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NEW YORK ( TheStreet) -- Allegheny Technologies (NYSE: ATI) hit a new 52-week low Friday as it is currently trading at $30.70, below its previous 52-week low of $30.79 with 1.8 million shares traded as of 1:30 p.m. ET. Average volume has been 1.6 million shares over the past 30 days. Allegheny has a market cap of $3.53 billion and is part of the industrial goods sector and industrial industry. Shares are down 32.8% year to date as of the close of trading on Thursday. Allegheny Technologies Incorporated 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 17.1, equal to the average industrial industry P/E ratio and below the S&P 500 P/E ratio of 17.7.