Commonwealth Equity Services LLC grew its stake in Arconic Inc (NYSE:ARNC) by 22.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 86,189 shares of the basic materials company’s stock after buying an additional 15,675 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Arconic were worth $1,453,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC increased its holdings in Arconic by 114.6% during the 3rd quarter. Private Advisor Group LLC now owns 27,378 shares of the basic materials company’s stock worth $603,000 after acquiring an additional 14,623 shares during the period. Janney Montgomery Scott LLC increased its holdings in Arconic by 22.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 143,254 shares of the basic materials company’s stock worth $3,153,000 after acquiring an additional 26,277 shares during the period. Skandinaviska Enskilda Banken AB publ increased its holdings in Arconic by 9.8% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 58,133 shares of the basic materials company’s stock worth $1,280,000 after acquiring an additional 5,200 shares during the period. ING Groep NV bought a new stake in Arconic during the 3rd quarter worth approximately $726,000. Finally, SG Americas Securities LLC increased its holdings in Arconic by 4.6% during the 3rd quarter. SG Americas Securities LLC now owns 245,561 shares of the basic materials company’s stock worth $5,405,000 after acquiring an additional 10,757 shares during the period. Institutional investors and hedge funds own 82.24% of the company’s stock.
In other Arconic news, Chairman John C. Plant acquired 105,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $18.67 per share, with a total value of $1,960,350.00. Following the purchase, the chairman now owns 28,282 shares of the company’s stock, valued at $528,024.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders acquired 280,000 shares of company stock valued at $5,192,250. Corporate insiders own 0.17% of the company’s stock.
ARNC has been the topic of a number of analyst reports. Cowen reaffirmed a “hold” rating and set a $20.00 target price on shares of Arconic in a report on Friday, February 8th. ValuEngine lowered shares of Arconic from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 22nd. JPMorgan Chase & Co. lowered shares of Arconic from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $24.00 to $22.00 in a report on Monday, January 14th. Longbow Research raised shares of Arconic from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $23.25 to $18.26 in a report on Thursday, December 20th. Finally, Zacks Investment Research raised shares of Arconic from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a report on Thursday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Arconic presently has a consensus rating of “Hold” and a consensus price target of $23.48.
ARNC stock opened at $18.99 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.87 and a quick ratio of 1.16. Arconic Inc has a one year low of $15.63 and a one year high of $24.68. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 13.96 and a beta of 1.48.
Arconic (NYSE:ARNC) last released its quarterly earnings results on Friday, February 8th. The basic materials company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.03. Arconic had a net margin of 4.58% and a return on equity of 12.73%. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the company earned $0.31 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that Arconic Inc will post 1.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, May 25th. Shareholders of record on Friday, May 3rd will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.08 dividend on an annualized basis and a yield of 0.42%. Arconic’s dividend payout ratio is presently 17.65%.
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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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