Allegheny Technologies Inc. (ATI) Shares Up 3.1%
Allegheny Technologies Inc. (NYSE:ATI) shares shot up 3.1% during mid-day trading on Thursday . The stock traded as high as $13.47 and last traded at $13.10, with a volume of 2,532,510 shares. The stock had previously closed at $12.71.
Several brokerages recently issued reports on ATI. Bank of America Corp. raised Allegheny Technologies from an “underperform” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Monday, May 23rd. Berenberg Bank reissued a “hold” rating on shares of Allegheny Technologies in a research note on Wednesday, May 18th. Zacks Investment Research raised Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Friday, April 29th. Rosenblatt Securities reissued a “buy” rating and issued a $26.00 price objective (up previously from $18.00) on shares of Allegheny Technologies in a research note on Tuesday, April 19th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $13.00 price objective (up previously from $10.00) on shares of Allegheny Technologies in a research note on Wednesday, March 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $21.32.
The firm has a 50 day moving average price of $12.80 and a 200-day moving average price of $13.15. The firm’s market capitalization is $1.43 billion.
Allegheny Technologies (NYSE:ATI) last released its quarterly earnings data on Tuesday, April 26th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by $0.02. The company earned $758 million during the quarter, compared to analysts’ expectations of $796.44 million. The business’s revenue was down 32.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS. Equities analysts expect that Allegheny Technologies Inc. will post ($1.06) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 9th. Investors of record on Friday, May 27th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Wednesday, May 25th.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. Rhumbline Advisers boosted its position 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 in the last quarter. PNC Financial Services Group Inc. boosted its position in Allegheny Technologies by 0.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 232,176 shares of the company’s stock worth $2,613,000 after buying an additional 970 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Allegheny Technologies by 1.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 150,095 shares of the company’s stock worth $1,689,000 after buying an additional 1,640 shares during the period. Retirement Systems of Alabama boosted its position in Allegheny Technologies by 1.3% in the fourth quarter. Retirement Systems of Alabama now owns 140,327 shares of the company’s stock worth $1,579,000 after buying an additional 1,828 shares during the period. Finally, California State Teachers Retirement System boosted its position in Allegheny Technologies by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 208,823 shares of the company’s stock worth $2,349,000 after buying an additional 3,291 shares during the period.
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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