Gamco Investors INC. ET AL boosted its stake in shares of Allegheny Technologies Incorporated (NYSE:ATI – Get Rating) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 555,500 shares of the basic materials company’s stock after acquiring an additional 9,000 shares during the quarter. Gamco Investors INC. ET AL owned about 0.44% of Allegheny Technologies worth $8,849,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Huntington National Bank increased its stake in Allegheny Technologies by 18.0% during the fourth quarter. Huntington National Bank now owns 3,280 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 501 shares during the last quarter. Emerald Advisers LLC bought a new position in shares of Allegheny Technologies during the fourth quarter valued at approximately $89,000. O Shaughnessy Asset Management LLC grew its stake in shares of Allegheny Technologies by 2,742.1% during the third quarter. O Shaughnessy Asset Management LLC now owns 5,400 shares of the basic materials company’s stock valued at $90,000 after buying an additional 5,210 shares during the last quarter. Rafferty Asset Management LLC bought a new position in shares of Allegheny Technologies during the fourth quarter valued at approximately $161,000. Finally, Great Lakes Advisors LLC bought a new position in shares of Allegheny Technologies during the fourth quarter valued at approximately $181,000.
In other Allegheny Technologies news, CMO Kevin B. Kramer sold 10,000 shares of the company’s stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief marketing officer now owns 160,338 shares in the company, valued at $4,810,140. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.82% of the stock is owned by corporate insiders.
Allegheny Technologies (NYSE:ATI – Get Rating) last posted its earnings results on Wednesday, May 4th. The basic materials company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.18. The company had revenue of $834.10 million during the quarter, compared to analyst estimates of $748.04 million. Allegheny Technologies had a return on equity of 11.17% and a net margin of 0.02%. Allegheny Technologies’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Equities analysts expect that Allegheny Technologies Incorporated will post 1.26 earnings per share for the current year.
Allegheny Technologies announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 2nd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the basic materials company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
ATI has been the topic of a number of analyst reports. KeyCorp upped their target price on Allegheny Technologies from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, April 4th. Zacks Investment Research raised Allegheny Technologies from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a research note on Tuesday, February 8th. StockNews.com assumed coverage on Allegheny Technologies in a report on Thursday, March 31st. They issued a “hold” rating for the company. Barclays boosted their price target on Allegheny Technologies from $23.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, February 7th. Finally, TheStreet upgraded Allegheny Technologies from a “d” rating to a “c-” rating in a report on Wednesday, February 2nd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Allegheny Technologies has an average rating of “Buy” and an average price target of $26.11.
Allegheny Technologies Profile (Get Rating)
Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.
- Get a free copy of the StockNews.com research report on Allegheny Technologies (ATI)
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