Credit Suisse AG reduced its position in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 20.7% during the first quarter, Holdings Channel reports. The fund owned 103,695 shares of the basic materials company’s stock after selling 27,009 shares during the period. Credit Suisse AG’s holdings in Allegheny Technologies were worth $1,863,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ATI. Bbva Compass Bancshares Inc. boosted its stake in Allegheny Technologies by 69.7% in the first quarter. Bbva Compass Bancshares Inc. now owns 41,162 shares of the basic materials company’s stock worth $739,000 after buying an additional 16,901 shares in the last quarter. State Treasurer State of Michigan boosted its stake in Allegheny Technologies by 0.7% in the first quarter. State Treasurer State of Michigan now owns 44,200 shares of the basic materials company’s stock worth $794,000 after buying an additional 300 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in Allegheny Technologies by 3.5% in 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 buying an additional 2,301 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Allegheny Technologies by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 38,146 shares of the basic materials company’s stock worth $685,000 after buying an additional 500 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its stake in Allegheny Technologies by 2.2% in the first quarter. Nationwide Fund Advisors now owns 264,486 shares of the basic materials company’s stock worth $4,750,000 after buying an additional 5,718 shares in the last quarter. 96.61% of the stock is owned by institutional investors.

Allegheny Technologies Incorporated (NYSE:ATI) traded down 1.16% during mid-day trading on Friday, hitting $17.82. 459,359 shares of the stock were exchanged. The company’s market cap is $1.94 billion. The company has a 50-day moving average price of $17.79 and a 200-day moving average price of $17.97. Allegheny Technologies Incorporated has a one year low of $13.15 and a one year high of $23.69.

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 firm had revenue of $880.20 million for the quarter, compared to analysts’ expectations of $874.95 million. Allegheny Technologies had a net margin of 1.52% and a return on equity of 2.89%. Allegheny Technologies’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) earnings per share. Analysts forecast that Allegheny Technologies Incorporated will post ($1.00) earnings per share for the current fiscal year.

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A number of analysts have recently commented on ATI shares. Zacks Investment Research raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Monday. BidaskClub raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Cowen and Company reissued a “hold” rating and set a $18.00 target price on shares of Allegheny Technologies in a research note on Tuesday, April 25th. Berenberg Bank raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating and boosted their target price for the stock from $16.10 to $17.20 in a research note on Monday, April 24th. Finally, J P Morgan Chase & Co raised shares of Allegheny Technologies from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $14.50 to $19.00 in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Allegheny Technologies presently has an average rating of “Hold” and a consensus price target 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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Institutional Ownership by Quarter for Allegheny Technologies (NYSE:ATI)

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