Inspire Investing LLC Takes $233000 Position in Allegheny Technologies Incorporated (NYSE:ATI) – Defense World
Posted by admin on Jul 11th, 2022 
Inspire Investing LLC acquired a new position in shares of Allegheny Technologies Incorporated (NYSE:ATI – Get Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,699 shares of the basic materials company’s stock, valued at approximately $233,000.
A number of other large investors have also bought and sold shares of ATI. Frontier Capital Management Co. LLC boosted its stake in Allegheny Technologies by 31.7% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,855,576 shares of the basic materials company’s stock worth $29,559,000 after acquiring an additional 446,454 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Allegheny Technologies by 4,909.7% during the fourth quarter. Russell Investments Group Ltd. now owns 170,331 shares of the basic materials company’s stock worth $2,709,000 after acquiring an additional 166,931 shares in the last quarter. Huntington National Bank boosted its stake in Allegheny Technologies by 18.0% during the fourth quarter. Huntington National Bank now owns 3,280 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 501 shares in the last quarter. Bessemer Group Inc. boosted its stake in Allegheny Technologies by 4.2% during the fourth quarter. Bessemer Group Inc. now owns 24,645 shares of the basic materials company’s stock worth $393,000 after acquiring an additional 990 shares in the last quarter. Finally, ARK Investment Management LLC boosted its stake in Allegheny Technologies by 5.8% during the fourth quarter. ARK Investment Management LLC now owns 26,804 shares of the basic materials company’s stock worth $427,000 after acquiring an additional 1,462 shares in the last quarter.
Shares of NYSE ATI opened at $21.91 on Monday. The firm’s 50 day moving average price is $25.05 and its 200-day moving average price is $24.28. The company has a market cap of $2.72 billion, a PE ratio of -547.75 and a beta of 1.33. Allegheny Technologies Incorporated has a 52-week low of $13.85 and a 52-week high of $30.74. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.25 and a current ratio of 2.61.
Allegheny Technologies (NYSE:ATI – Get Rating) last issued its earnings results on Wednesday, May 4th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.18. Allegheny Technologies had a net margin of 0.02% and a return on equity of 11.17%. The firm had revenue of $834.10 million for the quarter, compared to the consensus estimate of $748.04 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. On average, analysts forecast that Allegheny Technologies Incorporated will post 1.49 earnings per share for the current fiscal year.
In other news, CMO Kevin B. Kramer sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief marketing officer now directly owns 160,338 shares of the company’s stock, valued at $4,810,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by insiders.
ATI has been the topic of several research reports. StockNews.com initiated coverage on shares of Allegheny Technologies in a research note on Thursday, March 31st. They set a “hold” rating on the stock. KeyCorp dropped their price objective on shares of Allegheny Technologies from $34.00 to $31.00 and set an “overweight” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.71.
Allegheny Technologies 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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