Allegheny Technologies Incorporated (NYSE:ATI) – Equities researchers at KeyCorp dropped their Q1 2019 EPS estimates for Allegheny Technologies in a note issued to investors on Tuesday, March 12th. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings of $0.25 per share for the quarter, down from their prior forecast of $0.27. KeyCorp also issued estimates for Allegheny Technologies’ FY2019 earnings at $1.79 EPS.
Allegheny Technologies (NYSE:ATI) last released its quarterly earnings results on Tuesday, January 22nd. The basic materials company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.03). Allegheny Technologies had a return on equity of 10.28% and a net margin of 5.50%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $991.88 million. During the same quarter in the prior year, the business posted $0.27 EPS. The company’s revenue was up 14.1% on a year-over-year basis.
Shares of ATI stock opened at $25.20 on Friday. Allegheny Technologies has a 1 year low of $20.84 and a 1 year high of $30.18. The company has a current ratio of 2.68, a quick ratio of 1.24 and a debt-to-equity ratio of 0.77. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 0.93 and a beta of 2.41.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc boosted its holdings in shares of Allegheny Technologies by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 11,346,496 shares of the basic materials company’s stock valued at $335,290,000 after buying an additional 187,817 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Allegheny Technologies by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 11,346,496 shares of the basic materials company’s stock worth $335,290,000 after acquiring an additional 187,817 shares in the last quarter. Capital Research Global Investors lifted its position in Allegheny Technologies by 142.7% during the third quarter. Capital Research Global Investors now owns 5,854,900 shares of the basic materials company’s stock valued at $173,012,000 after acquiring an additional 3,442,400 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Allegheny Technologies by 15.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,424,729 shares of the basic materials company’s stock valued at $96,329,000 after acquiring an additional 591,706 shares during the last quarter. Finally, Capital World Investors boosted its stake in Allegheny Technologies by 16.7% in the third quarter. Capital World Investors now owns 3,881,000 shares of the basic materials company’s stock valued at $114,684,000 after acquiring an additional 554,500 shares in the last quarter.
In related news, Director Barabara S. Jeremiah sold 7,500 shares of the company’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $25.61, for a total transaction of $192,075.00. Following the completion of the sale, the director now directly owns 33,833 shares in the company, valued at approximately $866,463.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard J. Harshman sold 10,780 shares of the firm’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $29.13, for a total value of $314,021.40. The disclosure for this sale can be found here. Insiders sold a total of 45,628 shares of company stock worth $1,301,542 in the last ninety days. 1.00% of the stock is currently owned by insiders.
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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