Allegheny Technologies Inc. (ATI) Stake Lowered by Victory Capital Management Inc.
Victory Capital Management Inc. decreased its position in Allegheny Technologies Inc. (NYSE:ATI) by 6.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,502,404 shares of the company’s stock after selling 169,388 shares during the period. Victory Capital Management Inc. owned about 2.30% of Allegheny Technologies worth $45,218,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Advisor Partners LLC acquired a new position in Allegheny Technologies during the second quarter worth $130,000. Private Advisor Group LLC acquired a new position in Allegheny Technologies during the second quarter worth $142,000. Bank of Montreal Can raised its position in Allegheny Technologies by 43.3% in the third quarter. Bank of Montreal Can now owns 8,341 shares of the company’s stock worth $150,000 after buying an additional 2,522 shares during the last quarter. Bessemer Group Inc. raised its position in Allegheny Technologies by 22.5% in the second quarter. Bessemer Group Inc. now owns 13,755 shares of the company’s stock worth $175,000 after buying an additional 2,530 shares during the last quarter. Finally, HRT Financial LLC acquired a new position in Allegheny Technologies during the second quarter worth $177,000. 91.88% of the stock is currently owned by institutional investors and hedge funds.
Allegheny Technologies Inc. (NYSE:ATI) traded up 3.45% during mid-day trading on Wednesday, hitting $17.07. The stock had a trading volume of 376,182 shares. The company’s market cap is $1.86 billion. The firm’s 50-day moving average is $16.13 and its 200 day moving average is $15.59. Allegheny Technologies Inc. has a 12 month low of $7.08 and a 12 month high of $18.67.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, October 25th. The company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.11. The business had revenue of $771 million for the quarter, compared to analysts’ expectations of $813.02 million. Allegheny Technologies had a negative net margin of 28.52% and a negative return on equity of 8.38%. The business’s revenue was down 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.29) earnings per share. Equities analysts anticipate that Allegheny Technologies Inc. will post ($1.00) EPS for the current fiscal year.
ATI has been the subject of several recent research reports. Buckingham Research restated a “buy” rating and issued a $21.00 price target on shares of Allegheny Technologies in a research note on Monday, October 10th. Seaport Global Securities initiated coverage on Allegheny Technologies in a research note on Friday, September 9th. They issued a “buy” rating and a $21.00 price target for the company. Deutsche Bank AG upgraded Allegheny Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $15.00 to $20.00 in a research note on Monday, August 29th. Finally, Berenberg Bank set a $14.00 price target on Allegheny Technologies and gave the company a “hold” rating in a research note on Monday, October 24th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $19.78.
Allegheny Technologies Company Profile
Allegheny Technologies Incorporated (ATI) is a specialty materials and components producer. The Company operates through two business segments: High Performance Materials & Components and Flat Rolled Products. ATI’s products include titanium and titanium alloys, nickel-based alloys and specialty steels, precision forgings, castings and machined components, zirconium and related alloys, precision and engineered stainless steel strip, and grain-oriented electrical steel.
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