Allegheny Technologies Incorporated (NYSE:ATI) Shares Sold by SignalPoint Asset Management LLC

SignalPoint Asset Management LLC reduced its holdings in Allegheny Technologies Incorporated (NYSE:ATI) by 30.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,106 shares of the basic materials company’s stock after selling 6,096 shares during the period. SignalPoint Asset Management LLC’s holdings in Allegheny Technologies were worth $286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ATI. Iridian Asset Management LLC CT lifted its position in shares of Allegheny Technologies by 111.2% in the second quarter. Iridian Asset Management LLC CT now owns 3,603,621 shares of the basic materials company’s stock valued at $90,811,000 after acquiring an additional 1,897,390 shares in the last quarter. Invesco Ltd. lifted its position in shares of Allegheny Technologies by 46.5% in the second quarter. Invesco Ltd. now owns 3,504,894 shares of the basic materials company’s stock valued at $88,323,000 after acquiring an additional 1,111,943 shares in the last quarter. Northern Trust Corp lifted its position in shares of Allegheny Technologies by 34.4% in the second quarter. Northern Trust Corp now owns 3,031,048 shares of the basic materials company’s stock valued at $76,382,000 after acquiring an additional 775,079 shares in the last quarter. Balyasny Asset Management LLC lifted its position in shares of Allegheny Technologies by 1,820.0% in the second quarter. Balyasny Asset Management LLC now owns 460,095 shares of the basic materials company’s stock valued at $11,594,000 after acquiring an additional 436,132 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Allegheny Technologies by 3.2% in the second quarter. Vanguard Group Inc. now owns 12,145,107 shares of the basic materials company’s stock valued at $306,056,000 after acquiring an additional 373,842 shares in the last quarter.

In other Allegheny Technologies news, insider Robert S. Wetherbee bought 5,000 shares of Allegheny Technologies stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $18.36 per share, for a total transaction of $91,800.00. Following the completion of the transaction, 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 document filed with the SEC, which is available at the SEC website. Also, CMO Kevin B. Kramer bought 2,500 shares of Allegheny Technologies stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $17.68 per share, for a total transaction of $44,200.00. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 12,400 shares of company stock worth $222,680. 1.06% of the stock is currently owned by company insiders.

Allegheny Technologies stock traded down $0.29 during trading on Friday, reaching $20.20. 1,052,921 shares of the company were exchanged, compared to its average volume of 1,151,756. Allegheny Technologies Incorporated has a 52-week low of $17.03 and a 52-week high of $29.50. The company has a market capitalization of $2.58 billion, a P/E ratio of 13.38, a PEG ratio of 1.09 and a beta of 2.25. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.98 and a quick ratio of 1.37. The stock’s 50 day simple moving average is $20.38 and its two-hundred day simple moving average is $22.57.

Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings data on Tuesday, July 23rd. The basic materials company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.05. Allegheny Technologies had a return on equity of 7.83% and a net margin of 4.39%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the business posted $0.52 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts forecast that Allegheny Technologies Incorporated will post 1.26 earnings per share for the current year.

Several equities analysts have recently weighed in on ATI shares. Longbow Research downgraded Allegheny Technologies from a “neutral” rating to an “underperform” rating and set a $18.00 target price on the stock. in a research report on Tuesday, October 15th. TheStreet downgraded Allegheny Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, August 22nd. Goldman Sachs Group upgraded Allegheny Technologies from a “neutral” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Thursday, October 10th. KeyCorp decreased their target price on Allegheny Technologies from $33.00 to $28.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Finally, ValuEngine upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $27.33.

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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