Allegheny Technologies Net Worth

Allegheny Technologies Net Worth Breakdown

  ATI
The net worth of Allegheny Technologies Incorporated is the difference between its total assets and liabilities. Allegheny Technologies' net worth represents the value of the company's equity or ownership interest. In other words, it is the amount of money that would be left over if all of Allegheny Technologies' assets were sold and all of its debts were paid off. Net worth is sometimes referred to as shareholder's equity or book value. Allegheny Technologies' net worth can be used as a measure of its financial health and stability which can help investors to decide if Allegheny Technologies is a good investment. It is also essential in determining the company's creditworthiness and ability to secure financing before investing in Allegheny Technologies Incorporated stock.

Allegheny Technologies Net Worth Analysis

Allegheny Technologies' net worth analysis, or its valuation, is the process of determining the total value of the company. This involves assessing a range of factors, including Allegheny Technologies' financial performance, assets, liabilities, and potential for growth. The ultimate goal is to provide a clear understanding of Allegheny Technologies' overall worth, which can help investors make informed investment decisions. There are several methods that can be used to perform Allegheny Technologies' net worth analysis. One common approach is to calculate Allegheny Technologies' market capitalization.Another approach is to use the price-to-earnings ratio (P/E ratio), which compares Allegheny Technologies' stock price to its earnings per share (EPS). Discounted cash flow (DCF) analysis is another popular method for assessing Allegheny Technologies' net worth. This approach calculates the present value of Allegheny Technologies' future cash flows, taking into account factors such as growth rate, profitability, and risk. By comparing the present value of Allegheny Technologies' cash flows to its current stock price, investors can gain a better understanding of the company's overall value. Finally, investors may use comparable company analysis to evaluate Allegheny Technologies' net worth. This involves comparing Allegheny Technologies' financial metrics to similar companies in the same industry. By identifying companies with similar financial characteristics, investors can gain insight into Allegheny Technologies' net worth relative to its peers.

Enterprise Value

2.41 Billion

To determine if Allegheny Technologies is a good investment, evaluating the company's potential for future growth is also very important. This may include expanding into new markets, launching new products or services, or improving operational efficiency. Companies with strong growth prospects can be more attractive investments. This aspect of the research should be conducted in the context of the overall market and industry in which the company operates and should include an analysis of growth potential, competitive landscape, and any regulatory or economic factors that could impact the business. Some of the essential points regarding Allegheny Technologies' net worth research are outlined below:
Allegheny Technologies is unlikely to experience financial distress in the next 2 years
Allegheny is showing solid risk-adjusted performance over 90 days
Over 96.0% of the company shares are held by institutions such as insurance companies
Latest headline from zacks.com: AngloGold Ashanti to Boost Presence With Augusta Gold Buyout

Allegheny Technologies Quarterly Good Will

227.2 Million

Allegheny Technologies uses earnings reports to provide investors with an update of all three financial statements, including the income statement, the balance sheet, and the cash flow statement. Therefore, it is also crucial when considering investing in Allegheny Technologies Incorporated. Every quarterly earnings report provides investors with an overview of sales, expenses, and net income for the most recent period. It also may provide a comparison to Allegheny Technologies' previous reporting period. The quarterly earnings reports are usually disseminated to the public via Form 10-Q, which is a legal document filed with the Securities and Exchange Commission every quarter.
1st of February 2024
Upcoming Quarterly Report
View
2nd of May 2024
Next Financial Report
View
31st of December 2023
Next Fiscal Quarter End
View
1st of February 2024
Next Fiscal Year End
View
30th of September 2023
Last Quarter Report
View
31st of December 2022
Last Financial Announcement
View

Allegheny Technologies Target Price Consensus

Allegheny target price is determined by taking all analyst projections and averaging them out. There is no one specific way to measure analysts' performance other than comparing it to past results via a very sophisticated attribution analysis. Allegheny Technologies' target price projections below should be used in combination with other traditional price prediction techniques such as stock price forecasting, investor sentiment analysis, technical analysis, earnings estimate, and various momentum models.
   11  Strong Buy
Most Allegheny analysts issue ratings four times a year, at intervals of three months. Ratings are usually accompanied by a target price to help potential investors understand Allegheny stock's fair price compared to its market value. Analysts arrive at stock ratings after researching the public financial statements of Allegheny Technologies, talking to its executives and customers, or listening to those companies' conference calls.
Macroaxis Advice   Exposure   Valuation

Allegheny Technologies Target Price Projection

Allegheny Technologies' current and average target prices are 92.46 and 80.89, respectively. The current price of Allegheny Technologies is the price at which Allegheny Technologies Incorporated is currently trading. On the other hand, Allegheny Technologies' target price is what analysts think the stock is worth or could sell for in the future. The more significant the discrepancy between the two prices, the more it stimulates investors to act.

Current Price

Allegheny Technologies Market Quote on 23rd of July 2025

Low Price89.62Odds
High Price92.7Odds

92.46

Target Price

Analyst Consensus On Allegheny Technologies Target Price

Low Estimate73.61Odds
High Estimate89.79Odds

80.8889

Historical Lowest Forecast  73.61 Target Price  80.89 Highest Forecast  89.79
Note that most analysts generally publish their price targets in research reports on specific companies, along with recommendations for the company's stock.Although price targets are often quoted in the financial news media, there could be a delay between the publication of the latest analyst outlook on Allegheny Technologies Incorporated and the information provided on this page.

Know Allegheny Technologies' Top Institutional Investors

Have you ever been surprised when a price of an equity instrument such as Allegheny Technologies is soaring high without any particular reason? This is usually happening because many institutional investors are aggressively trading Allegheny Technologies Incorporated backward and forwards among themselves. Allegheny Technologies' institutional investor refers to the entity that pools money to purchase Allegheny Technologies' securities or originate loans. Institutional investors include commercial and private banks, credit unions, insurance companies, pension funds, hedge funds, endowments, and mutual funds. Operating companies that invest excess capital in these types of assets may also be included in the term and may influence corporate governance by exercising voting rights in their investments.
Shares
Geode Capital Management, Llc2025-03-31
2.4 M
D. E. Shaw & Co Lp2025-03-31
1.6 M
Channing Capital Management, Llc2025-03-31
1.6 M
Norges Bank2024-12-31
1.5 M
Charles Schwab Investment Management Inc2025-03-31
1.5 M
American Century Companies Inc2025-03-31
1.4 M
Bowen, Hanes & Co Inc2025-03-31
1.4 M
Millennium Management Llc2025-03-31
1.4 M
Barrow Hanley Mewhinney & Strauss Llc2025-03-31
1.3 M
Capital Research & Mgmt Co - Division 32025-03-31
16.9 M
Vanguard Group Inc2025-03-31
13.9 M
Note, although Allegheny Technologies' institutional investors appear to be way more sophisticated than retail investors, it remains unclear if professional active investment managers can reliably enhance risk-adjusted returns by an amount that exceeds fees and expenses.

Follow Allegheny Technologies' market capitalization trends

The company currently falls under 'Large-Cap' category with a total capitalization of 13.04 B.

Market Cap

2.03 Billion

Project Allegheny Technologies' profitablity

Last ReportedProjected for Next Year
Return On Tangible Assets 0.10  0.10 
Return On Capital Employed 0.13  0.09 
Return On Assets 0.09  0.10 
Return On Equity 0.34  0.36 
The company has Net Profit Margin of 0.09 %, which implies that it may need a different competitive strategy as even a very small decline in it revenue may erase profits and result in a net loss. This is way below average. In the same way, it shows Net Operating Margin of 0.13 %, which entails that for every 100 dollars of revenue, it generated $0.13 of operating income.
When accessing Allegheny Technologies' net worth, it's important to look at multiple sources and consider different scenarios. For example, gross profit margin measures Allegheny Technologies' profitability after accounting for the cost of goods sold, while net profit margin measures profitability after accounting for all expenses. Other important metrics include return on assets, return on equity, and free cash flow. By reviewing multiple sources and metrics, you can gain a complete picture of Allegheny Technologies' profitability and make more informed investment decisions.

Evaluate Allegheny Technologies' management efficiency

Allegheny Technologies has Return on Asset of 0.0728 % which means that on every $100 spent on assets, it made $0.0728 of profit. This is way below average. In the same way, it shows a return on shareholders' equity (ROE) of 0.2472 %, implying that it generated $0.2472 on every 100 dollars invested. Allegheny Technologies' management efficiency ratios could be used to measure how well Allegheny Technologies manages its routine affairs as well as how well it operates its assets and liabilities. As of now, Allegheny Technologies' Return On Tangible Assets are increasing as compared to previous years. The Allegheny Technologies' current Return On Assets is estimated to increase to 0.1, while Return On Capital Employed is projected to decrease to 0.09. As of now, Allegheny Technologies' Return On Tangible Assets are increasing as compared to previous years. The Allegheny Technologies' current Intangibles To Total Assets is estimated to increase to 0.07, while Total Assets are projected to decrease to under 4.6 B.
Last ReportedProjected for Next Year
Book Value Per Share 10.40  11.72 
Tangible Book Value Per Share 8.81  8.83 
Enterprise Value Over EBITDA 11.94  8.14 
Price Book Value Ratio 3.82  2.05 
Enterprise Value Multiple 11.94  8.14 
Price Fair Value 3.82  2.05 
Enterprise Value2.3 B2.4 B
Understanding the operational decisions made by Allegheny Technologies management offers insights into its financial robustness. This evaluation is crucial for assessing the stock's investment potential.
Enterprise Value Revenue
3.2513
Revenue
4.5 B
Quarterly Revenue Growth
0.097
Revenue Per Share
33.242
Return On Equity
0.2472
Some recent studies suggest that insider trading raises the cost of capital for securities issuers and decreases overall economic growth. Trading by specific Allegheny Technologies insiders, such as employees or executives, is commonly permitted as long as it does not rely on Allegheny Technologies' material information that is not in the public domain. Local jurisdictions usually require such trading to be reported in order to monitor insider transactions. In many U.S. states, trading conducted by corporate officers, key employees, directors, or significant shareholders must be reported to the regulator or publicly disclosed, usually within a few business days of the trade. In these cases Allegheny Technologies insiders are required to file a Form 4 with the U.S. Securities and Exchange Commission (SEC) when buying or selling shares of their own companies.
 
Robert Wetherbee over two months ago
Disposition of 26416 shares by Robert Wetherbee of Allegheny Technologies at 68.56 subject to Rule 16b-3
 
Jimmy Williams over three months ago
Acquisition by Jimmy Williams of 5896 shares of Allegheny Technologies subject to Rule 16b-3
 
Tina Busch over three months ago
Disposition of 1811 shares by Tina Busch of Allegheny Technologies at 55.81 subject to Rule 16b-3
 
Kimberly Fields over six months ago
Acquisition by Kimberly Fields of 118314 shares of Allegheny Technologies subject to Rule 16b-3
 
Tina Busch over six months ago
Disposition of 2598 shares by Tina Busch of Allegheny Technologies at 60.015 subject to Rule 16b-3
 
Robert Wetherbee over six months ago
Disposition of 25000 shares by Robert Wetherbee of Allegheny Technologies at 56.35 subject to Rule 16b-3
 
Tina Busch over six months ago
Disposition of 531 shares by Tina Busch of Allegheny Technologies at 61.77 subject to Rule 16b-3
 
Robert Wetherbee over six months ago
Disposition of 25000 shares by Robert Wetherbee of Allegheny Technologies at 62.23 subject to Rule 16b-3
 
Tina Busch over six months ago
Disposition of 531 shares by Tina Busch of Allegheny Technologies at 61.77 subject to Rule 16b-3
 
Donald Newman over six months ago
Disposition of 10355 shares by Donald Newman of Allegheny Technologies at 43.56 subject to Rule 16b-3
 
Washington Netta over a year ago
Insider Trading
 
Elliot Davis over a year ago
Disposition of 9627 shares by Elliot Davis of Allegheny Technologies at .0747 subject to Rule 16b-3

Allegheny Technologies Corporate Filings

17th of July 2025
Other Reports
ViewVerify
8K
20th of June 2025
Report filed with the SEC to announce major events that shareholders should know about
ViewVerify
F4
16th of June 2025
The report filed by a party regarding the acquisition or disposition of a company's common stock, as well as derivative securities such as options, warrants, and convertible securities
ViewVerify
13th of June 2025
Other Reports
ViewVerify
Allegheny Technologies time-series forecasting models is one of many Allegheny Technologies' stock analysis techniques aimed to predict future share value based on previously observed values. Time-series forecasting models ae widely used for non-stationary data. Non-stationary data are called the data whose statistical properties e.g. the mean and standard deviation are not constant over time but instead, these metrics vary over time. These non-stationary Allegheny Technologies' historical data is usually called time-series. Some empirical experimentation suggests that the statistical forecasting models outperform the models based exclusively on fundamental analysis to predict the direction of the market movement and maximize returns from investment trading.

Allegheny Technologies Earnings Estimation Breakdown

The calculation of Allegheny Technologies' earning per share is based on the data from the past 12 consecutive months, used for reporting the company's financial figures. The next projected EPS of Allegheny Technologies is estimated to be 0.71 with the future projection ranging from a low of 0.69 to a high of 0.73. Please be aware that this consensus of annual earnings estimates for Allegheny Technologies Incorporated is based on EPS before non-recurring items and includes expenses related to employee stock options.
Last Reported EPS
0.72
0.69
Lowest
Expected EPS
0.71
0.73
Highest

Allegheny Technologies Earnings Projection Consensus

Suppose the current estimates of Allegheny Technologies' value are higher than the current market price of the Allegheny Technologies stock. In this case, investors may conclude that Allegheny Technologies is overpriced and will exhibit bullish sentiment. On the other hand, if the present value is lower than the stock price, analysts may conclude that the market undervalues the equity. These scenarios may suggest that the market is not as efficient as it should be at the estimation time, and Allegheny Technologies' stock will quickly adjusts to the new information provided by the consensus estimate.
Number of AnalystsHistorical AccuracyLast Reported EPSEstimated EPS for 30th of June 2025Current EPS (TTM)
1191.17%
0.72
0.71
2.76

Allegheny Technologies Earnings per Share Projection vs Actual

Actual Earning per Share of Allegheny Technologies refers to what the company shows during its earnings calls or quarterly reports. The Expected EPS is what analysts covering Allegheny Technologies Incorporated predict the company's earnings will be in the future. The higher the earnings per share of Allegheny Technologies, the better is its profitability. While calculating the Earning per Share, we use the weighted ratio, as the number of shares outstanding can change over time.

Allegheny Technologies Estimated Months Earnings per Share

For an investor who is primarily interested in generating an income out of investing in entities such as Allegheny Technologies, the EPS ratio can tell if the company is intending to increase its current dividend. Although EPS is an essential tool for investors, it should not be used in isolation. EPS of Allegheny Technologies should always be considered in relation to other companies to make a more educated investment decision.

Allegheny Quarterly Analyst Estimates and Surprise Metrics

Earnings surprises can significantly impact Allegheny Technologies' stock price both in the short term and over time. Negative earnings surprises usually result in a price decline. However, it has been seen that positive earnings surprises lead to an immediate rise in a stock's price and a gradual increase over time. This is why we often hear news about some companies beating earning projections. Financial analysts spend a large amount of time predicting earnings per share (EPS) along with other important future indicators. Many analysts use forecasting models, management guidance, and additional fundamental information to derive an EPS estimate.
Reported
Fiscal Date
Estimated EPS
Reported EPS
Surprise
2025-05-01
2025-03-310.590.720.1322 
2025-02-04
2024-12-310.590.790.233 
2024-10-29
2024-09-300.670.6-0.0710 
2024-08-06
2024-06-300.580.60.02
2024-04-30
2024-03-310.420.480.0614 
2024-02-01
2023-12-310.620.640.02
2023-11-02
2023-09-300.530.550.02
2023-08-02
2023-06-300.550.590.04
2023-05-04
2023-03-310.480.490.01
2023-02-02
2022-12-310.520.530.01
2022-11-02
2022-09-300.530.530.0
2022-08-04
2022-06-300.370.540.1745 
2022-05-04
2022-03-310.20.40.2100 
2022-02-02
2021-12-310.110.250.14127 
2021-10-28
2021-09-30-0.020.050.07350 
2021-08-03
2021-06-30-0.19-0.120.0736 
2021-04-29
2021-03-31-0.24-0.060.1875 
2021-01-28
2020-12-31-0.35-0.330.02
2020-10-29
2020-09-30-0.6-0.380.2236 
2020-08-04
2020-06-30-0.1-0.020.0880 
2020-05-05
2020-03-310.130.20.0753 
2020-02-04
2019-12-310.320.360.0412 
2019-10-31
2019-09-300.330.330.0
2019-07-23
2019-06-300.340.40.0617 
2019-04-23
2019-03-310.110.120.01
2019-01-22
2018-12-310.340.3-0.0411 
2018-10-23
2018-09-300.390.37-0.02
2018-07-24
2018-06-300.360.520.1644 
2018-04-24
2018-03-310.240.320.0833 
2018-01-23
2017-12-310.150.270.1280 
2017-10-24
2017-09-30-0.06-0.07-0.0116 
2017-07-25
2017-06-300.070.090.0228 
2017-04-25
2017-03-310.110.160.0545 
2017-01-24
2016-12-31-0.11-0.040.0763 
2016-10-25
2016-09-30-0.09-0.21-0.12133 
2016-07-26
2016-06-30-0.37-0.210.1643 
2016-04-26
2016-03-31-0.56-0.58-0.02
2016-01-26
2015-12-31-0.46-0.56-0.121 
2015-10-20
2015-09-30-0.36-0.290.0719 
2015-07-21
2015-06-300.05-0.15-0.2400 
2015-04-21
2015-03-310.080.090.0112 
2015-01-20
2014-12-31-0.010.010.02200 
2014-10-21
2014-09-30-0.060.180.24400 
2014-07-22
2014-06-300.01-0.03-0.04400 
2014-04-22
2014-03-31-0.07-0.17-0.1142 
2014-01-22
2013-12-31-0.2-0.080.1260 
2013-10-23
2013-09-30-0.29-0.270.02
2013-07-24
2013-06-300.120.04-0.0866 
2013-04-24
2013-03-310.090.090.0
2013-01-23
2012-12-310.140.180.0428 
2012-10-24
2012-09-300.390.32-0.0717 
2012-07-25
2012-06-300.540.5-0.04
2012-04-25
2012-03-310.480.50.02
2012-01-25
2011-12-310.540.31-0.2342 
2011-10-26
2011-09-300.610.630.02
2011-07-27
2011-06-300.730.7-0.03
2011-04-27
2011-03-310.530.590.0611 
2011-01-26
2010-12-310.330.15-0.1854 
2010-10-26
2010-09-300.10.05-0.0550 
2010-07-28
2010-06-300.370.36-0.01
2010-04-28
2010-03-310.240.240.0
2010-01-27
2009-12-310.220.360.1463 
2009-10-21
2009-09-300.030.01-0.0266 
2009-07-22
2009-06-300.030.030.0
2009-04-22
2009-03-31-0.010.060.07700 
2009-01-21
2008-12-310.871.080.2124 
2008-10-22
2008-09-301.381.450.07
2008-07-23
2008-06-301.561.55-0.01
2008-04-23
2008-03-311.481.4-0.08
2008-01-23
2007-12-311.41.450.05
2007-10-24
2007-09-301.861.880.02
2007-07-25
2007-06-301.922.00.08
2007-04-25
2007-03-311.831.880.05
2007-01-24
2006-12-311.611.630.02
2006-10-25
2006-09-301.351.540.1914 
2006-07-26
2006-06-301.121.270.1513 
2006-04-26
2006-03-310.711.00.2940 
2006-01-25
2005-12-310.880.960.08
2005-10-26
2005-09-300.830.870.04
2005-07-27
2005-06-300.750.910.1621 
2005-04-21
2005-03-310.460.660.243 
2005-01-31
2004-12-310.340.350.01
2004-10-20
2004-09-300.060.090.0350 
2004-07-20
2004-06-30-0.15-0.17-0.0213 
2004-04-21
2004-03-31-0.6-0.63-0.03
2004-01-21
2003-12-31-0.35-0.43-0.0822 
2003-10-22
2003-09-30-0.34-0.320.02
2003-07-23
2003-06-30-0.29-0.32-0.0310 
2003-04-22
2003-03-31-0.34-0.320.02
2003-01-21
2002-12-31-0.11-0.13-0.0218 
2002-10-16
2002-09-30-0.04-0.040.0
2002-07-17
2002-06-30-0.07-0.09-0.0228 
2002-04-17
2002-03-31-0.13-0.14-0.01
2002-01-16
2001-12-310.040.02-0.0250 
2001-10-17
2001-09-300.120.1-0.0216 
2001-07-17
2001-06-300.10.120.0220 
2001-04-18
2001-03-310.070.080.0114 
2001-01-17
2000-12-310.350.32-0.03
2000-10-17
2000-09-300.480.520.04
2000-07-26
2000-06-300.460.530.0715 
2000-04-26
2000-03-310.350.470.1234 
2000-01-25
1999-12-310.260.22-0.0415 
1999-10-27
1999-09-300.380.40.02
1999-07-28
1999-06-300.670.66-0.01
1999-04-28
1999-03-310.640.660.02
1999-01-28
1998-12-310.710.780.07
1998-10-21
1998-09-300.620.660.04
1998-07-22
1998-06-300.80.80.0
1998-04-22
1998-03-310.80.7-0.112 
1998-01-21
1997-12-310.850.860.01
1997-10-22
1997-09-300.740.7-0.04
1997-07-23
1997-06-300.810.860.05
1997-04-23
1997-03-310.80.72-0.0810 
1997-01-22
1996-12-310.620.760.1422 
1996-10-23
1996-09-300.670.52-0.1522 
1996-07-23
1996-06-300.760.68-0.0810 
1996-04-23
1996-03-310.60.58-0.02

Allegheny Technologies Corporate Directors

John PipskiIndependent DirectorProfile
Marianne KahIndependent DirectorProfile
Carolyn CorviIndependent DirectorProfile
Herbert CarlisleIndependent DirectorProfile

Already Invested in Allegheny Technologies Incorporated?

The danger of trading Allegheny Technologies Incorporated is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Allegheny Technologies is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Allegheny Technologies. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Allegheny Technologies is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Allegheny Technologies offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Allegheny Technologies' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Allegheny Technologies Incorporated Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Allegheny Technologies Incorporated Stock:
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Allegheny Technologies Incorporated. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.
You can also try the Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
Is Metals & Mining space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Allegheny Technologies. If investors know Allegheny will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Allegheny Technologies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
0.449
Earnings Share
2.76
Revenue Per Share
33.242
Quarterly Revenue Growth
0.097
Return On Assets
0.0728
The market value of Allegheny Technologies is measured differently than its book value, which is the value of Allegheny that is recorded on the company's balance sheet. Investors also form their own opinion of Allegheny Technologies' value that differs from its market value or its book value, called intrinsic value, which is Allegheny Technologies' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Allegheny Technologies' market value can be influenced by many factors that don't directly affect Allegheny Technologies' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Allegheny Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Allegheny Technologies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Allegheny Technologies' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.