5 Stocks Pushing The Industrial Goods Sector Higher

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

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 20 points (-0.2%) at 12,795 as of Monday, Nov. 12, 2012, 11:49 AM ET. The NYSE advances/declines ratio sits at 1,283 issues advancing vs. 1,555 declining with 129 unchanged.

The Industrial Goods sector currently sits down 0.3% versus the S&P 500, which is down 0.1%. Top gainers within the sector include Sherwin-Williams Company ( SHW), up 6.2%, and Boeing ( BA), up 1.2%. On the negative front, top decliners within the sector include James Hardie Industries ( JHX), down 3.0%, Nidec Corporation ( NJ), down 2.3% and Fastenal Company ( FAST), down 1.0%.

TheStreet Ratings group would like to highlight 5 stocks pushing the sector higher today:

5. Allegheny Technologies ( ATI) is one of the companies pushing the Industrial Goods sector higher today. As of noon trading, Allegheny Technologies is up $1.47 (5.5%) to $28.24 on average volume Thus far, 944,273 shares of Allegheny Technologies exchanged hands as compared to its average daily volume of 1.6 million shares. The stock has ranged in price between $27.31-$28.30 after having opened the day at $27.73 as compared to the previous trading day's close of $26.77.

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 $2.9 billion and is part of the industrial industry. The company has a P/E ratio of 16.6, below the S&P 500 P/E ratio of 17.7. Shares are down 44.2% year to date as of the close of trading on Friday. Currently there are 6 analysts that rate Allegheny Technologies a buy, no analysts rate it a sell, and 3 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 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. Get the full Allegheny Technologies Ratings Report now.

If you liked this article you might like

Why the Boardroom Doesn't Need Ivy League Degrees

Steel Stocks Are Red Hot Following AK Earnings Beat and Belief Tarrifs May Be Set Soon