Allegheny Technologies Inc. (ATI) Trading Up 5.1%
Allegheny Technologies Inc. (NYSE:ATI)’s share price was up 5.1% during trading on Monday . The stock traded as high as $18.05 and last traded at $18.01, with a volume of 1,084,573 shares. The stock had previously closed at $17.13.
Several equities analysts have recently commented on ATI shares. Bank of America Corp. restated a “buy” rating on shares of Allegheny Technologies in a report on Friday, June 17th. Cowen and Company upgraded shares of Allegheny Technologies from an “underperform” rating to a “market perform” rating in a report on Wednesday, July 27th. Zacks Investment Research upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, May 24th. Berenberg Bank restated a “hold” rating and issued a $13.90 price objective on shares of Allegheny Technologies in a report on Wednesday, July 27th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $26.00 price objective (up from $18.00) on shares of Allegheny Technologies in a report on Tuesday, April 19th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $21.32.
The company’s 50 day moving average price is $15.31 and its 200 day moving average price is $14.27. The stock’s market cap is $1.96 billion.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, July 26th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.19. The firm had revenue of $810.50 million for the quarter, compared to analysts’ expectations of $792.11 million. During the same quarter last year, the firm earned ($0.15) earnings per share. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. On average, analysts anticipate that Allegheny Technologies Inc. will post ($0.85) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, August 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.78%.
Several large investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund D increased its stake in shares of Allegheny Technologies by 140.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 600,000 shares of the company’s stock worth $6,750,000 after buying an additional 350,000 shares during the period. Oarsman Capital Inc. increased its stake in Allegheny Technologies by 47.5% in the fourth quarter. Oarsman Capital Inc. now owns 233,003 shares of the company’s stock worth $2,621,000 after buying an additional 75,073 shares during the last quarter. California Public Employees Retirement System increased its stake in Allegheny Technologies by 10.8% in the fourth quarter. California Public Employees Retirement System now owns 338,474 shares of the company’s stock worth $3,808,000 after buying an additional 33,000 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Allegheny Technologies by 0.4% in the fourth quarter. Rhumbline Advisers now owns 160,154 shares of the company’s stock worth $1,802,000 after buying an additional 684 shares during the last quarter.
Allegheny Technologies Incorporated (ATI) is a specialty materials and components producer. The Company operates through two business segments: High Performance Materials & Components and Flat Rolled Products. ATI’s products include titanium and titanium alloys, nickel-based alloys and specialty steels, precision forgings, castings and machined components, zirconium and related alloys, precision and engineered stainless steel strip, and grain-oriented electrical steel.
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