Arconic Inc (ARNC) Short Interest Up 19.2% in January

Arconic Inc (NYSE:ARNC) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 16,615,890 shares, an increase of 19.2% from the January 15th total of 13,940,074 shares. Approximately 3.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 9,592,047 shares, the short-interest ratio is currently 1.7 days.

ARNC has been the topic of a number of research reports. Zacks Investment Research lowered Arconic from a “strong-buy” rating to a “sell” rating in a report on Tuesday, January 15th. Cowen reiterated a “hold” rating and issued a $20.00 price target on shares of Arconic in a research note on Friday, February 8th. Jefferies Financial Group set a $25.00 price target on shares of Arconic and gave the stock a “buy” rating in a report on Wednesday, October 31st. ValuEngine cut Arconic from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 22nd. Finally, JPMorgan Chase & Co. downgraded Arconic from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $24.00 to $22.00 in a research report on Monday, January 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $23.48.

ARNC opened at $17.89 on Thursday. The firm has a market cap of $8.73 billion, a PE ratio of 13.15 and a beta of 1.48. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 1.19. Arconic has a twelve month low of $15.63 and a twelve month high of $25.87.

Arconic (NYSE:ARNC) last released its quarterly earnings results on Friday, February 8th. The basic materials company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Arconic had a return on equity of 12.91% and a net margin of 4.58%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 EPS. As a group, research analysts anticipate that Arconic will post 1.59 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, February 25th. Investors of record on Friday, February 8th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, February 7th. Arconic’s dividend payout ratio (DPR) is presently 17.65%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nissay Asset Management Corp Japan ADV boosted its holdings in Arconic by 3.2% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 37,679 shares of the basic materials company’s stock valued at $635,000 after acquiring an additional 1,186 shares during the period. Advisor Group Inc. boosted its position in Arconic by 7.8% in the fourth quarter. Advisor Group Inc. now owns 18,474 shares of the basic materials company’s stock valued at $311,000 after buying an additional 1,331 shares in the last quarter. Creative Planning boosted its stake in Arconic by 15.3% in the fourth quarter. Creative Planning now owns 12,890 shares of the basic materials company’s stock valued at $217,000 after acquiring an additional 1,713 shares during the last quarter. Guardian Investment Management lifted its position in shares of Arconic by 7.5% in the 3rd quarter. Guardian Investment Management now owns 33,687 shares of the basic materials company’s stock worth $742,000 after purchasing an additional 2,355 shares during the period. Finally, Alambic Investment Management L.P. lifted its holdings in Arconic by 11.3% during the third quarter. Alambic Investment Management L.P. now owns 26,500 shares of the basic materials company’s stock valued at $583,000 after purchasing an additional 2,700 shares in the last quarter. Institutional investors own 83.82% of the company’s stock.

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Arconic Company Profile

Arconic Inc engineers, manufactures, and sells lightweight metals worldwide. The company operate in three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions produces and sells fastening systems and seamless rolled rings; investment castings, including airfoils and forged jet engine components; and extruded, machined, and formed aircraft parts for aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets.

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