Allegheny Technologies Inc. (ATI) Stock Price Down 2.7%
Allegheny Technologies Inc. (NYSE:ATI) shares traded down 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 changing hands. The stock had previously closed at $17.83.
A number of research analysts have weighed in on the company. Cowen and Company raised Allegheny Technologies from an “underperform” rating to a “market perform” rating in a report on Wednesday, July 27th. Berenberg Bank reiterated a “hold” rating and set a $13.90 price target on shares of Allegheny Technologies in a research report on Wednesday, July 27th. Bank of America Corp. reiterated a “buy” rating on shares of Allegheny Technologies in a research report on Friday, June 17th. Finally, Zacks Investment Research upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, May 24th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $21.32.
The firm has a 50 day moving average price of $15.98 and a 200-day moving average price of $14.54. The stock’s market capitalization is $1.89 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. During the same quarter in the previous year, the company earned ($0.15) EPS. The company earned $810.50 million during the quarter, compared to analysts’ expectations of $792.11 million. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. Analysts expect that Allegheny Technologies Inc. will post ($0.85) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, August 16th.
Other hedge funds recently modified their holdings of the company. Rhumbline Advisers boosted its stake in shares of 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. Oarsman Capital Inc. boosted 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 valued at $2,621,000 after buying an additional 75,073 shares in the last quarter. California Public Employees Retirement System boosted 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 valued at $3,808,000 after buying an additional 33,000 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in 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 valued at $6,750,000 after buying an additional 350,000 shares in 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.