ICM Asset Management Inc. WA raised its position in shares of Allegheny Technologies Inc. (NYSE:ATI) by 110.9% during the second quarter, Holdings Channel reports. The institutional investor owned 81,590 shares of the company’s stock after buying an additional 42,910 shares during the period. ICM Asset Management Inc. WA’s holdings in Allegheny Technologies were worth $1,040,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Commonwealth Equity Services Inc acquired a new stake in shares of Allegheny Technologies during the first quarter worth $320,000. Aperio Group LLC raised 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 in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Allegheny Technologies by 26.1% in the first quarter. TIAA CREF Investment Management LLC now owns 390,260 shares of the company’s stock worth $6,361,000 after buying an additional 80,685 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of Allegheny Technologies by 81.3% in the first quarter. Teachers Advisors Inc. now owns 167,310 shares of the company’s stock worth $2,727,000 after buying an additional 75,032 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Allegheny Technologies by 17.1% in the first quarter. BlackRock Inc. now owns 53,735 shares of the company’s stock worth $876,000 after buying an additional 7,855 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.
Allegheny Technologies Inc. (NYSE:ATI) traded up 2.13% during midday trading on Monday, reaching $16.79. The company had a trading volume of 1,015,338 shares. Allegheny Technologies Inc. has a 52-week low of $7.08 and a 52-week high of $18.67. The company’s 50 day moving average is $17.21 and its 200-day moving average is $15.60. The company’s market capitalization is $1.83 billion.
Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings results on Tuesday, July 26th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.19. Allegheny Technologies had a negative net margin of 15.65% and a negative return on equity of 7.87%. The company had revenue of $810.50 million for the quarter, compared to analyst estimates of $792.11 million. During the same quarter last year, the business earned ($0.15) earnings per share. Allegheny Technologies’s revenue was down 20.7% compared to the same quarter last year. Equities analysts expect that Allegheny Technologies Inc. will post ($0.92) earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on ATI shares. Berenberg Bank reaffirmed a “hold” rating and issued a $13.90 price objective on shares of Allegheny Technologies in a report on Wednesday, July 27th. Cowen and Company raised Allegheny Technologies from an “underperform” rating to a “market perform” rating in a report on Wednesday, July 27th. Deutsche Bank AG raised Allegheny Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $15.00 to $20.00 in a report on Monday, August 29th. Seaport Global Securities started coverage on Allegheny Technologies in a report on Friday, September 9th. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, Buckingham Research reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Allegheny Technologies in a report on Monday, October 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $20.10.
About Allegheny Technologies
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.
Want to see what other hedge funds are holding ATI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegheny Technologies Inc. (NYSE:ATI).
Receive News & Ratings for Allegheny Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegheny Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.