Allegheny Technologies Inc. (ATI) Shares Down 2.7%
Allegheny Technologies Inc. (NYSE:ATI) fell 2.7% on Friday . The company traded as low as $17.16 and last traded at $17.35, with a volume of 593,662 shares trading hands. The stock had previously closed at $17.83.
A number of brokerages recently weighed in on ATI. Cowen and Company raised Allegheny Technologies from an “underperform” rating to a “market perform” rating in a research report on Wednesday, July 27th. Berenberg Bank reaffirmed a “hold” rating and set a $13.90 price objective on shares of Allegheny Technologies in a research report on Wednesday, July 27th. Zacks Investment Research raised Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Friday, April 29th. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of Allegheny Technologies in a research report on Friday, June 17th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Allegheny Technologies has a consensus rating of “Buy” and an average target price of $21.32.
The stock’s market capitalization is $1.89 billion. The company has a 50 day moving average price of $16.11 and a 200-day moving average price of $14.60.
Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings data on Tuesday, July 26th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.19. During the same quarter in the prior year, the firm posted ($0.15) EPS. The firm earned $810.50 million during the quarter, compared to analysts’ expectations of $792.11 million. Allegheny Technologies’s quarterly revenue was down 20.7% compared to the same quarter last year. On average, analysts expect that Allegheny Technologies Inc. will post ($0.85) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be issued a $0.08 dividend. The ex-dividend date is Tuesday, August 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.84%.
A hedge fund recently raised its stake in Allegheny Technologies stock. California Public Employees Retirement System boosted its stake in shares of Allegheny Technologies Inc. (NYSE:ATI) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 338,474 shares of the company’s stock after buying an additional 33,000 shares during the period. California Public Employees Retirement System owned about 0.31% of Allegheny Technologies worth $3,808,000 at the end of the most recent 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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