Louisiana State Employees Retirement System raised its position in Allegheny Technologies Incorporated (NYSE:ATI) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,400 shares of the basic materials company’s stock after buying an additional 900 shares during the period. Louisiana State Employees Retirement System’s holdings in Allegheny Technologies were worth $483,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ATI. NorthRock Partners LLC acquired a new position in shares of Allegheny Technologies during the first quarter worth approximately $746,000. Sei Investments Co. raised its position in shares of Allegheny Technologies by 82.9% in the first quarter. Sei Investments Co. now owns 374,519 shares of the basic materials company’s stock worth $6,726,000 after buying an additional 169,767 shares during the period. Victory Capital Management Inc. raised its position in shares of Allegheny Technologies by 11.7% in the first quarter. Victory Capital Management Inc. now owns 2,407,572 shares of the basic materials company’s stock worth $43,240,000 after buying an additional 251,914 shares during the period. Nisa Investment Advisors LLC raised its position in shares of 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 during the period. Finally, Mason Street Advisors LLC raised its position in shares of Allegheny Technologies by 1.1% in the first quarter. Mason Street Advisors LLC now owns 51,383 shares of the basic materials company’s stock worth $923,000 after buying an additional 544 shares during the period. Institutional investors own 96.61% of the company’s stock.

Shares of Allegheny Technologies Incorporated (NYSE ATI) traded down 0.78% during trading on Friday, reaching $17.89. 1,218,573 shares of the company were exchanged. The stock’s market capitalization is $1.95 billion. The stock has a 50-day moving average price of $17.83 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 the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The business had revenue of $880.20 million during the quarter, compared to analysts’ expectations of $874.95 million. Allegheny Technologies had a negative net margin of 14.89% and a positive return on equity of 0.08%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.21) EPS. Analysts forecast that Allegheny Technologies Incorporated will post ($1.00) EPS for the current year.

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A number of equities analysts have recently commented on ATI shares. BidaskClub lowered shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Zacks Investment Research lowered shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Berenberg Bank upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating and lifted their price target for the stock from $16.10 to $17.20 in a report on Monday, April 24th. Cowen and Company lifted their price target on shares of Allegheny Technologies from $15.00 to $18.00 and gave the stock a “market perform” rating in a report on Monday, April 17th. Finally, J P Morgan Chase & Co upgraded shares of 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 report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $19.65.

About Allegheny Technologies

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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