HBK Investments L P raised its stake in Arconic Inc (NYSE:ARNC) by 92.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,520,700 shares of the basic materials company’s stock after purchasing an additional 728,900 shares during the period. Arconic accounts for 0.4% of HBK Investments L P’s holdings, making the stock its 18th biggest holding. HBK Investments L P owned 0.32% of Arconic worth $41,439,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC bought a new stake in shares of Arconic during the fourth quarter worth about $142,000. Lazard Asset Management LLC bought a new stake in shares of Arconic during the fourth quarter worth about $167,000. Bluestein R H & Co. bought a new stake in shares of Arconic during the fourth quarter worth about $204,000. Fox Run Management L.L.C. bought a new stake in shares of Arconic during the fourth quarter worth about $205,000. Finally, National Planning Corp bought a new stake in shares of Arconic during the third quarter worth about $206,000. 80.81% of the stock is owned by hedge funds and other institutional investors.
Arconic Inc (NYSE:ARNC) opened at $25.19 on Monday. Arconic Inc has a twelve month low of $21.75 and a twelve month high of $31.17. The firm has a market cap of $12,161.03, a PE ratio of -114.50, a P/E/G ratio of 0.84 and a beta of 1.09. The company has a current ratio of 2.26, a quick ratio of 1.38 and a debt-to-equity ratio of 1.40.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 4th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, May 3rd. Arconic’s dividend payout ratio (DPR) is presently -109.09%.
Several research firms have recently commented on ARNC. Cowen reissued a “hold” rating and set a $25.00 target price on shares of Arconic in a research report on Thursday, February 1st. Seaport Global Securities reissued a “buy” rating and set a $32.00 target price on shares of Arconic in a research report on Tuesday, February 6th. Morgan Stanley reissued a “hold” rating and set a $28.00 target price (down from $30.00) on shares of Arconic in a research report on Friday, February 23rd. Wells Fargo & Co began coverage on shares of Arconic in a research report on Thursday, January 4th. They set an “outperform” rating and a $35.00 target price for the company. Finally, Zacks Investment Research downgraded shares of Arconic from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Arconic presently has a consensus rating of “Buy” and a consensus price target of $29.89.
In other news, Director David P. Hess purchased 40,300 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average cost of $24.80 per share, for a total transaction of $999,440.00. Following the completion of the acquisition, the director now owns 127,870 shares in the company, valued at $3,171,176. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.12% of the stock is currently owned by insiders.
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Arconic Inc, formerly Alcoa Inc, is engaged in lightweight metals engineering and manufacturing. The Company operates through three segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. Its multi-material products, which include aluminum, titanium and nickel, are used around the world in markets, such as aerospace, automotive, commercial transportation and packaging.
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