HBK Investments L P Takes $1.81 Million Position in Allegheny Technologies Incorporated (ATI)

HBK Investments L P bought a new position in shares of Allegheny Technologies Incorporated (NYSE:ATI) during the fourth quarter, Holdings Channel reports. The fund bought 74,900 shares of the basic materials company’s stock, valued at approximately $1,808,000.

Several other institutional investors also recently made changes to their positions in ATI. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Allegheny Technologies by 42.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the basic materials company’s stock valued at $184,000 after buying an additional 2,269 shares during the period. Louisiana State Employees Retirement System raised its position in Allegheny Technologies by 9.3% during the fourth quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the basic materials company’s stock valued at $768,000 after buying an additional 2,700 shares during the period. First Mercantile Trust Co. raised its position in Allegheny Technologies by 10.6% during the fourth quarter. First Mercantile Trust Co. now owns 30,745 shares of the basic materials company’s stock valued at $742,000 after buying an additional 2,941 shares during the period. Global X Management Co. LLC raised its position in Allegheny Technologies by 75.3% during the fourth quarter. Global X Management Co. LLC now owns 7,579 shares of the basic materials company’s stock valued at $183,000 after buying an additional 3,255 shares during the period. Finally, Amalgamated Bank raised its position in Allegheny Technologies by 22.8% during the fourth quarter. Amalgamated Bank now owns 17,961 shares of the basic materials company’s stock valued at $434,000 after buying an additional 3,336 shares during the period.

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Allegheny Technologies Incorporated (NYSE ATI) opened at $26.60 on Tuesday. 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 52 week low of $14.54 and a 52 week high of $30.25. The company has a market capitalization of $3,402.90, a PE ratio of -30.93 and a beta of 2.37.

Allegheny Technologies (NYSE:ATI) last issued its earnings results on Tuesday, January 23rd. The basic materials company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. Allegheny Technologies had a positive return on equity of 3.47% and a negative net margin of 2.61%. The firm had revenue of $909.90 million for the quarter, compared to the consensus estimate of $898.22 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. equities research analysts forecast that Allegheny Technologies Incorporated will post 1.26 EPS for the current fiscal year.

Several research analysts recently weighed in on the company. Cowen reissued a “hold” rating and set a $23.00 price target on shares of Allegheny Technologies in a research report on Tuesday, December 12th. Bank of America raised Allegheny Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.61 to $32.00 in a research report on Friday, March 2nd. They noted that the move was a valuation call. Zacks Investment Research lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. JPMorgan Chase & Co. upped their price target on Allegheny Technologies from $18.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Finally, Buckingham Research upped their price target on Allegheny Technologies from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Allegheny Technologies currently has a consensus rating of “Hold” and a consensus price target of $27.63.

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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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