Allegheny Technologies Incorporated (NYSE:ATI)’s stock price was up 0.4% during trading on Wednesday . The company traded as high as $20.94 and last traded at $21.01, approximately 35,062 shares were traded during trading. A decline of 98% from the average daily volume of 1,667,020 shares. The stock had previously closed at $20.93.

A number of brokerages have recently issued reports on ATI. TheStreet downgraded Allegheny Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, August 22nd. Cowen reiterated a “buy” rating and issued a $32.00 target price on shares of Allegheny Technologies in a research note on Monday, August 12th. Longbow Research downgraded shares of Allegheny Technologies from a “buy” rating to a “neutral” rating and set a $24.45 target price on the stock. in a research report on Thursday, July 18th. Barclays restated a “buy” rating and set a $31.00 price target on shares of Allegheny Technologies in a research note on Wednesday, July 31st. Finally, ValuEngine cut shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Allegheny Technologies currently has a consensus rating of “Hold” and a consensus price target of $29.72.

The stock has a fifty day moving average of $19.68 and a 200 day moving average of $23.70. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 1.02 and a beta of 2.28. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.98 and a quick ratio of 1.37.

Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, July 23rd. The basic materials company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.05. Allegheny Technologies had a net margin of 4.39% and a return on equity of 7.83%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company earned $0.52 EPS. Allegheny Technologies’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities analysts expect that Allegheny Technologies Incorporated will post 1.3 earnings per share for the current fiscal year.

In related news, insider Robert S. Wetherbee bought 5,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average price of $18.36 per share, for a total transaction of $91,800.00. Following the completion of the purchase, the insider now directly owns 113,335 shares of the company’s stock, valued at $2,080,830.60. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James C. Diggs sold 4,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $23.65, for a total value of $94,600.00. Following the completion of the sale, the director now owns 36,458 shares in the company, valued at approximately $862,231.70. The disclosure for this sale can be found here. Insiders bought a total of 12,400 shares of company stock worth $222,680 over the last ninety days. Insiders own 1.06% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC increased 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 purchasing an additional 935 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new stake in Allegheny Technologies in the first quarter valued at $64,000. Tower Research Capital LLC TRC acquired a new position in Allegheny Technologies in the second quarter valued at approximately $64,000. Nisa Investment Advisors LLC boosted its holdings in Allegheny Technologies by 35.3% in the second quarter. Nisa Investment Advisors LLC now owns 3,830 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Allegheny Technologies by 278.7% in the first quarter. Advisors Asset Management Inc. now owns 4,154 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 3,057 shares during the last quarter.

Allegheny Technologies Company Profile (NYSE:ATI)

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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