Stevens Capital Management LP cut its stake in Allegheny Technologies Incorporated (NYSE:ATI) by 69.8% in the first quarter, HoldingsChannel.com reports. The firm owned 30,563 shares of the basic materials company’s stock after selling 70,707 shares during the quarter. Stevens Capital Management LP’s holdings in Allegheny Technologies were worth $781,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Capital Group LLC boosted its stake in shares of Allegheny Technologies by 336.2% during the 4th quarter. Private Capital Group LLC now owns 1,348 shares of the basic materials company’s stock worth $29,000 after buying an additional 1,039 shares during the last quarter. Shine Investment Advisory Services Inc. boosted its stake in shares of Allegheny Technologies by 123.5% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 1,133 shares of the basic materials company’s stock worth $29,000 after buying an additional 626 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Allegheny Technologies by 283.3% during the 1st quarter. Quadrant Capital Group LLC now owns 1,265 shares of the basic materials company’s stock worth $31,000 after buying an additional 935 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Allegheny Technologies during the 4th quarter worth about $41,000. Finally, Pearl River Capital LLC acquired a new position in shares of Allegheny Technologies during the 4th quarter worth about $48,000.
A number of research firms have recently commented on ATI. Zacks Investment Research upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Buckingham Research set a $45.00 price objective on shares of Allegheny Technologies and gave the stock a “buy” rating in a research note on Monday, April 8th. KeyCorp increased their price objective on shares of Allegheny Technologies from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. ValuEngine downgraded shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Finally, Macquarie began coverage on shares of Allegheny Technologies in a research note on Thursday, February 14th. They set an “outperform” rating and a $27.84 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Allegheny Technologies currently has an average rating of “Hold” and a consensus price target of $31.91.
Shares of NYSE:ATI opened at $22.69 on Thursday. Allegheny Technologies Incorporated has a 52-week low of $20.84 and a 52-week high of $30.18. The stock has a market capitalization of $2.84 billion, a P/E ratio of 15.03, a PEG ratio of 0.98 and a beta of 2.34. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.87 and a quick ratio of 1.22.
Allegheny Technologies (NYSE:ATI) last issued its earnings results on Tuesday, April 23rd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $991.18 million. Allegheny Technologies had a net margin of 4.41% and a return on equity of 8.79%. Allegheny Technologies’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. On average, sell-side analysts expect that Allegheny Technologies Incorporated will post 1.53 EPS for the current year.
In other Allegheny Technologies news, insider Richard J. Harshman sold 10,780 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $29.13, for a total value of $314,021.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 38,128 shares of company stock worth $1,109,467. Insiders own 1.06% of the company’s stock.
About Allegheny Technologies
Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts.
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