Posted by admin on Jul 1st, 2022

State of Alaska Department of Revenue lowered its position in Allegheny Technologies Incorporated (NYSE:ATI – Get Rating) by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,768 shares of the basic materials company’s stock after selling 1,325 shares during the period. State of Alaska Department of Revenue’s holdings in Allegheny Technologies were worth $2,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Centre Asset Management LLC lifted its stake in Allegheny Technologies by 57.6% in the first quarter. Centre Asset Management LLC now owns 242,934 shares of the basic materials company’s stock worth $6,520,000 after purchasing an additional 88,834 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in Allegheny Technologies by 1.3% in the first quarter. Maryland State Retirement & Pension System now owns 51,027 shares of the basic materials company’s stock worth $1,370,000 after purchasing an additional 647 shares during the last quarter. Everence Capital Management Inc. bought a new stake in Allegheny Technologies in the first quarter worth about $356,000. American Trust bought a new stake in Allegheny Technologies in the fourth quarter worth about $223,000. Finally, Barclays PLC lifted its stake in Allegheny Technologies by 71.3% in the fourth quarter. Barclays PLC now owns 177,944 shares of the basic materials company’s stock worth $2,835,000 after purchasing an additional 74,078 shares during the last quarter.

Shares of NYSE:ATI opened at $22.71 on Friday. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -567.75 and a beta of 1.28. Allegheny Technologies Incorporated has a 52 week low of $13.85 and a 52 week high of $30.74. The company has a quick ratio of 1.25, a current ratio of 2.61 and a debt-to-equity ratio of 2.15. The firm has a 50 day moving average of $25.74 and a 200 day moving average of $23.88.

Allegheny Technologies (NYSE:ATI – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The basic materials company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.18. The company had revenue of $834.10 million during the quarter, compared to the consensus estimate of $748.04 million. Allegheny Technologies had a net margin of 0.02% and a return on equity of 11.17%. Allegheny Technologies’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. On average, sell-side analysts expect that Allegheny Technologies Incorporated will post 1.53 EPS for the current year.

In related news, CMO Kevin B. Kramer sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the chief marketing officer now owns 160,338 shares of the company’s stock, valued at $4,810,140. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.82% of the company’s stock.

Several analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Allegheny Technologies in a research note on Thursday, March 31st. They set a “hold” rating for the company. KeyCorp lifted their price target on shares of Allegheny Technologies from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, April 4th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.13.

Allegheny Technologies Profile (Get Rating)

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.

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