Columbia Partners L L C Investment Management acquired a new stake in Allegheny Technologies Incorporated (NYSE:ATI) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 89,508 shares of the basic materials company’s stock, valued at approximately $2,160,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Frontier Capital Management Co. LLC grew its holdings in Allegheny Technologies by 35.7% in the fourth quarter. Frontier Capital Management Co. LLC now owns 7,848,107 shares of the basic materials company’s stock valued at $189,453,000 after purchasing an additional 2,065,137 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Allegheny Technologies by 5.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 615,119 shares of the basic materials company’s stock valued at $14,702,000 after purchasing an additional 31,373 shares during the period. Fernwood Investment Management LLC acquired a new stake in Allegheny Technologies in the third quarter valued at approximately $213,000. Point72 Asset Management L.P. acquired a new stake in Allegheny Technologies in the third quarter valued at approximately $4,541,000. Finally, Creative Planning acquired a new stake in Allegheny Technologies in the fourth quarter valued at approximately $218,000.
Shares of Allegheny Technologies Incorporated (ATI) opened at $27.26 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.69 and a quick ratio of 1.04. The stock has a market capitalization of $3,346.35, a P/E ratio of -31.70 and a beta of 2.44. Allegheny Technologies Incorporated has a 12 month low of $14.54 and a 12 month high of $30.25.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, January 23rd. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.12. The firm had revenue of $909.90 million for the quarter, compared to analyst estimates of $898.22 million. Allegheny Technologies had a positive return on equity of 3.47% and a negative net margin of 2.61%. The business’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) earnings per share. research analysts predict that Allegheny Technologies Incorporated will post 1.23 EPS for the current fiscal year.
Several analysts have commented on ATI shares. Zacks Investment Research lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Monday, January 15th. Cowen raised Allegheny Technologies from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Buckingham Research raised their price objective on Allegheny Technologies from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 26th. Bank of America reaffirmed a “neutral” rating and issued a $32.00 price target on shares of Allegheny Technologies in a research note on Wednesday, January 24th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. lifted their price target on Allegheny Technologies from $18.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $26.50.
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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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