Robeco Institutional Asset Management B.V. lifted its holdings in shares of Arconic Inc (NYSE:ARNC) by 611.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 372,487 shares of the basic materials company’s stock after acquiring an additional 320,116 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.08% of Arconic worth $7,116,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC raised its holdings in Arconic by 1,397.5% in the 1st quarter. CWM LLC now owns 1,827 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 1,705 shares in the last quarter. Osborn Williams & Donohoe LLC acquired a new position in shares of Arconic during the 1st quarter worth $39,000. Liberty Wealth Management LLC raised its holdings in shares of Arconic by 3,808.2% during the 1st quarter. Liberty Wealth Management LLC now owns 1,915 shares of the basic materials company’s stock worth $36,000 after buying an additional 1,866 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Arconic by 560.9% during the 1st quarter. Parallel Advisors LLC now owns 2,280 shares of the basic materials company’s stock worth $44,000 after buying an additional 1,935 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its holdings in shares of Arconic by 4,194.9% during the 1st quarter. FNY Investment Advisers LLC now owns 3,350 shares of the basic materials company’s stock worth $64,000 after buying an additional 3,272 shares in the last quarter. Institutional investors own 89.14% of the company’s stock.
In related news, Chairman John C. Plant purchased 105,000 shares of Arconic stock in a transaction on Thursday, March 7th. The shares were purchased at an average price of $18.51 per share, for a total transaction of $1,943,550.00. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rajiv Gupta purchased 22,603 shares of Arconic stock in a transaction on Thursday, May 2nd. The stock was bought at an average price of $22.10 per share, for a total transaction of $499,526.30. Following the transaction, the director now directly owns 38,420 shares in the company, valued at approximately $849,082. The disclosure for this purchase can be found here. Insiders have purchased a total of 352,603 shares of company stock worth $6,798,776 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.
Shares of ARNC stock opened at $22.01 on Thursday. The firm has a market cap of $9.65 billion, a P/E ratio of 16.18 and a beta of 1.53. Arconic Inc has a twelve month low of $15.63 and a twelve month high of $23.60. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.94 and a current ratio of 1.65.
Arconic (NYSE:ARNC) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.53 billion. Arconic had a return on equity of 13.53% and a net margin of 4.86%. Arconic’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. Equities research analysts expect that Arconic Inc will post 1.79 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, May 25th. Investors of record on Friday, May 3rd will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.08 dividend on an annualized basis and a yield of 0.36%. Arconic’s dividend payout ratio is currently 5.88%.
ARNC has been the subject of a number of research analyst reports. Goldman Sachs Group raised Arconic from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $21.00 to $26.00 in a report on Thursday, May 2nd. Zacks Investment Research raised Arconic from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Monday, March 18th. Cowen reissued a “hold” rating and set a $20.00 price target on shares of Arconic in a report on Friday, February 8th. Finally, ValuEngine raised Arconic from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Arconic presently has an average rating of “Buy” and an average target price of $22.61.
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 segment 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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