Mcclain Value Management Lowers stake in Allegheny Technologies Incorporated (ATI)

Allegheny Technologies Incorporated (ATI) : Mcclain Value Management reduced its stake in Allegheny Technologies Incorporated by 3.86% during the most recent quarter end. The investment management company now holds a total of 398,749 shares of Allegheny Technologies Incorporated which is valued at $7,010,007 after selling 16,023 shares in Allegheny Technologies Incorporated , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Allegheny Technologies Incorporated makes up approximately 5.61% of Mcclain Value Management’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas reduced its stake in ATI by selling 400,667 shares or 96.36% in the most recent quarter. The Hedge Fund company now holds 15,120 shares of ATI which is valued at $260,669.State Treasurer State Of Michigan boosted its stake in ATI in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 43,700 shares of Allegheny Technologies Incorporated which is valued at $772,179. Allegheny Technologies Incorporated makes up approx 0.01% of State Treasurer State Of Michigan’s portfolio.Rathbone Brothers Plc reduced its stake in ATI by selling 1,500 shares or 9.52% in the most recent quarter. The Hedge Fund company now holds 14,250 shares of ATI which is valued at $251,798. Allegheny Technologies Incorporated makes up approx 0.01% of Rathbone Brothers Plc’s portfolio. Huntington National Bank sold out all of its stake in ATI during the most recent quarter. The investment firm sold 25 shares of ATI which is valued $449.

Allegheny Technologies Incorporated opened for trading at $17.54 and hit $17.96 on the upside on Wednesday, eventually ending the session at $17.77, with a gain of 0.45% or 0.08 points. The heightened volatility saw the trading volume jump to 15,85,362 shares. Company has a market cap of $1,936 M.

On the company’s financial health, Allegheny Technologies Incorporated reported $-0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $-0.37. The company had revenue of $810.50 million for the quarter, compared to analysts expectations of $795.70 million. The company’s revenue was down -20.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.15 EPS.

Many Wall Street Analysts have commented on Allegheny Technologies Incorporated. Allegheny Technologies Incorporated was Upgraded by BofA/Merrill to ” Buy” on May 23, 2016.

Allegheny Technologies Incorporated is a specialty materials and components producer. The Company’s standard products include specialty stainless sheet stainless steel sheet and stainless steel plate. It operates through two business segments: High Performance Materials & Components and Flat Rolled Products. It’s High Performance Materials & Components segment produces converts and distributes high performance materials including titanium and titanium-based alloys nickel- and cobalt-based alloys and superalloys zirconium and related alloys. It’s Flat Rolled Products segment produces converts and distributes stainless steel nickel-based alloys specialty alloys and titanium and titanium-based alloys.

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