Allegheny Technologies (ATI) Sets New 1-Year High at $28.68
Allegheny Technologies Incorporated (NYSE:ATI) shares reached a new 52-week high during trading on Thursday . The company traded as high as $28.68 and last traded at $27.39, with a volume of 1542700 shares changing hands. The stock had previously closed at $27.25.
A number of research analysts recently issued reports on the company. Cowen upgraded Allegheny Technologies from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. KeyCorp restated a “hold” rating on shares of Allegheny Technologies in a research note on Thursday, November 16th. Finally, Berenberg Bank set a $17.00 price target on Allegheny Technologies and gave the stock a “hold” rating in a research note on Thursday, October 19th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $21.29.
The stock has a market capitalization of $3,120.00, a P/E ratio of -35.00 and a beta of 2.39. The company has a quick ratio of 1.04, a current ratio of 2.68 and a debt-to-equity ratio of 1.30.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted 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 acquiring an additional 55,412 shares during the period. Frontier Capital Management Co. LLC lifted its position in Allegheny Technologies by 7.0% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 5,782,970 shares of the basic materials company’s stock worth $138,213,000 after acquiring an additional 377,915 shares during the period. Earnest Partners LLC lifted its position in Allegheny Technologies by 7.5% during the 2nd quarter. Earnest Partners LLC now owns 2,379,732 shares of the basic materials company’s stock worth $40,479,000 after acquiring an additional 165,182 shares during the period. Northern Trust Corp lifted its position in Allegheny Technologies by 1.3% during the 2nd quarter. Northern Trust Corp now owns 2,039,311 shares of the basic materials company’s stock worth $34,690,000 after acquiring an additional 25,526 shares during the period. Finally, KLCM Advisors Inc. lifted its position in Allegheny Technologies by 8.2% during the 2nd quarter. KLCM Advisors Inc. now owns 1,433,108 shares of the basic materials company’s stock worth $24,377,000 after acquiring an additional 109,124 shares during the period.
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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