Arconic Inc (NASDAQ:ARNC) Director Elmer L. Doty bought 6,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were bought at an average cost of $24.51 per share, for a total transaction of $147,060.00. Following the purchase, the director now directly owns 4,409 shares in the company, valued at approximately $108,064.59. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of Arconic Inc (NASDAQ:ARNC) traded down 2.56% on Thursday, reaching $24.02. 2,755,688 shares of the company were exchanged. Arconic Inc has a 52 week low of $16.75 and a 52 week high of $30.69. The company’s market capitalization is $10.59 billion. The company’s 50-day moving average is $24.43 and its 200-day moving average is $26.32.

Arconic (NASDAQ:ARNC) last issued its earnings results on Monday, July 24th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.06. Arconic had a net margin of 6.50% and a return on equity of 14.01%. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Arconic’s revenue was up .8% on a year-over-year basis. On average, equities analysts expect that Arconic Inc will post $1.19 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 4th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, August 2nd.

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A number of hedge funds and other institutional investors have recently modified their holdings of ARNC. Tricadia Capital Management LLC acquired a new position in shares of Arconic during the first quarter valued at about $8,179,000. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Arconic by 76.9% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 89,052 shares of the basic materials company’s stock valued at $2,346,000 after buying an additional 38,702 shares during the last quarter. Levin Capital Strategies L.P. boosted its position in shares of Arconic by 11.3% in the first quarter. Levin Capital Strategies L.P. now owns 48,323 shares of the basic materials company’s stock valued at $1,273,000 after buying an additional 4,890 shares during the last quarter. Condor Capital Management boosted its position in shares of Arconic by 42.5% in the first quarter. Condor Capital Management now owns 32,441 shares of the basic materials company’s stock valued at $855,000 after buying an additional 9,682 shares during the last quarter. Finally, Quantitative Investment Management LLC boosted its position in shares of Arconic by 21.7% in the first quarter. Quantitative Investment Management LLC now owns 441,800 shares of the basic materials company’s stock valued at $11,637,000 after buying an additional 78,700 shares during the last quarter.

ARNC has been the topic of a number of research reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $32.00 target price on shares of Arconic in a research note on Wednesday, April 19th. Vetr lowered shares of Arconic from a “strong-buy” rating to a “buy” rating and set a $29.73 target price on the stock. in a research note on Tuesday, April 25th. Zacks Investment Research raised shares of Arconic from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Tuesday, June 20th. Seaport Global Securities raised shares of Arconic from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Thursday, July 13th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $28.00 target price on shares of Arconic in a research note on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $26.88.

Arconic Company Profile

Arconic Inc, formerly Alcoa Inc, is engaged in lightweight metals engineering and manufacturing. The Company operates through three segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. Its multi-material products, which include aluminum, titanium and nickel, are used around the world in markets, such as aerospace, automotive, commercial transportation and packaging.

Insider Buying and Selling by Quarter for Arconic (NASDAQ:ARNC)

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