Oppenheimer & Co. Inc. Grows Holdings in Allegheny Technologies (ATI)

Oppenheimer & Co. Inc. raised its position in shares of Allegheny Technologies (NYSE:ATI) by 37.0% during the first quarter, HoldingsChannel reports. The firm owned 30,945 shares of the basic materials company’s stock after purchasing an additional 8,356 shares during the period. Oppenheimer & Co. Inc.’s holdings in Allegheny Technologies were worth $733,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ATI. Frontier Capital Management Co. LLC grew its stake in shares of Allegheny Technologies by 35.7% during the fourth quarter. Frontier Capital Management Co. LLC now owns 7,848,107 shares of the basic materials company’s stock valued at $189,453,000 after buying an additional 2,065,137 shares during the last quarter. Emerald Advisers Inc. PA grew its stake in shares of Allegheny Technologies by 190.9% during the fourth quarter. Emerald Advisers Inc. PA now owns 941,793 shares of the basic materials company’s stock valued at $22,735,000 after buying an additional 618,060 shares during the last quarter. Millennium Management LLC grew its stake in shares of Allegheny Technologies by 15.9% during the fourth quarter. Millennium Management LLC now owns 3,177,259 shares of the basic materials company’s stock valued at $76,699,000 after buying an additional 436,832 shares during the last quarter. Keeley Teton Advisors LLC bought a new position in shares of Allegheny Technologies during the fourth quarter valued at about $9,748,000. Finally, Geode Capital Management LLC grew its stake in shares of Allegheny Technologies by 17.2% during the fourth quarter. Geode Capital Management LLC now owns 1,043,800 shares of the basic materials company’s stock valued at $25,197,000 after buying an additional 153,086 shares during the last quarter.

Allegheny Technologies opened at $28.40 on Monday, according to MarketBeat Ratings. The company has a current ratio of 2.70, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $3.57 billion, a P/E ratio of 46.56 and a beta of 2.40. Allegheny Technologies has a 1 year low of $14.54 and a 1 year high of $30.25.

Allegheny Technologies (NYSE:ATI) last posted its earnings results on Tuesday, April 24th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.08. The company had revenue of $979.00 million for the quarter, compared to analysts’ expectations of $932.86 million. Allegheny Technologies had a positive return on equity of 4.75% and a negative net margin of 1.41%. Allegheny Technologies’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm earned $0.16 earnings per share. analysts anticipate that Allegheny Technologies will post 1.36 EPS for the current fiscal year.

A number of research analysts have recently issued reports on the company. JPMorgan Chase raised their price objective on Allegheny Technologies from $18.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Bank of America reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Allegheny Technologies in a research note on Wednesday, January 24th. They noted that the move was a valuation call. Zacks Investment Research cut Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Monday, January 15th. Buckingham Research raised their price objective on Allegheny Technologies from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, Cowen reaffirmed a “buy” rating and set a $32.00 price objective on shares of Allegheny Technologies in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $29.56.

In related news, VP Karl D. Schwartz sold 1,000 shares of the firm’s stock in a transaction dated Thursday, April 26th. The stock was sold at an average price of $27.12, for a total value of $27,120.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John D. Sims sold 30,000 shares of the firm’s stock in a transaction dated Thursday, April 26th. The stock was sold at an average price of $27.34, for a total value of $820,200.00. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Allegheny Technologies 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, converts, and distributes a range of 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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Institutional Ownership by Quarter for Allegheny Technologies (NYSE:ATI)

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