stake in Allegheny Technologies by 22.8% in the second quarter. Bank of Montreal Can now owns 41,100 shares of the basic materials company’s stock valued at $1,036,000 after purchasing an additional 7,620 shares in the last quarter. LPL Financial LLC grew its stake in Allegheny Technologies by 36.4% in the second quarter. LPL Financial LLC now owns 13,226 shares of the basic materials company’s stock valued at $333,000 after purchasing an additional 3,530 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Allegheny Technologies in the second quarter valued at approximately $2,170,000.

ATI has been the subject of a number of analyst reports. Buckingham Research decreased their price target on Allegheny Technologies from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Longbow Research downgraded Allegheny Technologies from a “neutral” rating to an “underperform” rating and set a $18.00 price target for the company. in a research note on Tuesday, October 15th. Cowen restated a “buy” rating and issued a $26.00 price target on shares of Allegheny Technologies in a research note on Thursday, December 12th. Zacks Investment Research upgraded Allegheny Technologies from a “strong sell” rating to a “hold” rating and set a $20.00 price target for the company in a research note on Friday, December 13th. Finally, TheStreet upgraded Allegheny Technologies from a “c+” rating to a “b” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Allegheny Technologies has an average rating of “Hold” and a consensus price target of $23.33.

ATI opened at $19.06 on Wednesday. Allegheny Technologies Incorporated has a 12-month low of $17.03 and a 12-month high of $29.50. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.72 and a beta of 2.27. The business has a 50 day moving average of $21.43 and a 200-day moving average of $21.41. The company has a quick ratio of 1.64, a current ratio of 3.17 and a debt-to-equity ratio of 0.68.

Allegheny Technologies (NYSE:ATI) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.45. Allegheny Technologies had a return on equity of 7.38% and a net margin of 5.85%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm posted $0.37 earnings per share. The business’s revenue was down .1% on a year-over-year basis. As a group, analysts expect that Allegheny Technologies Incorporated will post 1.19 earnings per share for the current year.

Allegheny Technologies 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 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: Initial Coin Offering (ICO)

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

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