Ownership Action to Note: Allegheny Technologies Inc (NYSE:ATI) Institutional Investor Sentiment

November 30, 2016 - By Adrian Mccoy   ·   0 Comments

Ownership Action to Note: Allegheny Technologies Inc (NYSE:ATI) Institutional Investor Sentiment

Sentiment for Allegheny Technologies Inc (NYSE:ATI)

Allegheny Technologies Inc (NYSE:ATI) institutional sentiment decreased to 1.02 in 2016 Q2. Its down -0.20, from 1.22 in 2016Q1. The ratio is negative, as 110 hedge funds opened new or increased positions, while 90 sold and decreased positions in Allegheny Technologies Inc. The hedge funds in our partner’s database now possess: 96.83 million shares, up from 85.16 million shares in 2016Q1. Also, the number of hedge funds holding Allegheny Technologies Inc in their top 10 positions increased from 2 to 3 for an increase of 1. Sold All: 34 Reduced: 56 Increased: 84 New Position: 26.

Allegheny Technologies Incorporated is a specialty materials and components producer. The company has a market cap of $1.73 billion. The Firm operates through two business divisions: High Performance Materials & Components and Flat Rolled Products. It currently has negative earnings. ATI’s products include titanium and titanium alloys, nickel alloys and specialty steels, precision forgings, castings and machined components, zirconium and related alloys, precision and engineered stainless steel strip, and grain-oriented electrical steel.

About 5,052 shares traded hands. Allegheny Technologies Incorporated (NYSE:ATI) has declined 0.90% since April 27, 2016 and is downtrending. It has underperformed by 6.13% the S&P500.

Analysts await Allegheny Technologies Incorporated (NYSE:ATI) to report earnings on January, 24. They expect $-0.11 EPS, up 80.36% or $0.45 from last year’s $-0.56 per share. After $-0.21 actual EPS reported by Allegheny Technologies Incorporated for the previous quarter, Wall Street now forecasts -47.62% EPS growth.

According to Zacks Investment Research, “Allegheny Technologies Incorporated is one of the largest and most diversified producers of specialty materials in the world. The company’s talented people use innovative technologies to offer growing global markets a wide range of specialty materials including stainless steel, nickel-based and cobalt-based alloys and superalloys, titanium and titanium alloys, specialty steel alloys, zirconium and related alloys, and tungsten-based specialty materials. The goal is to be the low cost, high quality supplier to global markets. (PRESS RELEASE)”

Mcclain Value Management Llc holds 4.33% of its portfolio in Allegheny Technologies Incorporated for 398,749 shares. Van Den Berg Management I Inc owns 2.51 million shares or 4.11% of their US portfolio. Moreover, Ws Management Lllp has 2.03% invested in the company for 4.60 million shares. The Wisconsin-based Oarsman Capital Inc. has invested 1.97% in the stock. Sasco Capital Inc Ct, a Connecticut-based fund reported 5.35 million shares.#img1#

Allegheny Technologies Incorporated (NYSE:ATI) Ratings Coverage

Ratings analysis reveals 88% of Allegheny Tech’s analysts are positive. Out of 8 Wall Street analysts rating Allegheny Tech, 7 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $7 while the high is $40. The stock’s average target of $18.57 is 9.49% above today’s ($16.96) share price. ATI was included in 18 notes of analysts from July 21, 2015. Buckingham Research maintained the stock with “Buy” rating in Tuesday, February 9 report. The stock of Allegheny Technologies Incorporated (NYSE:ATI) earned “Buy” rating by Deutsche Bank on Monday, August 29. The stock has “Neutral” rating given by Bank of America on Tuesday, July 21. Cowen & Co maintained Allegheny Technologies Incorporated (NYSE:ATI) rating on Thursday, September 3. Cowen & Co has “Market Perform” rating and $23 price target. The rating was upgraded by Bank of America on Monday, May 23 to “Buy”. The rating was upgraded by Deutsche Bank on Monday, October 5 to “Buy”. The firm has “Hold” rating given on Wednesday, October 21 by Deutsche Bank. The stock has “Market Perform” rating given by Cowen & Co on Monday, April 4. The stock of Allegheny Technologies Incorporated (NYSE:ATI) earned “Underperform” rating by Bank of America on Tuesday, October 20. The stock of Allegheny Technologies Incorporated (NYSE:ATI) has “Buy” rating given on Thursday, October 1 by Stifel Nicolaus.

ATI Company Profile

Allegheny Technologies Incorporated (ATI), incorporated on August 26, 1999, is a specialty materials and components producer. The Firm operates through two business divisions: High Performance Materials & Components and Flat Rolled Products. ATI’s products include titanium and titanium alloys, nickel alloys and specialty steels, precision forgings, castings and machined components, zirconium and related alloys, precision and engineered stainless steel strip, and grain-oriented electrical steel. The Company’s standard products include specialty stainless sheet, stainless steel sheet and stainless steel plate. It is engaged in the production of titanium alloys, nickel and cobalt alloys and superalloys, and vacuum-melted specialty alloys used in the manufacture of components for both commercial and military jet engines, as well as replacement parts for those engines. It also produces titanium alloys, vacuum-melted specialty alloys and stainless alloys for use in commercial and military airframes, airframe components and missiles. Titanium and titanium alloys are used to produce jet engine components, such as blades, vanes, discs, casings and airframe components, such as structural members, landing gear, hydraulic systems and fasteners.

More notable recent Allegheny Technologies Incorporated (NYSE:ATI) news were published by: Fool.com which released: “Allegheny Technologies Incorporated Stock Slumps on Earnings Miss” on October 25, 2016, also Fool.com with their article: “Why Allegheny Technologies Incorporated’s Shares Popped 11% Today” published on August 29, 2016, Fool.com published: “Why Allegheny Technologies Incorporated’s Shares Popped 20% Today” on July 26, 2016. More interesting news about Allegheny Technologies Incorporated (NYSE:ATI) were released by: Fool.com and their article: “Why Allegheny Technologies Incorporated’s Shares Plunged 13% Today” published on May 18, 2016 as well as Fool.com‘s news article titled: “Why Allegheny Technologies Incorporated’s Shares Popped 40% in July” with publication date: August 08, 2016.

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By Adrian Mccoy

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