Emerald Acquisition Ltd. bought a new position in Allegheny Technologies Inc. (NYSE:ATI) during the second quarter, Holdings Channel reports. The fund bought 209,186 shares of the company’s stock, valued at approximately $2,668,000. Emerald Acquisition Ltd. owned about 0.19% of Allegheny Technologies at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in ATI. Mutual of America Capital Management LLC boosted its position in shares of Allegheny Technologies by 4.5% in the second quarter. Mutual of America Capital Management LLC now owns 80,302 shares of the company’s stock worth $1,024,000 after buying an additional 3,428 shares during the last quarter. State Treasurer State of Michigan boosted its position in shares of Allegheny Technologies by 0.5% in the second quarter. State Treasurer State of Michigan now owns 43,700 shares of the company’s stock worth $557,000 after buying an additional 200 shares during the last quarter. Suntrust Banks Inc. boosted its position in shares of Allegheny Technologies by 1.2% in the second quarter. Suntrust Banks Inc. now owns 18,487 shares of the company’s stock worth $235,000 after buying an additional 228 shares during the last quarter. Societe Generale acquired a new position in shares of Allegheny Technologies during the second quarter worth about $402,000. Finally, Quantitative Investment Management LLC acquired a new position in shares of Allegheny Technologies during the second quarter worth about $1,767,000. Institutional investors own 95.60% of the company’s stock.
Allegheny Technologies Inc. (NYSE:ATI) traded down 0.40% during trading on Monday, hitting $17.48. 2,911,076 shares of the stock were exchanged. The stock’s 50-day moving average price is $17.14 and its 200-day moving average price is $15.48. Allegheny Technologies Inc. has a 12-month low of $7.08 and a 12-month high of $19.10. The firm’s market cap is $1.90 billion.
Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, July 26th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.19. The firm earned $810.50 million during the quarter, compared to analyst estimates of $792.11 million. Allegheny Technologies had a negative net margin of 15.65% and a negative return on equity of 7.87%. Allegheny Technologies’s revenue was down 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.15) EPS. On average, equities analysts expect that Allegheny Technologies Inc. will post ($0.88) EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 18th were given a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.83%. Allegheny Technologies’s dividend payout ratio is presently -6.97%.
A number of equities analysts have issued reports on the stock. Seaport Global Securities assumed coverage on shares of Allegheny Technologies in a research report on Friday, September 9th. They set a “buy” rating and a $21.00 target price for the company. Deutsche Bank AG upgraded shares of Allegheny Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $15.00 to $20.00 in a research report on Monday, August 29th. Cowen and Company upgraded shares of Allegheny Technologies from an “underperform” rating to a “market perform” rating in a research report on Wednesday, July 27th. Berenberg Bank restated a “hold” rating and set a $13.90 target price on shares of Allegheny Technologies in a research report on Wednesday, July 27th. Finally, Bank of America Corp. restated a “buy” rating on shares of Allegheny Technologies in a research report on Friday, June 17th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $21.99.
Allegheny Technologies Company Profile
Allegheny Technologies Incorporated (ATI) is a specialty materials and components producer. The Company operates through two business segments: High Performance Materials & Components and Flat Rolled Products. ATI’s products include titanium and titanium alloys, nickel-based alloys and specialty steels, precision forgings, castings and machined components, zirconium and related alloys, precision and engineered stainless steel strip, and grain-oriented electrical steel.
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