Caisse DE Depot ET Placement DU Quebec trimmed its position in shares of Arconic Inc (NYSE:ARNC) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,640 shares of the basic materials company’s stock after selling 6,460 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Arconic were worth $3,233,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of ARNC. MML Investors Services LLC purchased a new stake in Arconic in the 4th quarter worth $216,000. Amundi Pioneer Asset Management Inc. purchased a new stake in Arconic in the 4th quarter worth $11,976,000. Bluestein R H & Co. purchased a new stake in Arconic in the 4th quarter worth $204,000. WINTON GROUP Ltd purchased a new stake in Arconic in the 4th quarter worth $1,203,000. Finally, Geode Capital Management LLC increased its holdings in Arconic by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 4,498,113 shares of the basic materials company’s stock worth $122,322,000 after acquiring an additional 412,226 shares in the last quarter. 80.81% of the stock is owned by hedge funds and other institutional investors.
Shares of Arconic Inc (NYSE ARNC) opened at $24.93 on Tuesday. The stock has a market cap of $12,161.03, a PE ratio of 20.82, a P/E/G ratio of 0.84 and a beta of 1.09. Arconic Inc has a fifty-two week low of $21.75 and a fifty-two week high of $31.17. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.26 and a quick ratio of 1.38.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 4th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, May 3rd. This represents a $0.24 dividend on an annualized basis and a yield of 0.96%. Arconic’s dividend payout ratio (DPR) is presently -109.09%.
In other Arconic news, Director David P. Hess purchased 40,300 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of $24.80 per share, for a total transaction of $999,440.00. Following the completion of the purchase, the director now directly owns 127,870 shares of the company’s stock, valued at $3,171,176. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.12% of the stock is owned by corporate insiders.
Several brokerages have issued reports on ARNC. Seaport Global Securities reaffirmed a “buy” rating and set a $33.00 target price on shares of Arconic in a research note on Monday, January 22nd. Morgan Stanley reaffirmed a “hold” rating and set a $28.00 target price (down previously from $30.00) on shares of Arconic in a research note on Friday, February 23rd. Zacks Investment Research raised shares of Arconic from a “sell” rating to a “hold” rating in a research note on Monday, December 18th. Wells Fargo & Co began coverage on shares of Arconic in a research note on Thursday, January 4th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, Cowen reaffirmed a “hold” rating and set a $25.00 target price on shares of Arconic in a research note on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Arconic currently has a consensus rating of “Buy” and an average price target of $29.89.
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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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