Allegheny Technologies Incorporated (ATI) Shares Bought by Aperio Group LLC
Aperio Group LLC boosted its position in Allegheny Technologies Incorporated (NYSE:ATI) by 65.9% during the second quarter, Holdings Channel reports. The fund owned 71,424 shares of the basic materials company’s stock after buying an additional 28,369 shares during the period. Aperio Group LLC’s holdings in Allegheny Technologies were worth $1,215,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in shares of Allegheny Technologies during the fourth quarter worth $286,000. Norges Bank acquired a new stake in shares of Allegheny Technologies during the fourth quarter worth $9,262,000. Teachers Advisors LLC boosted its stake in shares of Allegheny Technologies by 283.1% in the fourth quarter. Teachers Advisors LLC now owns 672,670 shares of the basic materials company’s stock worth $10,716,000 after buying an additional 497,106 shares during the period. Bank of Montreal Can boosted its stake in shares of Allegheny Technologies by 14.4% in the first quarter. Bank of Montreal Can now owns 10,142 shares of the basic materials company’s stock worth $182,000 after buying an additional 1,276 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Allegheny Technologies by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 27,500 shares of the basic materials company’s stock worth $494,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 96.61% of the company’s stock.
Shares of Allegheny Technologies Incorporated (NYSE:ATI) traded down 0.8379% during midday trading on Tuesday, hitting $17.9285. 234,844 shares of the stock were exchanged. The firm’s market cap is $1.95 billion. The stock’s 50 day moving average is $17.87 and its 200 day moving average is $17.89. Allegheny Technologies Incorporated has a 12-month low of $13.15 and a 12-month high of $23.69.
Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. The company had revenue of $880.20 million for the quarter, compared to analyst estimates of $874.95 million. Allegheny Technologies had a negative net margin of 14.89% and a positive return on equity of 0.08%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business posted ($0.21) EPS. On average, equities research analysts forecast that Allegheny Technologies Incorporated will post ($1.00) earnings per share for the current fiscal year.
A number of analysts recently weighed in on the stock. Cowen and Company reaffirmed a “hold” rating and set a $18.00 price target on shares of Allegheny Technologies in a research report on Tuesday, April 25th. J P Morgan Chase & Co raised shares of Allegheny Technologies from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $14.50 to $19.00 in a research report on Wednesday, July 26th. BidaskClub cut shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Berenberg Bank raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating and upped their price objective for the company from $16.10 to $17.20 in a research report on Monday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.65.
Allegheny Technologies Company Profile
Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, castings, components and machined parts.
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