Symphony Financial Ltd. Co. Cuts Stake in Allegheny Technologies Incorporated (NYSE:ATI)


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Symphony Financial Ltd. Co. trimmed its position in shares of Allegheny Technologies Incorporated (NYSE:ATI) by 43.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,517 shares of the basic materials company’s stock after selling 6,500 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Allegheny Technologies were worth $289,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Jeppson Wealth Management LLC purchased a new stake in shares of Allegheny Technologies during the 3rd quarter valued at about $28,000. Private Advisor Group LLC purchased a new stake in shares of Allegheny Technologies during the 2nd quarter valued at about $40,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Allegheny Technologies by 33.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 8,515 shares of the basic materials company’s stock valued at $87,000 after acquiring an additional 2,137 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Allegheny Technologies during the 3rd quarter valued at about $95,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Allegheny Technologies during the 2nd quarter valued at about $100,000. 92.91% of the stock is currently owned by institutional investors.

NYSE ATI opened at $18.26 on Thursday. Allegheny Technologies Incorporated has a 12 month low of $4.95 and a 12 month high of $20.78. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -5.76 and a beta of 1.93. The company’s 50 day moving average is $16.55 and its two-hundred day moving average is $11.41. The company has a current ratio of 3.70, a quick ratio of 1.86 and a debt-to-equity ratio of 0.83.

Allegheny Technologies (NYSE:ATI) last released its earnings results on Tuesday, November 3rd. The basic materials company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.22. Allegheny Technologies had a negative net margin of 11.82% and a positive return on equity of 1.32%. The company had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $631.10 million. During the same quarter last year, the business earned $0.78 EPS. The firm’s revenue was down 41.3% compared to the same quarter last year. Sell-side analysts forecast that Allegheny Technologies Incorporated will post -0.54 EPS for the current year.

In other news, CFO Donald P. Newman bought 12,500 shares of the firm’s stock in a transaction on Thursday, December 10th. The shares were bought at an average price of $16.83 per share, for a total transaction of $210,375.00. Following the purchase, the chief financial officer now owns 80 shares in the company, valued at $1,346.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.74% of the stock is currently owned by company insiders.

A number of analysts have recently issued reports on the stock. Barclays raised shares of Allegheny Technologies from an “underweight” rating to an “equal weight” rating and set a $16.00 price target on the stock in a report on Friday, December 4th. KeyCorp increased their price objective on shares of Allegheny Technologies from $15.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, December 7th. Zacks Investment Research upgraded shares of Allegheny Technologies from a “sell” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research note on Tuesday. ValuEngine upgraded shares of Allegheny Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, December 8th. Finally, Benchmark upgraded shares of Allegheny Technologies from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Friday, December 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $19.14.

Allegheny Technologies Company Profile

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates in two segments, High Performance Materials & Components and Advanced Alloys & Solutions. The company 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 to the aerospace and defense, medical, oil and gas, and electrical energy markets.

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

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