Private Harbour Investment Management & Counsel LLC cut its holdings in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 2.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,425 shares of the basic materials company’s stock after selling 1,050 shares during the period. Private Harbour Investment Management & Counsel LLC’s holdings in Allegheny Technologies were worth $1,162,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Shine Investment Advisory Services Inc. lifted its position in shares of Allegheny Technologies by 123.5% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 1,133 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 626 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Allegheny Technologies by 283.3% in the 1st quarter. Quadrant Capital Group LLC now owns 1,265 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 935 shares during the period. Private Capital Group LLC lifted its position in shares of Allegheny Technologies by 336.2% in the 4th quarter. Private Capital Group LLC now owns 1,348 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 1,039 shares during the period. Quantamental Technologies LLC acquired a new position in shares of Allegheny Technologies in the 4th quarter worth approximately $41,000. Finally, Pearl River Capital LLC acquired a new position in shares of Allegheny Technologies in the 4th quarter worth approximately $48,000.
Allegheny Technologies stock opened at $23.06 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.22 and a current ratio of 2.87. Allegheny Technologies Incorporated has a 12-month low of $20.84 and a 12-month high of $30.18. The firm has a market cap of $2.90 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.01 and a beta of 2.34.
Allegheny Technologies (NYSE:ATI) last released its earnings results on Tuesday, April 23rd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.12. Allegheny Technologies had a net margin of 4.41% and a return on equity of 8.79%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $991.18 million. During the same quarter in the previous year, the company earned $0.32 EPS. Allegheny Technologies’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that Allegheny Technologies Incorporated will post 1.53 EPS for the current fiscal year.
In related news, insider Richard J. Harshman sold 10,780 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $29.13, for a total transaction of $314,021.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 38,128 shares of company stock worth $1,109,467 in the last quarter. 1.06% of the stock is owned by corporate insiders.
A number of research analysts have recently issued reports on ATI shares. Macquarie started coverage on shares of Allegheny Technologies in a research report on Thursday, February 14th. They issued an “outperform” rating and a $27.84 price target on the stock. ValuEngine downgraded shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Buckingham Research set a $45.00 price target on shares of Allegheny Technologies and gave the stock a “buy” rating in a research report on Monday, April 8th. Zacks Investment Research upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Finally, KeyCorp boosted their price target on shares of Allegheny Technologies from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Allegheny Technologies has an average rating of “Hold” and an average target price of $31.91.
Allegheny Technologies Company Profile
Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts.
Further Reading: Dividend
Want to see what other hedge funds are holding ATI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegheny Technologies Incorporated (NYSE:ATI).
Receive News & Ratings for Allegheny Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegheny Technologies and related companies with MarketBeat.com's FREE daily email newsletter.