Allegheny Technologies Incorporated (NYSE:ATI) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in Allegheny Technologies Incorporated (NYSE:ATI) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,328,777 shares of the basic materials company’s stock after purchasing an additional 96,014 shares during the quarter. Geode Capital Management LLC owned approximately 1.06% of Allegheny Technologies worth $28,927,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quantamental Technologies LLC acquired a new stake in Allegheny Technologies during the 4th quarter valued at $41,000. Pearl River Capital LLC purchased a new stake in shares of Allegheny Technologies during the fourth quarter worth about $48,000. Whittier Trust Co. purchased a new stake in shares of Allegheny Technologies during the fourth quarter worth about $59,000. LPL Financial LLC grew its stake in Allegheny Technologies by 15.6% in the fourth quarter. LPL Financial LLC now owns 9,826 shares of the basic materials company’s stock worth $214,000 after purchasing an additional 1,326 shares in the last quarter. Finally, Dupont Capital Management Corp acquired a new position in Allegheny Technologies in the fourth quarter worth about $239,000.

In related news, Director James C. Diggs sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $23.65, for a total value of $94,600.00. Following the completion of the transaction, the director now owns 36,458 shares in the company, valued at approximately $862,231.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.06% of the company’s stock.

A number of equities analysts have commented on the company. Macquarie downgraded Allegheny Technologies from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $34.00 to $28.00 in a research note on Friday, April 12th. ValuEngine cut Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Zacks Investment Research upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Buckingham Research cut shares of Allegheny Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $40.00 to $27.00 in a research report on Monday, May 6th. Finally, KeyCorp boosted their price target on shares of Allegheny Technologies from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $32.20.

Allegheny Technologies stock traded up $0.39 on Friday, reaching $25.20. 1,377,260 shares of the stock were exchanged, compared to its average volume of 1,163,437. The company’s fifty day moving average is $23.39. The firm has a market cap of $3.13 billion, a PE ratio of 16.69, a PEG ratio of 1.11 and a beta of 2.32. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.22 and a current ratio of 2.87. Allegheny Technologies Incorporated has a twelve month low of $20.84 and a twelve month high of $30.18.

Allegheny Technologies (NYSE:ATI) last posted 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 during the quarter, compared to analysts’ expectations of $991.18 million. During the same quarter last year, the company posted $0.32 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Allegheny Technologies Incorporated will post 1.49 EPS for the current fiscal year.

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 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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