Allegheny Technologies Shares Soar After Encouraging 4Q Earnings Release; Fair Value Raised to $23
Allegheny Technologies shares moved sharply higher as the company delivered materially improved results across both reporting segments. In the fourth quarter, the high-performance materials and components segment delivered material margin expansion (both sequentially and year on year), while the flat-rolled products segment nearly achieved break-even operating income. We've ticked up our medium-term profitability forecasts, now assuming that HPMC operating margins exceed our midcycle forecast be...Allegheny Technologies is a manufacturer of specialty materials and components. The company operates in two business segments: High Performance Materials and Components, which produces a range of specialty materials, parts and components for several main end markets, including aerospace and defense, medical, and energy; and Flat Rolled Products, which produces nickel-based alloys, specialty alloys, titanium and titanium-based alloys, and stainless steel in a variety of forms including plate, sheet, engineered strip, and Precision Rolled Strip? products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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