Allegheny Technologies Incorporated (ATI) Shares Bought by State Treasurer State of Michigan

State Treasurer State of Michigan increased its holdings in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 10.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,200 shares of the basic materials company’s stock after purchasing an additional 4,300 shares during the quarter. State Treasurer State of Michigan’s holdings in Allegheny Technologies were worth $1,091,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in Allegheny Technologies by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 9,137,494 shares of the basic materials company’s stock worth $155,430,000 after purchasing an additional 55,412 shares in the last quarter. Frontier Capital Management Co. LLC grew its position 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 acquiring an additional 2,065,137 shares in the last quarter. Ameriprise Financial Inc. grew its position in Allegheny Technologies by 90.8% in 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. Mesirow Financial Investment Management Equity Management grew its position in Allegheny Technologies by 16.4% in 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. Finally, Schwab Charles Investment Management Inc. grew its position in Allegheny Technologies by 15.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 710,885 shares of the basic materials company’s stock valued at $17,161,000 after acquiring an additional 95,766 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Shares of Allegheny Technologies Incorporated (NYSE:ATI) opened at $27.82 on Friday. Allegheny Technologies Incorporated has a 1 year low of $14.54 and a 1 year high of $30.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.04 and a current ratio of 2.69. The firm has a market cap of $3,502.54, a P/E ratio of 61.82 and a beta of 2.44.

Allegheny Technologies (NYSE:ATI) last released its quarterly earnings results on Tuesday, January 23rd. The basic materials company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Allegheny Technologies had a negative net margin of 2.61% and a positive return on equity of 3.47%. The business had revenue of $909.90 million during the quarter, compared to the consensus estimate of $898.22 million. During the same quarter last year, the company earned ($0.04) earnings per share. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. research analysts expect that Allegheny Technologies Incorporated will post 1.23 EPS for the current fiscal year.

Several analysts have issued reports on ATI shares. KeyCorp reaffirmed a “hold” rating on shares of Allegheny Technologies in a research report on Thursday, November 16th. Cowen reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Allegheny Technologies in a research report on Tuesday, December 12th. Zacks Investment Research downgraded shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. Bank of America reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Allegheny Technologies in a research report on Wednesday, January 24th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. increased their price objective on shares of Allegheny Technologies from $18.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $26.50.

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About Allegheny Technologies

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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