SG Americas Securities LLC increased its stake in Arconic Inc (NYSE:ARNC) by 105.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 335,898 shares of the basic materials company’s stock after buying an additional 172,083 shares during the quarter. SG Americas Securities LLC owned approximately 0.08% of Arconic worth $8,733,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARNC. BLB&B Advisors LLC increased its position in Arconic by 3.2% during the 3rd quarter. BLB&B Advisors LLC now owns 14,020 shares of the basic materials company’s stock worth $365,000 after buying an additional 439 shares during the period. Dupont Capital Management Corp increased its position in Arconic by 7.6% during the 3rd quarter. Dupont Capital Management Corp now owns 7,000 shares of the basic materials company’s stock worth $182,000 after buying an additional 496 shares during the period. Nisa Investment Advisors LLC increased its position in Arconic by 2.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 25,355 shares of the basic materials company’s stock worth $655,000 after buying an additional 500 shares during the period. Strs Ohio increased its position in Arconic by 1.5% during the 3rd quarter. Strs Ohio now owns 58,436 shares of the basic materials company’s stock worth $1,519,000 after buying an additional 861 shares during the period. Finally, Wetherby Asset Management Inc. increased its position in Arconic by 9.3% during the 3rd quarter. Wetherby Asset Management Inc. now owns 10,622 shares of the basic materials company’s stock worth $276,000 after buying an additional 907 shares during the period. 82.17% of the stock is owned by institutional investors.
In other Arconic news, insider Timothy Donald Myers sold 10,000 shares of Arconic stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $25.33, for a total value of $253,300.00. Following the transaction, the insider now owns 23,759 shares in the company, valued at $601,815.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder International L.P. Elliott sold 1,805,903 shares of Arconic stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $24.94, for a total value of $45,039,220.82. Following the completion of the transaction, the insider now owns 32,306,412 shares in the company, valued at approximately $805,721,915.28. The disclosure for this sale can be found here. Insiders sold 7,205,556 shares of company stock worth $179,707,601 in the last 90 days. 0.14% of the stock is owned by company insiders.
Shares of NYSE ARNC traded up $0.06 during mid-day trading on Friday, reaching $28.97. The company had a trading volume of 1,923,208 shares, compared to its average volume of 4,155,049. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.94 and a current ratio of 1.32. Arconic Inc has a one year low of $15.63 and a one year high of $29.55. The firm has a market cap of $12.99 billion, a price-to-earnings ratio of 21.30 and a beta of 1.49. The business’s 50-day simple moving average is $26.84 and its 200 day simple moving average is $24.83.
Arconic (NYSE:ARNC) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. Arconic had a return on equity of 17.87% and a net margin of 2.66%. The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter last year, the business earned $0.32 earnings per share. Arconic’s revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that Arconic Inc will post 2.07 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Thursday, November 7th. Arconic’s payout ratio is currently 5.88%.
Several research analysts have weighed in on the company. Cowen upgraded Arconic from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $26.00 to $31.00 in a research report on Monday, October 14th. JPMorgan Chase & Co. upgraded Arconic from a “neutral” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research report on Monday, October 7th. ValuEngine cut Arconic from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. TheStreet upgraded Arconic from a “c” rating to a “b” rating in a research report on Tuesday, November 5th. Finally, Longbow Research cut Arconic from a “buy” rating to a “neutral” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.47.
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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