Allegheny Stock Falls On Unusually High Volume (ATI)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK (TheStreet) -- Allegheny Technologies (NYSE:ATI) is trading at unusually high volume Thursday with 3.2 million shares changing hands. It is currently at two times its average daily volume and trading down 64 cents (-2.1%) at $30.21 as of 3:51 p.m. ET.

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Allegheny has a market cap of $3.28 billion and is part of the industrial goods sector and industrial industry. Shares are down 1.5% year to date as of the close of trading on Wednesday.

Allegheny Technologies Incorporated (ATI) engages in the production of specialty metals worldwide. It operates in three segments: High Performance Metals, Flat-Rolled Products, and Engineered Products. The company has a P/E ratio of 19, above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Allegheny as a hold. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including poor profit margins, a generally disappointing performance in the stock itself and deteriorating net income. You can view the full Allegheny Ratings Report.

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