Sowell Financial Services LLC Purchases 479 Shares of Allegheny Technologies Incorporated (NYSE:ATI)

Sowell Financial Services LLC increased its position in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 60.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,273 shares of the basic materials company’s stock after purchasing an additional 479 shares during the period. Sowell Financial Services LLC’s holdings in Allegheny Technologies were worth $31,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in shares of Allegheny Technologies by 310.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,605 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 5,750 shares during the period. Wealthcare Advisory Partners LLC bought a new stake in shares of Allegheny Technologies during the first quarter valued at approximately $180,000. Fox Run Management L.L.C. bought a new stake in shares of Allegheny Technologies during the fourth quarter valued at approximately $182,000. Public Employees Retirement System of Ohio increased its position in shares of Allegheny Technologies by 8.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 11,307 shares of the basic materials company’s stock valued at $190,000 after purchasing an additional 869 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of Allegheny Technologies during the fourth quarter valued at approximately $193,000.

Allegheny Technologies stock opened at $23.69 on Friday. The company has a current ratio of 3.04, a quick ratio of 1.52 and a debt-to-equity ratio of 2.62. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of -1.87 and a beta of 1.91. The business has a fifty day simple moving average of $23.24. Allegheny Technologies Incorporated has a 52 week low of $8.04 and a 52 week high of $25.03.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings data on Wednesday, April 28th. The basic materials company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.18. The company had revenue of $693.00 million for the quarter, compared to analyst estimates of $650.41 million. Allegheny Technologies had a negative return on equity of 8.08% and a negative net margin of 58.90%. The business’s revenue was down 27.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 earnings per share. As a group, equities analysts forecast that Allegheny Technologies Incorporated will post -0.18 EPS for the current year.

In other Allegheny Technologies news, CMO Kevin B. Kramer sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 1st. The stock was sold at an average price of $25.00, for a total value of $250,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.76% of the stock is currently owned by insiders.

ATI has been the topic of a number of research reports. Barclays upgraded Allegheny Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $16.00 to $26.00 in a research report on Tuesday, March 16th. KeyCorp boosted their price target on Allegheny Technologies from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, May 4th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $21.83.

About Allegheny Technologies

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates in two segments, High Performance Materials & Components and Advanced Alloys & Solutions. The company 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 to the aerospace and defense, medical, oil and gas, and electrical energy markets.

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

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