Oppenheimer Asset Management Inc. reduced its position in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 50.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,132 shares of the basic materials company’s stock after selling 7,389 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Allegheny Technologies were worth $180,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ATI. FinTrust Capital Advisors LLC bought a new position in Allegheny Technologies in the first quarter worth about $64,000. Nisa Investment Advisors LLC boosted its position in Allegheny Technologies by 35.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,830 shares of the basic materials company’s stock valued at $97,000 after buying an additional 1,000 shares during the period. Advisors Asset Management Inc. boosted its position in Allegheny Technologies by 278.7% in the 1st quarter. Advisors Asset Management Inc. now owns 4,154 shares of the basic materials company’s stock valued at $106,000 after buying an additional 3,057 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in shares of Allegheny Technologies in the 1st quarter worth approximately $132,000. Finally, Stephens Inc. AR bought a new position in shares of Allegheny Technologies during the 1st quarter worth approximately $202,000.

NYSE:ATI traded up $0.26 on Friday, reaching $21.71. The stock had a trading volume of 11,758 shares, compared to its average volume of 1,665,630. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.08 and a beta of 2.28. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.98 and a quick ratio of 1.37. The firm’s fifty day moving average is $19.62 and its two-hundred day moving average is $23.66. Allegheny Technologies Incorporated has a 12-month low of $17.03 and a 12-month high of $30.18.

Allegheny Technologies (NYSE:ATI) last released its earnings results on Tuesday, July 23rd. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.05. Allegheny Technologies had a net margin of 4.39% and a return on equity of 7.83%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned $0.52 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts forecast that Allegheny Technologies Incorporated will post 1.3 earnings per share for the current fiscal year.

In other news, CMO Kevin B. Kramer bought 2,500 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $17.68 per share, with a total value of $44,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Elliot S. Davis bought 2,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $17.53 per share, for a total transaction of $35,060.00. Following the completion of the acquisition, the senior vice president now owns 6,530 shares of the company’s stock, valued at $114,470.90. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 12,400 shares of company stock valued at $222,680. Corporate insiders own 1.06% of the company’s stock.

A number of analysts have recently weighed in on the stock. Cowen reiterated a “buy” rating and issued a $32.00 price objective on shares of Allegheny Technologies in a research note on Monday, August 12th. TheStreet downgraded shares of Allegheny Technologies from a “b-” rating to a “c+” rating in a report on Thursday, August 22nd. Longbow Research downgraded shares of Allegheny Technologies from a “buy” rating to a “neutral” rating and set a $24.45 price target on the stock. in a research note on Thursday, July 18th. Barclays restated a “buy” rating and set a $31.00 price objective on shares of Allegheny Technologies in a research report on Wednesday, July 31st. Finally, ValuEngine cut shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Allegheny Technologies currently has a consensus rating of “Hold” and a consensus target price of $29.72.

About Allegheny Technologies

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as 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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