Oppenheimer & Co. Inc. trimmed its holdings in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 30.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,889 shares of the basic materials company’s stock after selling 10,000 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Allegheny Technologies were worth $547,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. LMR Partners LLP acquired a new position in Allegheny Technologies during the second quarter worth $493,000. Neuberger Berman Group LLC increased its position in Allegheny Technologies by 50.3% during the second quarter. Neuberger Berman Group LLC now owns 1,472,402 shares of the basic materials company’s stock worth $25,046,000 after buying an additional 492,540 shares during the last quarter. Verition Fund Management LLC acquired a new position in Allegheny Technologies during the second quarter worth $281,000. BNP Paribas Arbitrage SA increased its position in Allegheny Technologies by 110.5% during the second quarter. BNP Paribas Arbitrage SA now owns 153,331 shares of the basic materials company’s stock worth $2,608,000 after buying an additional 80,478 shares during the last quarter. Finally, Alpha Windward LLC acquired a new position in Allegheny Technologies during the third quarter worth $595,000.

Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. KeyCorp reaffirmed a “hold” rating on shares of Allegheny Technologies in a research report on Thursday, November 16th. Longbow Research reaffirmed a “buy” rating and issued a $24.00 price target on shares of Allegheny Technologies in a research report on Wednesday, August 23rd. Cowen reaffirmed a “hold” rating and issued a $18.00 price target on shares of Allegheny Technologies in a research report on Thursday, October 12th. Finally, Berenberg Bank set a $17.00 price target on Allegheny Technologies and gave the company a “hold” rating in a research report on Thursday, October 19th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Allegheny Technologies currently has an average rating of “Hold” and an average price target of $20.57.

Shares of Allegheny Technologies Incorporated (NYSE:ATI) opened at $22.69 on Friday. The stock has a market capitalization of $2,478.81, a PE ratio of 162.64 and a beta of 2.39. Allegheny Technologies Incorporated has a 1 year low of $14.54 and a 1 year high of $26.59. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.68 and a quick ratio of 1.04.

Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, October 24th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.07). The company had revenue of $869.10 million for the quarter, compared to the consensus estimate of $866.94 million. Allegheny Technologies had a positive return on equity of 1.09% and a negative net margin of 2.45%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business posted ($0.21) earnings per share. sell-side analysts predict that Allegheny Technologies Incorporated will post 0.32 EPS for the current year.

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About Allegheny Technologies

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.

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

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