Allegheny Stock Falls On Unusually High Volume (ATI)
Allegheny Technologies (NYSE:ATI) is trading at unusually high volume Wednesday with 3.5 million shares changing hands. It is currently at two times its average daily volume and trading down 62 cents (-2.3%).
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 Wednesday with 3.5 million shares changing hands. It is currently at two times its average daily volume and trading down 62 cents (-2.3%) at $26.91 as of 4 p.m. ET.
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Allegheny has a market cap of $2.94 billion and is part of the industrial goods sector and industrial industry. Shares are down 9.3% year to date as of the close of trading on Tuesday. Allegheny Technologies Incorporated engages in the production and sale 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 19.1, above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Allegheny as a hold. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including a generally disappointing performance in the stock itself, poor profit margins and weak operating cash flow. You can view the full Allegheny Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100% See his top picks for 14-days FREE.