Sei Investments Co. increased its position in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 82.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 374,519 shares of the basic materials company’s stock after buying an additional 169,767 shares during the period. Sei Investments Co. owned 0.35% of Allegheny Technologies worth $6,726,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake 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 last quarter. Bank of Montreal Can increased its stake in shares of Allegheny Technologies by 14.4% in the first quarter. Bank of Montreal Can now owns 10,142 shares of the basic materials company’s stock worth $182,000 after buying an additional 1,276 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Allegheny Technologies by 14.9% in the fourth quarter. Bessemer Group Inc. now owns 13,165 shares of the basic materials company’s stock worth $209,000 after buying an additional 1,705 shares during the last quarter. Glassman Wealth Services bought a new stake in shares of Allegheny Technologies during the fourth quarter worth $227,000. Finally, New England Research & Management Inc. bought a new stake in shares of Allegheny Technologies during the first quarter worth $270,000. 97.20% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Allegheny Technologies (NYSE:ATI)

Allegheny Technologies Incorporated (NYSE:ATI) traded down 0.99% during midday trading on Thursday, reaching $15.99. The company’s stock had a trading volume of 672,923 shares. Allegheny Technologies Incorporated has a 1-year low of $11.06 and a 1-year high of $23.69. The firm’s market capitalization is $1.74 billion. The stock’s 50-day moving average price is $17.02 and its 200 day moving average price is $17.81.

Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, April 25th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The firm had revenue of $865.90 million during the quarter, compared to analysts’ expectations of $843.39 million. Allegheny Technologies had a negative return on equity of 6.15% and a negative net margin of 20.45%. The business’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.94) EPS. Equities analysts anticipate that Allegheny Technologies Incorporated will post ($1.00) EPS for the current fiscal year.

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A number of equities research analysts recently weighed in on the company. Deutsche Bank AG dropped their price objective on Allegheny Technologies from $21.50 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, March 21st. Berenberg Bank downgraded Allegheny Technologies from a “hold” rating to a “sell” rating and set a $16.10 price objective on the stock. in a research report on Thursday, February 2nd. Cowen and Company raised their price objective on Allegheny Technologies from $15.00 to $18.00 and gave the company a “market perform” rating in a research report on Monday, April 17th. Longbow Research assumed coverage on Allegheny Technologies in a research report on Tuesday, March 21st. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Seaport Global Securities raised Allegheny Technologies from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $24.00 to $22.00 in a research report on Thursday, March 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $19.74.

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.

12 Month Chart for NYSE:ATI

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