Advisory Services Network LLC grew its position in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 19,684.8% in the 4th quarter, HoldingsChannel reports. The fund owned 6,529 shares of the basic materials company’s stock after buying an additional 6,496 shares during the period. Advisory Services Network LLC’s holdings in Allegheny Technologies were worth $158,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Iridian Asset Management LLC CT increased its holdings in shares of Allegheny Technologies by 0.4% during the fourth quarter. Iridian Asset Management LLC CT now owns 8,649,563 shares of the basic materials company’s stock valued at $208,800,000 after acquiring an additional 35,508 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in shares of Allegheny Technologies by 35.7% during 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 acquiring an additional 2,065,137 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Allegheny Technologies by 90.8% during the third quarter. Ameriprise Financial Inc. now owns 1,308,042 shares of the basic materials company’s stock valued at $31,264,000 after acquiring an additional 622,591 shares in the last quarter. Emerald Advisers Inc. PA increased its holdings in shares of Allegheny Technologies by 190.9% during the fourth quarter. Emerald Advisers Inc. PA now owns 941,793 shares of the basic materials company’s stock valued at $22,735,000 after acquiring an additional 618,060 shares in the last quarter. Finally, Mesirow Financial Investment Management Equity Management increased its holdings in shares of Allegheny Technologies by 16.4% during the fourth quarter. Mesirow Financial Investment Management Equity Management now owns 762,865 shares of the basic materials company’s stock valued at $18,415,000 after acquiring an additional 107,660 shares in the last quarter.
ATI has been the subject of several recent research reports. Buckingham Research upped their price target on Allegheny Technologies from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Zacks Investment Research downgraded Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Monday, January 15th. Cowen reiterated a “hold” rating and set a $23.00 price target on shares of Allegheny Technologies in a report on Tuesday, December 12th. KeyCorp reiterated a “hold” rating on shares of Allegheny Technologies in a report on Thursday, November 16th. Finally, Bank of America reiterated a “neutral” rating and set a $32.00 price target on shares of Allegheny Technologies in a report on Wednesday, January 24th. They noted that the move was a valuation call. One equities 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 company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $26.50.
Allegheny Technologies Incorporated (NYSE ATI) opened at $27.26 on Friday. The stock has a market capitalization of $3,430.00, a price-to-earnings ratio of -29.31 and a beta of 2.44. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.69 and a quick ratio of 1.04. Allegheny Technologies Incorporated has a 12 month low of $14.54 and a 12 month high of $30.25.
Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The firm had revenue of $909.90 million during the quarter, compared to the consensus estimate 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 for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) EPS. equities research analysts expect that Allegheny Technologies Incorporated will post 1.23 earnings per share for the current fiscal year.
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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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