Moors & Cabot Inc. purchased a new position in shares of Allegheny Technologies Incorporated (NYSE:ATI) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 10,648 shares of the basic materials company’s stock, valued at approximately $272,000.
Other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC bought a new stake in shares of Allegheny Technologies during the first quarter worth $213,000. Quantamental Technologies LLC grew its stake in shares of Allegheny Technologies by 233.7% during the first quarter. Quantamental Technologies LLC now owns 6,257 shares of the basic materials company’s stock worth $160,000 after buying an additional 4,382 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Allegheny Technologies by 283.3% during the first quarter. Quadrant Capital Group LLC now owns 1,265 shares of the basic materials company’s stock worth $31,000 after buying an additional 935 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Allegheny Technologies by 9.2% during the first quarter. Bank of Montreal Can now owns 33,480 shares of the basic materials company’s stock worth $857,000 after buying an additional 2,810 shares during the last quarter. Finally, Private Capital Group LLC grew its stake in shares of Allegheny Technologies by 162.5% during the first quarter. Private Capital Group LLC now owns 3,538 shares of the basic materials company’s stock worth $90,000 after buying an additional 2,190 shares during the last quarter.
In other news, insider Richard J. Harshman sold 20,208 shares of the company’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $29.12, for a total transaction of $588,456.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 38,128 shares of company stock worth $1,109,467 in the last quarter. Company insiders own 1.06% of the company’s stock.
Several analysts recently weighed in on ATI shares. KeyCorp boosted their price objective on shares of Allegheny Technologies from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Macquarie cut shares of Allegheny Technologies from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $34.00 to $28.00 in a research note on Friday, April 12th. ValuEngine cut shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Buckingham Research reduced their price objective on shares of Allegheny Technologies from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Finally, Zacks Investment Research raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $31.91.
Shares of NYSE ATI opened at $22.69 on Wednesday. Allegheny Technologies Incorporated has a 1-year low of $20.84 and a 1-year high of $30.18. The stock has a market cap of $2.84 billion, a PE ratio of 15.03, a P/E/G ratio of 0.98 and a beta of 2.34. The company has a current ratio of 2.87, a quick ratio of 1.22 and a debt-to-equity ratio of 0.75.
Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. Allegheny Technologies had a net margin of 4.41% and a return on equity of 8.79%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $991.18 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Allegheny Technologies Incorporated will post 1.53 EPS for the current year.
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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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