Posted by admin on Jun 23rd, 2022
Maryland State Retirement & Pension System raised its position in shares of Allegheny Technologies Incorporated (NYSE:ATI – Get Rating) by 1.3% in the first quarter, Holdings Channel.com reports. The fund owned 51,027 shares of the basic materials company’s stock after acquiring an additional 647 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Allegheny Technologies were worth $1,370,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in ATI. Capital International Investors raised its holdings in shares of Allegheny Technologies by 9.8% during the fourth quarter. Capital International Investors now owns 12,176,850 shares of the basic materials company’s stock valued at $193,977,000 after acquiring an additional 1,089,416 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Allegheny Technologies by 17.3% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,540,724 shares of the basic materials company’s stock valued at $72,334,000 after acquiring an additional 669,769 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Allegheny Technologies by 31.7% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,855,576 shares of the basic materials company’s stock valued at $29,559,000 after acquiring an additional 446,454 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in shares of Allegheny Technologies by 934.1% in the third quarter. Voloridge Investment Management LLC now owns 479,089 shares of the basic materials company’s stock valued at $7,967,000 after purchasing an additional 432,758 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in shares of Allegheny Technologies by 194.5% in the fourth quarter. Squarepoint Ops LLC now owns 442,188 shares of the basic materials company’s stock valued at $7,044,000 after purchasing an additional 292,031 shares during the last quarter.
NYSE:ATI opened at $22.65 on Thursday. The firm has a market cap of $2.81 billion, a PE ratio of -566.25 and a beta of 1.28. The stock has a fifty day moving average price of $26.59 and a 200 day moving average price of $23.56. Allegheny Technologies Incorporated has a 12-month low of $13.85 and a 12-month high of $30.74. The company has a current ratio of 2.61, a quick ratio of 1.25 and a debt-to-equity ratio of 2.15.
Allegheny Technologies (NYSE:ATI – Get Rating) last released its earnings results on Wednesday, May 4th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.18. The firm had revenue of $834.10 million during the quarter, compared to analyst estimates of $748.04 million. Allegheny Technologies had a return on equity of 11.17% and a net margin of 0.02%. Allegheny Technologies’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business posted ($0.06) earnings per share. Equities analysts forecast that Allegheny Technologies Incorporated will post 1.47 EPS for the current year.
In other Allegheny Technologies news, CMO Kevin B. Kramer sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the chief marketing officer now directly owns 160,338 shares in the company, valued at $4,810,140. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.82% of the stock is owned by company insiders.
Several equities research analysts recently commented on the company. StockNews.com assumed coverage on Allegheny Technologies in a report on Thursday, March 31st. They issued a “hold” rating for the company. KeyCorp increased their price objective on Allegheny Technologies from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, April 4th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Allegheny Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $26.13.
Allegheny Technologies Profile (Get Rating)
Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.
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