New York State Teachers Retirement System held its position in shares of Allegheny Technologies Inc. (NYSE:ATI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 188,618 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Allegheny Technologies were worth $2,405,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Bessemer Group Inc. increased its position in shares of Allegheny Technologies by 4.1% in the first quarter. Bessemer Group Inc. now owns 11,225 shares of the company’s stock valued at $183,000 after buying an additional 445 shares during the period. Commonwealth Equity Services Inc purchased a new stake in shares of Allegheny Technologies during the first quarter worth approximately $320,000. BNP Paribas Arbitrage SA boosted its stake in shares of Allegheny Technologies by 4,509.7% in the second quarter. BNP Paribas Arbitrage SA now owns 54,210 shares of the company’s stock worth $691,000 after buying an additional 53,034 shares during the last quarter. Aperio Group LLC boosted its stake in shares of Allegheny Technologies by 3.6% in the first quarter. Aperio Group LLC now owns 44,122 shares of the company’s stock worth $719,000 after buying an additional 1,549 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Allegheny Technologies by 73.7% in the first quarter. Canada Pension Plan Investment Board now owns 45,500 shares of the company’s stock worth $742,000 after buying an additional 19,300 shares during the last quarter. Institutional investors own 95.60% of the company’s stock.
Shares of Allegheny Technologies Inc. (NYSE:ATI) traded down 1.26% on Friday, reaching $16.44. The company’s stock had a trading volume of 931,864 shares. Allegheny Technologies Inc. has a 1-year low of $7.08 and a 1-year high of $18.67. The stock’s market capitalization is $1.79 billion. The company has a 50 day moving average of $17.21 and a 200 day moving average of $15.60.
Allegheny Technologies (NYSE:ATI) last released its quarterly earnings results on Tuesday, July 26th. The company reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.19. Allegheny Technologies had a negative return on equity of 7.87% and a negative net margin of 15.65%. The business earned $810.50 million during the quarter, compared to analysts’ expectations of $792.11 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. The company’s quarterly revenue was down 20.7% compared to the same quarter last year. Equities research analysts expect that Allegheny Technologies Inc. will post ($0.92) earnings per share for the current fiscal year.
A number of brokerages have recently commented on ATI. Cowen and Company raised shares of Allegheny Technologies from an “underperform” rating to a “market perform” rating in a research note on Wednesday, July 27th. Berenberg Bank reaffirmed a “hold” rating and set a $13.90 price objective on shares of Allegheny Technologies in a research note on Wednesday, July 27th. Deutsche Bank AG raised shares of Allegheny Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $15.00 to $20.00 in a research note on Monday, August 29th. Seaport Global Securities began coverage on shares of Allegheny Technologies in a research note on Friday, September 9th. They set a “buy” rating and a $21.00 price objective on the stock. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of Allegheny Technologies in a research note on Friday, June 17th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Allegheny Technologies presently has a consensus rating of “Buy” and a consensus target price of $20.10.
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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