Allegheny Technologies Inc. (NYSE:ATI) shares saw unusually-high trading volume on Thursday . Approximately 1,599,994 shares changed hands during mid-day trading, a decline of 14% from the previous session’s volume of 1,850,987 shares.The stock last traded at $16.88 and had previously closed at $16.59.

Several research firms have commented on ATI. Zacks Investment Research upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Friday, April 29th. Berenberg Bank reiterated a “hold” rating on shares of Allegheny Technologies in a report on Wednesday, May 18th. Bank of America Corp. upgraded shares of Allegheny Technologies from an “underperform” rating to a “buy” rating and set a $14.00 price target for the company in a report on Monday, May 23rd. Finally, Cowen and Company upgraded shares of Allegheny Technologies from an “underperform” rating to a “market perform” rating in a report on Wednesday, July 27th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.32.

The company’s market capitalization is $1.83 billion. The firm has a 50 day moving average of $16.49 and a 200 day moving average of $14.82.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, July 26th. The company reported ($0.18) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.19. The business earned $810.50 million during the quarter, compared to analysts’ expectations of $792.11 million. During the same quarter in the previous year, the business posted ($0.15) EPS. The company’s quarterly revenue was down 20.7% on a year-over-year basis. Analysts expect that Allegheny Technologies Inc. will post ($0.85) earnings per share for the current fiscal year.

The firm also recently declared 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 yield of 1.90%.

A hedge fund recently raised its stake in Allegheny Technologies stock. State of New Jersey Common Pension Fund D raised its stake in shares of Allegheny Technologies Inc. (NYSE:ATI) by 140.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 600,000 shares of the company’s stock after buying an additional 350,000 shares during the period. State of New Jersey Common Pension Fund D owned 0.55% of Allegheny Technologies worth $6,750,000 as of its most recent SEC filing.

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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