Pacad Investment Ltd. bought a new stake in shares of Allegheny Technologies Incorporated (NYSE:ATI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,000 shares of the basic materials company’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ATI. Nisa Investment Advisors LLC boosted its stake in shares of Allegheny Technologies by 63.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,380 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 2,480 shares in the last quarter. Neuburgh Advisers LLC boosted its stake in shares of Allegheny Technologies by 1.1% during the 1st quarter. Neuburgh Advisers LLC now owns 6,528 shares of the basic materials company’s stock valued at $117,000 after purchasing an additional 68 shares in the last quarter. Financial Architects Inc boosted its stake in shares of Allegheny Technologies by 180.0% during the 2nd quarter. Financial Architects Inc now owns 7,000 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 4,500 shares in the last quarter. Creative Planning boosted its stake in shares of Allegheny Technologies by 2,619.9% during the 2nd quarter. Creative Planning now owns 7,534 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 7,257 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its stake in shares of Allegheny Technologies by 24.1% during the 2nd quarter. LS Investment Advisors LLC now owns 8,982 shares of the basic materials company’s stock valued at $153,000 after purchasing an additional 1,745 shares in the last quarter. 96.61% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Allegheny Technologies Incorporated (NYSE ATI) opened at 22.16 on Tuesday. Allegheny Technologies Incorporated has a 1-year low of $13.15 and a 1-year high of $23.69. The company’s market cap is $2.41 billion. The company’s 50-day moving average is $19.32 and its 200 day moving average is $17.74.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The company had revenue of $880.20 million for the quarter, compared to the consensus estimate of $874.95 million. Allegheny Technologies had a negative net margin of 14.89% and a positive return on equity of 0.08%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.21) EPS. Equities analysts anticipate that Allegheny Technologies Incorporated will post ($1.00) EPS for the current year.

A number of equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Zacks Investment Research lowered shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Longbow Research reaffirmed a “buy” rating and set a $24.00 target price on shares of Allegheny Technologies in a research note on Wednesday, August 23rd. J P Morgan Chase & Co raised shares of Allegheny Technologies from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $14.50 to $19.00 in a research note on Wednesday, July 26th. Finally, Bank of America Corporation raised shares of Allegheny Technologies from an “underperform” rating to a “buy” rating and lifted their target price for the company from $16.00 to $24.00 in a research note on Monday. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $20.65.

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.

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

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