Stifel Financial Corp raised its position in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 7.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 317,483 shares of the basic materials company’s stock after purchasing an additional 20,647 shares during the quarter. Stifel Financial Corp owned approximately 0.29% of Allegheny Technologies worth $5,412,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Allegheny Technologies by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 9,137,494 shares of the basic materials company’s stock valued at $155,430,000 after purchasing an additional 55,412 shares during the period. Iridian Asset Management LLC CT increased its position in Allegheny Technologies by 30.7% during the 2nd quarter. Iridian Asset Management LLC CT now owns 8,725,099 shares of the basic materials company’s stock valued at $148,414,000 after purchasing an additional 2,047,830 shares during the period. State Street Corp increased its position in Allegheny Technologies by 5.5% during the 1st quarter. State Street Corp now owns 5,869,035 shares of the basic materials company’s stock valued at $105,408,000 after purchasing an additional 307,747 shares during the period. Sasco Capital Inc. CT increased its position in Allegheny Technologies by 10.8% during the 2nd quarter. Sasco Capital Inc. CT now owns 5,464,354 shares of the basic materials company’s stock valued at $92,949,000 after purchasing an additional 531,155 shares during the period. Finally, Frontier Capital Management Co. LLC increased its position in Allegheny Technologies by 17.5% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 5,405,055 shares of the basic materials company’s stock valued at $91,940,000 after purchasing an additional 805,856 shares during the period. 96.61% of the stock is owned by institutional investors and hedge funds.

A number of analysts have weighed in on the stock. BidaskClub downgraded shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Zacks Investment Research downgraded shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Longbow Research reissued a “buy” rating and set a $24.00 target price on shares of Allegheny Technologies in a research report on Wednesday, August 23rd. J P Morgan Chase & Co raised shares of Allegheny Technologies from an “underweight” rating to a “neutral” rating and increased their target price for the company from $14.50 to $19.00 in a research report on Wednesday, July 26th. Finally, Bank of America Corporation raised shares of Allegheny Technologies from an “underperform” rating to a “buy” rating and increased their target price for the company from $16.00 to $24.00 in a research report on Monday, September 11th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Allegheny Technologies presently has an average rating of “Hold” and an average target price of $20.65.

COPYRIGHT VIOLATION NOTICE: “Allegheny Technologies Incorporated (ATI) Holdings Increased by Stifel Financial Corp” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another publication, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/10/08/allegheny-technologies-incorporated-ati-holdings-increased-by-stifel-financial-corp.html.

Shares of Allegheny Technologies Incorporated (NYSE ATI) opened at 24.67 on Friday. Allegheny Technologies Incorporated has a 52-week low of $13.15 and a 52-week high of $25.51. The firm’s 50-day moving average is $22.14 and its 200-day moving average is $18.49. The firm’s market cap is $2.69 billion.

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

Allegheny Technologies 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)

Receive News & Stock Ratings for Allegheny Technologies Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegheny Technologies Incorporated and related stocks with our FREE daily email newsletter.