Allegheny Technologies Incorporated (ATI) Position Boosted by LS Investment Advisors LLC
LS Investment Advisors LLC boosted its position in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 24.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,982 shares of the basic materials company’s stock after buying an additional 1,745 shares during the period. LS Investment Advisors LLC’s holdings in Allegheny Technologies were worth $153,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in ATI. Nisa Investment Advisors LLC raised its stake in Allegheny Technologies by 63.6% in the first quarter. Nisa Investment Advisors LLC now owns 6,380 shares of the basic materials company’s stock worth $115,000 after buying an additional 2,480 shares in the last quarter. Neuburgh Advisers LLC raised its stake in Allegheny Technologies by 1.1% in the first quarter. Neuburgh Advisers LLC now owns 6,528 shares of the basic materials company’s stock worth $117,000 after buying an additional 68 shares in the last quarter. Creative Planning raised its stake in Allegheny Technologies by 2,619.9% in the second quarter. Creative Planning now owns 7,534 shares of the basic materials company’s stock worth $128,000 after buying an additional 7,257 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Allegheny Technologies during the first quarter worth about $169,000. Finally, Bank of Montreal Can raised its stake in Allegheny Technologies by 14.4% in the first quarter. Bank of Montreal Can now owns 10,142 shares of the basic materials company’s stock worth $182,000 after buying an additional 1,276 shares in the last quarter. Institutional investors and hedge funds own 96.61% of the company’s stock.
Shares of Allegheny Technologies Incorporated (NYSE:ATI) traded up 0.60% on Thursday, reaching $18.53. 333,410 shares of the company were exchanged. Allegheny Technologies Incorporated has a 12 month low of $13.15 and a 12 month high of $23.69. The stock has a 50 day moving average price of $17.73 and a 200-day moving average price of $17.97. The stock’s market capitalization is $2.02 billion.
Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $880.20 million for the quarter, compared to the consensus estimate of $874.95 million. Allegheny Technologies had a negative net margin of 14.89% and a positive return on equity of 0.08%. Allegheny Technologies’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company posted ($0.21) EPS. On average, equities analysts expect that Allegheny Technologies Incorporated will post ($1.00) EPS for the current fiscal year.
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A number of equities research analysts have recently issued reports on ATI shares. Zacks Investment Research upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Monday. BidaskClub upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Cowen and Company restated a “hold” rating and set a $18.00 price target on shares of Allegheny Technologies in a report on Tuesday, April 25th. Berenberg Bank upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating and boosted their price target for the company from $16.10 to $17.20 in a report on Monday, April 24th. Finally, J P Morgan Chase & Co upgraded shares of Allegheny Technologies from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $14.50 to $19.00 in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $19.65.
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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