Triangle Securities Wealth Management bought a new position in shares of Allegheny Technologies Incorporated (NYSE:ATI) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,843 shares of the basic materials company’s stock, valued at approximately $2,819,000. Allegheny Technologies comprises approximately 1.2% of Triangle Securities Wealth Management’s investment portfolio, making the stock its 25th largest holding.

Several other institutional investors have also modified their holdings of ATI. Beese Fulmer Investment Management Inc. acquired a new stake in shares of Allegheny Technologies in the first quarter valued at about $222,000. Roubaix Capital LLC acquired a new stake in shares of Allegheny Technologies in the first quarter valued at about $2,683,000. Geode Capital Management LLC grew its position in shares of Allegheny Technologies by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 1,328,777 shares of the basic materials company’s stock valued at $28,927,000 after purchasing an additional 96,014 shares during the period. Norges Bank acquired a new stake in shares of Allegheny Technologies in the fourth quarter valued at about $21,181,000. Finally, Millennium Management LLC grew its position in shares of Allegheny Technologies by 58.9% in the fourth quarter. Millennium Management LLC now owns 586,660 shares of the basic materials company’s stock valued at $12,772,000 after purchasing an additional 217,486 shares during the period.

In related news, insider Richard J. Harshman sold 10,780 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $29.13, for a total transaction of $314,021.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Barabara S. Jeremiah sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $25.61, for a total transaction of $192,075.00. Following the sale, the director now directly owns 33,833 shares in the company, valued at $866,463.13. The disclosure for this sale can be found here. Insiders sold a total of 45,628 shares of company stock worth $1,301,542 over the last quarter. 1.06% of the stock is currently owned by company insiders.

ATI traded up $0.08 on Wednesday, reaching $26.84. 10,603 shares of the company’s stock were exchanged, compared to its average volume of 1,615,063. The firm has a market capitalization of $3.37 billion, a PE ratio of 17.74, a PEG ratio of 1.01 and a beta of 2.39. Allegheny Technologies Incorporated has a twelve month low of $20.84 and a twelve month high of $30.18. The company has a current ratio of 2.68, a quick ratio of 1.24 and a debt-to-equity ratio of 0.77.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, January 22nd. The basic materials company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $991.88 million. Allegheny Technologies had a return on equity of 10.28% and a net margin of 5.50%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. As a group, analysts predict that Allegheny Technologies Incorporated will post 1.82 earnings per share for the current fiscal year.

Several analysts have recently issued reports on ATI shares. ValuEngine lowered shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Macquarie assumed coverage on shares of Allegheny Technologies in a research report on Thursday, February 14th. They issued an “outperform” rating and a $27.84 target price on the stock. 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. Finally, Zacks Investment Research upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $33.35.

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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.

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Institutional Ownership by Quarter for Allegheny Technologies (NYSE:ATI)

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