ProShare Advisors LLC lowered its position in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 20.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,148 shares of the basic materials company’s stock after selling 6,043 shares during the period. ProShare Advisors LLC’s holdings in Allegheny Technologies were worth $411,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ATI. Great West Life Assurance Co. Can lifted its stake in Allegheny Technologies by 3.5% during the first quarter. Great West Life Assurance Co. Can now owns 67,616 shares of the basic materials company’s stock worth $1,213,000 after purchasing an additional 2,301 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in Allegheny Technologies by 2.5% during the first quarter. UBS Asset Management Americas Inc. now owns 96,714 shares of the basic materials company’s stock worth $1,737,000 after purchasing an additional 2,347 shares during the last quarter. Karp Capital Management Corp bought a new stake in Allegheny Technologies during the first quarter worth about $773,000. Mason Street Advisors LLC lifted its stake in Allegheny Technologies by 1.1% during the first quarter. Mason Street Advisors LLC now owns 51,383 shares of the basic materials company’s stock worth $923,000 after purchasing an additional 544 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Allegheny Technologies by 2.1% during the first quarter. Envestnet Asset Management Inc. now owns 34,220 shares of the basic materials company’s stock worth $614,000 after purchasing an additional 691 shares during the last quarter. 96.61% of the stock is owned by hedge funds and other institutional investors.

ATI has been the subject of several research analyst reports. BidaskClub raised Allegheny Technologies from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Zacks Investment Research lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. J P Morgan Chase & Co raised Allegheny Technologies from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $14.50 to $19.00 in a research note on Wednesday, July 26th. Longbow Research reaffirmed a “buy” rating and set a $24.00 price target on shares of Allegheny Technologies in a research note on Wednesday, August 23rd. Finally, Bank of America Corporation raised Allegheny Technologies from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $16.00 to $24.00 in a research note on Monday, September 11th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $20.65.

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Allegheny Technologies Incorporated (NYSE:ATI) opened at 24.67 on Friday. Allegheny Technologies Incorporated has a 12-month low of $13.15 and a 12-month high of $25.51. The stock has a 50 day moving average price of $22.14 and a 200 day moving average price of $18.49. The stock’s market cap is $2.69 billion.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.02. Allegheny Technologies had a negative net margin of 14.89% and a positive return on equity of 0.08%. The company had revenue of $880.20 million for the quarter, compared to analyst estimates of $874.95 million. During the same period in the prior year, the company posted ($0.21) EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts forecast that Allegheny Technologies Incorporated will post ($1.00) earnings per share for the current fiscal year.

Allegheny Technologies 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.

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

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