Federated Investors Inc. PA trimmed its stake in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 14.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,215 shares of the basic materials company’s stock after selling 4,640 shares during the quarter. Federated Investors Inc. PA’s holdings in Allegheny Technologies were worth $480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Neuburgh Advisers LLC grew its position in Allegheny Technologies by 1.1% during the 1st quarter. Neuburgh Advisers LLC now owns 6,528 shares of the basic materials company’s stock worth $117,000 after acquiring an additional 68 shares during the last quarter. State Treasurer State of Michigan grew its position in Allegheny Technologies by 0.7% during the 1st quarter. State Treasurer State of Michigan now owns 44,200 shares of the basic materials company’s stock worth $794,000 after acquiring an additional 300 shares during the last quarter. Advantus Capital Management Inc grew its position in Allegheny Technologies by 2.9% during the 1st quarter. Advantus Capital Management Inc now owns 13,926 shares of the basic materials company’s stock worth $250,000 after acquiring an additional 388 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Allegheny Technologies by 1.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 38,146 shares of the basic materials company’s stock worth $685,000 after acquiring an additional 500 shares during the last quarter. Finally, Mason Street Advisors LLC grew its position in Allegheny Technologies by 1.1% during the 1st quarter. Mason Street Advisors LLC now owns 51,383 shares of the basic materials company’s stock worth $923,000 after acquiring an additional 544 shares during the last quarter. Institutional investors and hedge funds own 96.61% of the company’s stock.

Shares of Allegheny Technologies Incorporated (ATI) opened at 22.72 on Thursday. Allegheny Technologies Incorporated has a 12 month low of $13.15 and a 12 month high of $24.00. The stock has a 50 day moving average price of $20.09 and a 200-day moving average price of $17.92. The company’s market capitalization is $2.47 billion.

Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. Allegheny Technologies had a positive return on equity of 0.08% and a negative net margin of 14.89%. The firm had revenue of $880.20 million for the quarter, compared to the consensus estimate of $874.95 million. During the same period in the prior year, the business posted ($0.21) earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts expect that Allegheny Technologies Incorporated will post ($1.00) earnings per share for the current fiscal year.

Several research firms recently issued reports on ATI. BidaskClub upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Longbow Research reiterated a “buy” rating and issued a $24.00 price objective on shares of Allegheny Technologies in a research report on Wednesday, August 23rd. J P Morgan Chase & Co upgraded Allegheny Technologies from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $14.50 to $19.00 in a research report on Wednesday, July 26th. Finally, Bank of America Corporation upgraded Allegheny Technologies from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $16.00 to $24.00 in a research report on Monday, September 11th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $20.65.

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Allegheny Technologies 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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Institutional Ownership by Quarter for Allegheny Technologies (NYSE:ATI)

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