Xact Kapitalforvaltning AB Takes $378,000 Position in Allegheny Technologies Incorporated (NYSE:ATI)

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Xact Kapitalforvaltning AB bought a new stake in Allegheny Technologies Incorporated (NYSE:ATI) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 14,800 shares of the basic materials company’s stock, valued at approximately $378,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Shine Investment Advisory Services Inc. grew its stake in Allegheny Technologies by 123.5% in the first quarter. Shine Investment Advisory Services Inc. now owns 1,133 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 626 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Allegheny Technologies by 283.3% in the first quarter. Quadrant Capital Group LLC now owns 1,265 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 935 shares in the last quarter. Pearl River Capital LLC bought a new position in Allegheny Technologies in the fourth quarter valued at approximately $48,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Allegheny Technologies by 2,107.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,093,659 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 1,044,119 shares during the period. Finally, Whittier Trust Co. bought a new position in shares of Allegheny Technologies during the 4th quarter worth approximately $59,000.

Several brokerages have recently commented on ATI. Zacks Investment Research upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Buckingham Research set a $45.00 price target on Allegheny Technologies and gave the stock a “buy” rating in a report on Monday, April 8th. ValuEngine raised Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Macquarie initiated coverage on Allegheny Technologies in a report on Thursday, February 14th. They set an “outperform” rating and a $27.84 price target for the company. Finally, KeyCorp lifted their price target on Allegheny Technologies from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.20.

NYSE ATI traded down $0.44 during midday trading on Friday, hitting $23.88. The company had a trading volume of 24,208 shares, compared to its average volume of 1,625,377. The stock has a market capitalization of $3.02 billion, a PE ratio of 15.93, a P/E/G ratio of 1.07 and a beta of 2.32. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.87 and a quick ratio of 1.22. Allegheny Technologies Incorporated has a twelve month low of $20.84 and a twelve month high of $30.18.

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 Thomson Reuters’ consensus estimate of $0.12. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $991.18 million. Allegheny Technologies had a return on equity of 8.79% and a net margin of 4.41%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. On average, equities analysts expect that Allegheny Technologies Incorporated will post 1.49 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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Institutional Ownership by Quarter for Allegheny Technologies (NYSE:ATI)

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