Moody National Bank Trust Division purchased a new stake in shares of Allegheny Technologies Incorporated (NYSE:ATI) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 15,360 shares of the basic materials company’s stock, valued at approximately $454,000.
Several other institutional investors and hedge funds have also modified their holdings of ATI. Cubist Systematic Strategies LLC bought a new position in Allegheny Technologies during the first quarter valued at $126,000. MAI Capital Management bought a new position in Allegheny Technologies during the second quarter valued at $207,000. Commonwealth Equity Services LLC bought a new position in Allegheny Technologies during the second quarter valued at $219,000. First Hawaiian Bank bought a new position in Allegheny Technologies during the third quarter valued at $225,000. Finally, IndexIQ Advisors LLC grew its holdings in Allegheny Technologies by 57.4% during the second quarter. IndexIQ Advisors LLC now owns 9,311 shares of the basic materials company’s stock valued at $234,000 after purchasing an additional 3,397 shares during the period.
In other news, VP Karl D. Schwartz sold 1,000 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $27.10, for a total value of $27,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 3,000 shares of company stock valued at $79,790 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.
Allegheny Technologies stock opened at $27.74 on Tuesday. Allegheny Technologies Incorporated has a one year low of $21.01 and a one year high of $30.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.90 and a quick ratio of 1.21. The firm has a market capitalization of $3.46 billion, a PE ratio of 57.79 and a beta of 2.37.
Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, October 23rd. The basic materials company reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.02). Allegheny Technologies had a return on equity of 10.15% and a net margin of 4.67%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the business earned ($0.07) earnings per share. Allegheny Technologies’s revenue was up 17.4% on a year-over-year basis. Analysts anticipate that Allegheny Technologies Incorporated will post 1.61 EPS for the current fiscal year.
Several equities analysts have weighed in on the company. Zacks Investment Research lowered Allegheny Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. Bank of America set a $34.00 price objective on Allegheny Technologies and gave the company a “buy” rating in a report on Wednesday, July 25th. KeyCorp increased their price objective on Allegheny Technologies from $31.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Barclays increased their price objective on Allegheny Technologies from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Monday, July 30th. Finally, Longbow Research raised Allegheny Technologies from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Tuesday. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $33.56.
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About Allegheny Technologies
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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