Frontier Capital Management Co. LLC Boosts Stake in Allegheny Technologies Incorporated (ATI)

Frontier Capital Management Co. LLC boosted its position in Allegheny Technologies Incorporated (NYSE:ATI) by 19.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,562,933 shares of the basic materials company’s stock after purchasing an additional 1,572,523 shares during the period. Allegheny Technologies accounts for about 1.8% of Frontier Capital Management Co. LLC’s portfolio, making the stock its biggest holding. Frontier Capital Management Co. LLC owned about 7.61% of Allegheny Technologies worth $282,585,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ATI. Arizona State Retirement System grew its position in shares of Allegheny Technologies by 2.3% in the 3rd quarter. Arizona State Retirement System now owns 89,242 shares of the basic materials company’s stock valued at $2,637,000 after buying an additional 2,008 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of Allegheny Technologies by 2.3% in the 2nd quarter. Mutual of America Capital Management LLC now owns 107,718 shares of the basic materials company’s stock valued at $2,706,000 after buying an additional 2,439 shares during the last quarter. Rhumbline Advisers grew its position in shares of Allegheny Technologies by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 242,826 shares of the basic materials company’s stock valued at $6,100,000 after buying an additional 3,143 shares during the last quarter. US Bancorp DE grew its position in shares of Allegheny Technologies by 7.2% in the 2nd quarter. US Bancorp DE now owns 48,589 shares of the basic materials company’s stock valued at $1,221,000 after buying an additional 3,262 shares during the last quarter. Finally, IndexIQ Advisors LLC grew its position in shares of Allegheny Technologies by 57.4% in the 2nd quarter. IndexIQ Advisors LLC now owns 9,311 shares of the basic materials company’s stock valued at $234,000 after buying an additional 3,397 shares during the last quarter.

A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Allegheny Technologies from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Thursday, September 13th. KeyCorp upped their price target on Allegheny Technologies from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. Bank of America set a $34.00 price target on Allegheny Technologies and gave the company a “buy” rating in a research report on Wednesday, July 25th. Barclays upped their price target on Allegheny Technologies from $36.00 to $39.00 and gave the company an “overweight” rating in a research report on Monday, July 30th. Finally, ValuEngine lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $32.44.



Shares of Allegheny Technologies stock traded up $0.49 on Tuesday, hitting $25.70. 114,574 shares of the company’s stock traded hands, compared to its average volume of 1,781,466. 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 cap of $3.17 billion, a price-to-earnings ratio of 53.54 and a beta of 2.46.

Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, October 23rd. The basic materials company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Allegheny Technologies had a net margin of 4.67% and a return on equity of 10.15%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the company earned ($0.07) EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, sell-side analysts expect that Allegheny Technologies Incorporated will post 1.62 EPS for the current fiscal year.

In other Allegheny Technologies news, VP Karl D. Schwartz sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $25.90, for a total value of $25,900.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 3,000 shares of company stock worth $79,790. Corporate insiders own 1.00% of the company’s stock.

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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Institutional Ownership by Quarter for Allegheny Technologies (NYSE:ATI)

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