Dimensional Fund Advisors LP trimmed its holdings in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 2.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,427,608 shares of the basic materials company’s stock after selling 31,534 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Allegheny Technologies were worth $34,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Allegheny Technologies by 0.6% during the second quarter. Vanguard Group Inc. now owns 9,137,494 shares of the basic materials company’s stock valued at $155,430,000 after buying an additional 55,412 shares during the period. Frontier Capital Management Co. LLC boosted its position in shares of Allegheny Technologies by 7.0% in the third quarter. Frontier Capital Management Co. LLC now owns 5,782,970 shares of the basic materials company’s stock worth $138,213,000 after purchasing an additional 377,915 shares during the period. Earnest Partners LLC boosted its position in shares of Allegheny Technologies by 7.5% in the second quarter. Earnest Partners LLC now owns 2,379,732 shares of the basic materials company’s stock worth $40,479,000 after purchasing an additional 165,182 shares during the period. Northern Trust Corp boosted its position in shares of Allegheny Technologies by 1.3% in the second quarter. Northern Trust Corp now owns 2,039,311 shares of the basic materials company’s stock worth $34,690,000 after purchasing an additional 25,526 shares during the period. Finally, KLCM Advisors Inc. boosted its position in shares of Allegheny Technologies by 8.2% in the second quarter. KLCM Advisors Inc. now owns 1,433,108 shares of the basic materials company’s stock worth $24,377,000 after purchasing an additional 109,124 shares during the period.

Allegheny Technologies Incorporated (NYSE:ATI) opened at $28.70 on Monday. The firm has a market cap of $3,124.37, a P/E ratio of -36.79 and a beta of 2.39. Allegheny Technologies Incorporated has a 12-month low of $14.54 and a 12-month high of $29.39. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.68 and a quick ratio of 1.04.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, October 24th. The basic materials company reported ($0.07) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.07). The business had revenue of $869.10 million during the quarter, compared to analyst estimates of $866.94 million. Allegheny Technologies had a negative net margin of 2.45% and a positive return on equity of 1.09%. The company’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.21) earnings per share. sell-side analysts anticipate that Allegheny Technologies Incorporated will post 0.32 EPS for the current year.

A number of equities analysts have weighed in on the stock. Cowen upgraded shares of Allegheny Technologies from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. Berenberg Bank set a $17.00 price target on shares of Allegheny Technologies and gave the stock a “hold” rating in a research report on Thursday, October 19th. Finally, KeyCorp reiterated a “hold” rating on shares of Allegheny Technologies in a research report on Wednesday, October 11th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $21.29.

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

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