Heritage Investors Management Corp lowered its holdings in Arconic Inc (NYSE:ARNC) by 10.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,965 shares of the basic materials company’s stock after selling 9,443 shares during the period. Heritage Investors Management Corp’s holdings in Arconic were worth $2,430,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BLB&B Advisors LLC increased its position in shares of Arconic by 3.2% in the third quarter. BLB&B Advisors LLC now owns 14,020 shares of the basic materials company’s stock worth $365,000 after acquiring an additional 439 shares in the last quarter. Dupont Capital Management Corp boosted its holdings in shares of Arconic by 7.6% during the third quarter. Dupont Capital Management Corp now owns 7,000 shares of the basic materials company’s stock worth $182,000 after purchasing an additional 496 shares during the period. Rational Advisors LLC boosted its holdings in shares of Arconic by 147.3% during the third quarter. Rational Advisors LLC now owns 1,291 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 769 shares during the period. Strs Ohio boosted its holdings in shares of Arconic by 1.5% during the third quarter. Strs Ohio now owns 58,436 shares of the basic materials company’s stock worth $1,519,000 after purchasing an additional 861 shares during the period. Finally, Wetherby Asset Management Inc. boosted its holdings in shares of Arconic by 9.3% during the third quarter. Wetherby Asset Management Inc. now owns 10,622 shares of the basic materials company’s stock worth $276,000 after purchasing an additional 907 shares during the period. 83.80% of the stock is currently owned by institutional investors.
Shares of Arconic stock opened at $29.58 on Wednesday. The firm has a market capitalization of $12.78 billion, a PE ratio of 21.75 and a beta of 1.49. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.32 and a quick ratio of 0.75. The company’s fifty day moving average price is $30.93 and its two-hundred day moving average price is $27.60. Arconic Inc has a 52-week low of $16.12 and a 52-week high of $31.99.
Arconic (NYSE:ARNC) last announced its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.59 billion. Arconic had a net margin of 2.66% and a return on equity of 17.87%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. Analysts predict that Arconic Inc will post 2.13 earnings per share for the current fiscal year.
In related news, Director James F. Albaugh purchased 5,000 shares of Arconic stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average price of $29.50 per share, for a total transaction of $147,500.00. Following the transaction, the director now directly owns 29,486 shares in the company, valued at $869,837. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy Donald Myers sold 29,849 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $30.82, for a total transaction of $919,946.18. Following the transaction, the executive vice president now owns 28,925 shares in the company, valued at approximately $891,468.50. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.
A number of brokerages have recently weighed in on ARNC. Berenberg Bank began coverage on shares of Arconic in a research note on Tuesday, October 8th. They issued a “buy” rating for the company. Credit Suisse Group boosted their price objective on shares of Arconic from $28.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. ValuEngine cut shares of Arconic from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Arconic from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Cowen raised shares of Arconic from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $26.00 to $31.00 in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $29.88.
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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