BB&T Securities LLC acquired a new stake in shares of Allegheny Technologies Incorporated (NYSE:ATI) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,544 shares of the basic materials company’s stock, valued at approximately $439,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisory Services Network LLC lifted its holdings in shares of Allegheny Technologies by 19,684.8% during the 4th quarter. Advisory Services Network LLC now owns 6,529 shares of the basic materials company’s stock valued at $158,000 after acquiring an additional 6,496 shares in the last quarter. Global X Management Co. LLC lifted its holdings in Allegheny Technologies by 75.3% in the 4th quarter. Global X Management Co. LLC now owns 7,579 shares of the basic materials company’s stock worth $183,000 after buying an additional 3,255 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Allegheny Technologies by 42.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the basic materials company’s stock worth $184,000 after purchasing an additional 2,269 shares during the last quarter. Zeke Capital Advisors LLC bought a new stake in shares of Allegheny Technologies in the 1st quarter worth about $200,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Allegheny Technologies by 284.0% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 9,600 shares of the basic materials company’s stock worth $232,000 after purchasing an additional 7,100 shares during the last quarter.
Several research firms have recently weighed in on ATI. JPMorgan Chase & Co. downgraded shares of Allegheny Technologies from a “neutral” rating to an “underweight” rating and set a $25.00 target price for the company. in a research report on Friday, June 15th. ValuEngine upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Stephens began coverage on shares of Allegheny Technologies in a research report on Tuesday. They issued an “overweight” rating for the company. Barclays upped their price target on shares of Allegheny Technologies from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, April 27th. Finally, Cowen reaffirmed a “buy” rating and issued a $35.00 price target on shares of Allegheny Technologies in a research note on Friday, April 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Allegheny Technologies presently has a consensus rating of “Hold” and an average target price of $29.70.
Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings results on Tuesday, April 24th. The basic materials company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.08. Allegheny Technologies had a negative net margin of 1.41% and a positive return on equity of 4.75%. The company had revenue of $979.00 million for the quarter, compared to analyst estimates of $932.86 million. During the same quarter in the prior year, the business posted $0.16 EPS. Allegheny Technologies’s quarterly revenue was up 13.1% on a year-over-year basis. equities research analysts forecast that Allegheny Technologies Incorporated will post 1.38 earnings per share for the current year.
In other Allegheny Technologies news, VP Karl D. Schwartz sold 1,000 shares of the stock in a transaction on Thursday, April 26th. The shares were sold at an average price of $27.12, for a total value of $27,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John D. Sims sold 30,000 shares of the firm’s stock in a transaction dated Thursday, April 26th. The stock was sold at an average price of $27.34, for a total transaction of $820,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,000 shares of company stock valued at $874,660. 1.00% of the stock is owned by insiders.
Allegheny Technologies 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, converts, and distributes a range of 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.
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