Springowl Associates LLC raised its stake in Allegheny Technologies Incorporated (NYSE:ATI) by 8.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 33,600 shares of the basic materials company’s stock after purchasing an additional 2,500 shares during the period. Allegheny Technologies accounts for approximately 1.1% of Springowl Associates LLC’s holdings, making the stock its 16th biggest holding. Springowl Associates LLC’s holdings in Allegheny Technologies were worth $847,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. increased its position in shares of Allegheny Technologies by 31.3% in the 2nd quarter. Asset Management One Co. Ltd. now owns 137,881 shares of the basic materials company’s stock worth $3,475,000 after purchasing an additional 32,876 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Allegheny Technologies in the 2nd quarter worth about $64,000. US Bancorp DE increased its position in shares of Allegheny Technologies by 1.9% in the 2nd quarter. US Bancorp DE now owns 45,035 shares of the basic materials company’s stock worth $1,135,000 after purchasing an additional 835 shares during the last quarter. ETRADE Capital Management LLC increased its position in shares of Allegheny Technologies by 4.1% in the 2nd quarter. ETRADE Capital Management LLC now owns 28,573 shares of the basic materials company’s stock worth $720,000 after purchasing an additional 1,127 shares during the last quarter. Finally, MML Investors Services LLC increased its position in shares of Allegheny Technologies by 7.1% in the 2nd quarter. MML Investors Services LLC now owns 9,397 shares of the basic materials company’s stock worth $237,000 after purchasing an additional 622 shares during the last quarter.

In other news, insider Robert S. Wetherbee bought 5,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $18.36 per share, for a total transaction of $91,800.00. Following the transaction, the insider now owns 113,335 shares in the company, valued at $2,080,830.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Elliot S. Davis bought 2,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $17.53 per share, with a total value of $35,060.00. Following the transaction, the senior vice president now owns 6,530 shares in the company, valued at approximately $114,470.90. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 12,400 shares of company stock valued at $222,680. Insiders own 1.06% of the company’s stock.

Shares of NYSE:ATI traded down $0.14 during trading on Monday, reaching $21.76. 632,316 shares of the company’s stock traded hands, compared to its average volume of 1,651,748. 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 Incorporated has a 12 month low of $17.03 and a 12 month high of $30.18. The company has a 50 day moving average of $19.59 and a 200-day moving average of $23.63. The stock has a market capitalization of $2.73 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 1.10 and a beta of 2.28.

Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings data on Tuesday, July 23rd. The basic materials company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Allegheny Technologies had a net margin of 4.39% and a return on equity of 7.83%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts predict that Allegheny Technologies Incorporated will post 1.3 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on the stock. TheStreet downgraded shares of Allegheny Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, August 22nd. Barclays reissued a “buy” rating and issued a $31.00 target price on shares of Allegheny Technologies in a research report on Wednesday, July 31st. ValuEngine downgraded shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Longbow Research downgraded shares of Allegheny Technologies from a “buy” rating to a “neutral” rating and set a $24.45 price objective for the company. in a research report on Thursday, July 18th. Finally, Cowen reaffirmed a “buy” rating and set a $32.00 price objective on shares of Allegheny Technologies in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $29.93.

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 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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