Monarch Partners Asset Management LLC Has Lowered Its Allegheny Technologies INC (ATI) Stake by $5.05 Million; Stock Declined

January 14, 2018 - By Maria Brooks

Investors sentiment decreased to 0.86 in 2017 Q3. Its down 0.71, from 1.57 in 2017Q2. It worsened, as 28 investors sold ATI shares while 87 reduced holdings. 44 funds opened positions while 55 raised stakes. 116.44 million shares or 0.85% less from 117.44 million shares in 2017Q2 were reported. Credit Agricole S A reported 3,012 shares. Credit Suisse Ag owns 157,006 shares for 0% of their portfolio. Switzerland-based Swiss Bank has invested 0% in Allegheny Technologies Incorporated (NYSE:ATI). Moreover, Boston Prns has 0.01% invested in Allegheny Technologies Incorporated (NYSE:ATI) for 440,260 shares. Ledyard Commercial Bank accumulated 3,290 shares or 0.01% of the stock. X Management Communication Ltd Limited Liability Company has 4,324 shares. Carmignac Gestion accumulated 430,000 shares. Fernwood Mgmt stated it has 0.13% of its portfolio in Allegheny Technologies Incorporated (NYSE:ATI). Point72 Asset Mgmt Limited Partnership reported 190,000 shares. Huntington Bank & Trust has 0% invested in Allegheny Technologies Incorporated (NYSE:ATI). Oarsman Capital Incorporated holds 2.46% or 243,063 shares in its portfolio. Winfield Associates holds 120 shares. 17,425 were accumulated by Bessemer Grp. First Mercantile owns 27,804 shares for 0.12% of their portfolio. Van Eck Associates holds 0.02% of its portfolio in Allegheny Technologies Incorporated (NYSE:ATI) for 171,158 shares.

Monarch Partners Asset Management Llc decreased its stake in Allegheny Technologies Inc (ATI) by 27.17% based on its latest 2017Q3 regulatory filing with the SEC. Monarch Partners Asset Management Llc sold 219,395 shares as the company’s stock declined 21.75% while stock markets rallied. The institutional investor held 588,170 shares of the steel and iron ore company at the end of 2017Q3, valued at $14.06 million, down from 807,565 at the end of the previous reported quarter. Monarch Partners Asset Management Llc who had been investing in Allegheny Technologies Inc for a number of months, seems to be less bullish one the $3.12B market cap company. The stock decreased 1.51% or $0.44 during the last trading session, reaching $28.7. About 3.45 million shares traded or 48.66% up from the average. Allegheny Technologies Incorporated (NYSE:ATI) has risen 40.09% since January 14, 2017 and is uptrending. It has outperformed by 23.39% the S&P500.

Monarch Partners Asset Management Llc, which manages about $275.92M and $1.04 billion US Long portfolio, upped its stake in Textainer Group Holdings Ltd (NYSE:TGH) by 313,420 shares to 350,490 shares, valued at $6.01M in 2017Q3, according to the filing. It also increased its holding in Red Robin Gourmet Burgers In (NASDAQ:RRGB) by 92,001 shares in the quarter, for a total of 334,663 shares, and has risen its stake in Caesars Entmt Corp (NASDAQ:CZR).

Analysts await Allegheny Technologies Incorporated (NYSE:ATI) to report earnings on January, 23. They expect $0.15 earnings per share, up 475.00 % or $0.19 from last year’s $-0.04 per share. ATI’s profit will be $16.33 million for 47.83 P/E if the $0.15 EPS becomes a reality. After $-0.07 actual earnings per share reported by Allegheny Technologies Incorporated for the previous quarter, Wall Street now forecasts -314.29 % EPS growth.

Allegheny Technologies Incorporated (NYSE:ATI) Ratings Coverage

Among 13 analysts covering Allegheny Tech (NYSE:ATI), 9 have Buy rating, 0 Sell and 4 Hold. Therefore 69% are positive. Allegheny Tech had 35 analyst reports since July 21, 2015 according to SRatingsIntel. Cowen & Co maintained Allegheny Technologies Incorporated (NYSE:ATI) rating on Tuesday, July 25. Cowen & Co has “Hold” rating and $1800 target. The firm has “Hold” rating by Cowen & Co given on Thursday, June 29. The stock of Allegheny Technologies Incorporated (NYSE:ATI) has “Hold” rating given on Wednesday, April 26 by Cowen & Co. The stock has “Buy” rating by Bank of America on Monday, May 23. Seaport Global initiated Allegheny Technologies Incorporated (NYSE:ATI) on Friday, September 9 with “Buy” rating. The rating was upgraded by Seaport Global on Thursday, March 16 to “Buy”. KeyBanc Capital Markets maintained the shares of ATI in report on Thursday, November 16 with “Hold” rating. The stock of Allegheny Technologies Incorporated (NYSE:ATI) has “Hold” rating given on Wednesday, October 11 by KeyBanc Capital Markets. As per Monday, April 24, the company rating was upgraded by Berenberg. The firm has “Buy” rating by Deutsche Bank given on Monday, August 29.

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