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

Allegheny Technologies ( ATI) pushed the Industrial Goods sector lower today making it today's featured Industrial Goods laggard. The sector as a whole closed the day up 0.2%. By the end of trading, Allegheny Technologies fell 38 cents (-1.2%) to $31.49 on light volume. Throughout the day, 931,019 shares of Allegheny Technologies exchanged hands as compared to its average daily volume of 1.9 million shares. The stock ranged in price between $30.91-$31.77 after having opened the day at $31.71 as compared to the previous trading day's close of $31.87. Other companies within the Industrial Goods sector that declined today were: Guanwei Recycling ( GPRC), down 24.1%, Ecotality ( ECTY), down 21.9%, Cleantech Solutions International ( CLNT), down 14.8%, and Smith & Wesson Holding Corporation ( SWHC), down 11.9%.

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. Allegheny Technologies has a market cap of $3.48 billion and is part of the industrial industry. The company has a P/E ratio of 17.4, below the average industrial industry P/E ratio of 17.5 and below the S&P 500 P/E ratio of 17.7. Shares are down 33.3% year to date as of the close of trading on Tuesday. Currently there are eight analysts that rate Allegheny Technologies a buy, no analysts rate it a sell, and none rate 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, attractive valuation levels and good cash flow from operations. 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, Integrated Electrical Services ( IESC), up 13.2%, UQM Technologies ( UQM), up 10%, CECO Environmental ( CECE), up 8.4%, and Energy Solutions ( ES), up 7.8%, were all gainers within the industrial goods sector with Shaw Group ( SHAW) being today's featured industrial goods sector leader.

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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