IndexIQ Advisors LLC lifted its holdings in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 752.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,834 shares of the basic materials company’s stock after purchasing an additional 11,329 shares during the period. IndexIQ Advisors LLC’s holdings in Allegheny Technologies were worth $307,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Frontier Capital Management Co. LLC boosted its position in shares of Allegheny Technologies by 7.0% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 5,782,970 shares of the basic materials company’s stock valued at $138,213,000 after purchasing an additional 377,915 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its holdings in Allegheny Technologies by 5.9% in the third quarter. Bbva Compass Bancshares Inc. now owns 45,239 shares of the basic materials company’s stock worth $1,082,000 after acquiring an additional 2,530 shares in the last quarter. Emerald Mutual Fund Advisers Trust bought a new position in Allegheny Technologies in the third quarter worth approximately $1,866,000. Emerald Advisers Inc. PA bought a new position in Allegheny Technologies in the third quarter worth approximately $7,737,000. Finally, Mesirow Financial Investment Management Equity Management bought a new position in Allegheny Technologies in the third quarter worth approximately $15,660,000.
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Several research analysts have issued reports on ATI shares. J P Morgan Chase & Co upgraded Allegheny Technologies from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $14.50 to $19.00 in a report on Wednesday, July 26th. lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Monday, August 7th. reiterated a “buy” rating and issued a $24.00 price target on shares of Allegheny Technologies in a report on Wednesday, August 23rd. Finally, Bank of America Corporation upgraded Allegheny Technologies from an “underperform” rating to a “buy” rating and increased their price target for the stock from $16.00 to $24.00 in a report on Monday, September 11th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $20.57.
Shares of Allegheny Technologies Incorporated (NYSE ATI) opened at $21.63 on Wednesday. The company has a market capitalization of $2,442.89, a P/E ratio of 160.29 and a beta of 2.44. Allegheny Technologies Incorporated has a 52 week low of $14.54 and a 52 week high of $26.59. The company has a quick ratio of 1.04, a current ratio of 2.68 and a debt-to-equity ratio of 1.30.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings data on Tuesday, October 24th. The basic materials company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The firm had revenue of $869.10 million during the quarter, compared to the consensus estimate of $866.94 million. Allegheny Technologies had a positive return on equity of 1.09% and a negative net margin of 2.45%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.21) earnings per share. equities research analysts predict that Allegheny Technologies Incorporated will post 0.32 EPS for the current year.
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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