Allegheny Technologies Inc (ATI): Today's Featured Industrial Goods Loser

Allegheny Technologies ( ATI) pushed the Industrial Goods sector lower today making it today's featured Industrial Goods loser. The sector as a whole closed the day up 0.9%. By the end of trading, Allegheny Technologies fell 92 cents (-3%) to $30.30 on average volume. Throughout the day, two million shares of Allegheny Technologies exchanged hands as compared to its average daily volume of 1.7 million shares. The stock ranged in price between $29.84-$30.89 after having opened the day at $30.75 as compared to the previous trading day's close of $31.22. Other company's within the Industrial Goods sector that declined today were: Wowjoint Holdings ( BWOW), down 13.2%, Compx International ( CIX), down 11.4%, Ecotality ( ECTY), down 10.9%, and China Development Group Corporation ( CTDC), down 7.7%.

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. Allegheny Technologies has a market cap of $3.33 billion and is part of the industrial industry. The company has a P/E ratio of 16.1, above the average industrial industry P/E ratio of 16 and below the S&P 500 P/E ratio of 17.7. Shares are down 35.9% year to date as of the close of trading on Thursday. Currently there are eight analysts that rate Allegheny Technologies a buy, no analysts rate it a sell, and one rates it a hold.

TheStreet Ratings rates Allegheny Technologies as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, 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 a generally disappointing performance in the stock itself and poor profit margins.

On the positive front, Exide Technologies ( XIDE), up 15.1%, Adept Technology ( ADEP), up 13.4%, Goldfield ( GV), up 13.1%, and THT Heat Transfer Technology ( THTI), up 11.7%, were all gainers within the industrial goods sector with Stanley Black & Decker ( SWK) being today's featured industrial goods sector winner.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the industrial goods sector could consider Industrial Select Sector SPDR ( XLI) while those bearish on the industrial goods sector could consider ProShares Short Dow 30 ( DOG).
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