Allegheny Technologies Incorporated (NYSE:ATI) Shares Sold by Wedge Capital Management L L P NC – Defense World
Posted by admin on Jun 25th, 2022 
Wedge Capital Management L L P NC reduced its holdings in Allegheny Technologies Incorporated (NYSE:ATI – Get Rating) by 13.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 254,131 shares of the basic materials company’s stock after selling 39,318 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Allegheny Technologies were worth $6,821,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Advisory LLC acquired a new stake in shares of Allegheny Technologies in the 4th quarter valued at approximately $32,000. Huntington National Bank lifted its holdings in shares of Allegheny Technologies by 18.0% in the 4th quarter. Huntington National Bank now owns 3,280 shares of the basic materials company’s stock valued at $52,000 after buying an additional 501 shares during the period. Emerald Advisers LLC acquired a new stake in shares of Allegheny Technologies in the 4th quarter valued at approximately $89,000. Rafferty Asset Management LLC acquired a new stake in shares of Allegheny Technologies in the 4th quarter valued at approximately $161,000. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Allegheny Technologies in the 4th quarter valued at approximately $181,000.
Several brokerages recently issued reports on ATI. StockNews.com began coverage on Allegheny Technologies in a report on Thursday, March 31st. They set a “hold” rating for the company. KeyCorp lifted their price objective on Allegheny Technologies from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, April 4th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.13.
In other Allegheny Technologies news, CMO Kevin B. Kramer sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 14th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer now owns 160,338 shares in the company, valued at $4,810,140. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.82% of the stock is currently owned by insiders.
Shares of NYSE:ATI opened at $23.17 on Friday. The company has a market cap of $2.88 billion, a P/E ratio of -579.25 and a beta of 1.28. The company has a quick ratio of 1.25, a current ratio of 2.61 and a debt-to-equity ratio of 2.15. Allegheny Technologies Incorporated has a 52 week low of $13.85 and a 52 week high of $30.74. The business has a fifty day simple moving average of $26.27 and a 200-day simple moving average of $23.66.
Allegheny Technologies (NYSE:ATI – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.18. Allegheny Technologies had a return on equity of 11.17% and a net margin of 0.02%. The firm had revenue of $834.10 million during the quarter, compared to the consensus estimate of $748.04 million. During the same quarter in the previous year, the business earned ($0.06) earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Sell-side analysts expect that Allegheny Technologies Incorporated will post 1.47 earnings per share for the current fiscal year.
Allegheny Technologies Company Profile (Get Rating)
Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.
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