Jane Street Group LLC decreased its position in Allegheny Technologies Incorporated (NYSE:ATI) by 86.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,274 shares of the basic materials company’s stock after selling 67,586 shares during the period. Jane Street Group LLC’s holdings in Allegheny Technologies were worth $224,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ATI. Oregon Public Employees Retirement Fund boosted its holdings in shares of Allegheny Technologies by 2,107.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,093,659 shares of the basic materials company’s stock valued at $50,000 after purchasing an additional 1,044,119 shares during the period. Rothschild & Co. Asset Management US Inc. purchased a new stake in Allegheny Technologies during the fourth quarter worth $22,239,000. Dimensional Fund Advisors LP lifted its holdings 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 worth $96,329,000 after buying an additional 591,706 shares during the period. Boston Partners lifted its holdings in Allegheny Technologies by 130.8% during the fourth quarter. Boston Partners now owns 781,500 shares of the basic materials company’s stock worth $17,013,000 after buying an additional 442,920 shares during the period. Finally, Stifel Financial Corp lifted its holdings in Allegheny Technologies by 312.1% during the fourth quarter. Stifel Financial Corp now owns 554,828 shares of the basic materials company’s stock worth $12,119,000 after buying an additional 420,182 shares during the period.
A number of research firms have weighed in on ATI. Buckingham Research lowered their target price on Allegheny Technologies from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday. Macquarie lowered Allegheny Technologies from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $34.00 to $28.00 in a report on Friday, April 12th. Zacks Investment Research upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Finally, ValuEngine upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $32.91.
Allegheny Technologies (NYSE:ATI) last posted its earnings results on Tuesday, January 22nd. The basic materials company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $991.88 million. Allegheny Technologies had a return on equity of 10.28% and a net margin of 5.50%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. Analysts anticipate that Allegheny Technologies Incorporated will post 1.76 earnings per share for the current fiscal year.
In other Allegheny Technologies news, Director Barabara S. Jeremiah sold 7,500 shares of the stock in a transaction dated Thursday, January 24th. The stock was sold at an average price of $25.61, for a total transaction of $192,075.00. Following the sale, the director now directly owns 33,833 shares of the company’s stock, valued at approximately $866,463.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard J. Harshman sold 20,208 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $29.12, for a total value of $588,456.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,628 shares of company stock worth $1,301,542. Insiders own 1.06% of the company’s stock.
Allegheny Technologies Company Profile
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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