Croft Leominster Inc. continued to hold its stake in Allegheny Technologies Incorporated (NYSE:ATI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,000 shares of the basic materials company’s stock at the end of the second quarter. Croft Leominster Inc.’s holdings in Allegheny Technologies were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in ATI. UBS Asset Management Americas Inc. boosted its stake in Allegheny Technologies by 2.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 96,714 shares of the basic materials company’s stock worth $1,737,000 after purchasing an additional 2,347 shares in the last quarter. Karp Capital Management Corp bought a new position in Allegheny Technologies in the 1st quarter worth about $773,000. Envestnet Asset Management Inc. boosted its stake in Allegheny Technologies by 2.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 34,220 shares of the basic materials company’s stock worth $614,000 after purchasing an additional 691 shares in the last quarter. Prudential Financial Inc. boosted its stake in Allegheny Technologies by 6.9% in the 1st quarter. Prudential Financial Inc. now owns 72,342 shares of the basic materials company’s stock worth $1,299,000 after purchasing an additional 4,670 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Allegheny Technologies in the 1st quarter worth about $750,000.
Allegheny Technologies Incorporated (NYSE:ATI) traded up 1.60% during midday trading on Friday, hitting $24.70. 490,424 shares of the stock traded hands. The company has a 50-day moving average of $22.67 and a 200-day moving average of $18.68. The stock’s market cap is $2.69 billion. Allegheny Technologies Incorporated has a 12 month low of $13.15 and a 12 month high of $25.51.
Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The company had revenue of $880.20 million during the quarter, compared to analysts’ expectations of $874.95 million. Allegheny Technologies had a positive return on equity of 0.08% and a negative net margin of 14.89%. Allegheny Technologies’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned ($0.21) earnings per share. On average, equities research analysts anticipate that Allegheny Technologies Incorporated will post ($1.00) earnings per share for the current year.
A number of brokerages have weighed in on ATI. BidaskClub lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Cowen and Company reissued a “hold” rating and issued a $18.00 target price on shares of Allegheny Technologies in a research report on Thursday. Zacks Investment Research lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. KeyCorp reissued a “hold” rating on shares of Allegheny Technologies in a research report on Wednesday. Finally, Longbow Research reissued a “buy” rating and issued a $24.00 target price on shares of Allegheny Technologies in a research report on Wednesday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Allegheny Technologies presently has a consensus rating of “Hold” and an average target price of $20.60.
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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