Arconic Inc. (ARNC) Shares Bought by Tredje AP fonden
Tredje AP fonden lifted its stake in Arconic Inc. (NYSE:ARNC) by 20.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,573 shares of the basic materials company’s stock after acquiring an additional 8,820 shares during the quarter. Tredje AP fonden’s holdings in Arconic were worth $1,308,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Fiduciary Trust Co. bought a new stake in Arconic during the second quarter valued at approximately $111,000. Capstone Investment Advisors Netherlands B.V. grew its position in Arconic by 47.9% during the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,950 shares of the basic materials company’s stock valued at $112,000 after buying an additional 1,604 shares during the period. Huntington National Bank bought a new stake in Arconic during the third quarter valued at approximately $132,000. Pitcairn Co. bought a new stake in Arconic during the third quarter valued at approximately $209,000. Finally, Courier Capital LLC bought a new stake in Arconic during the third quarter valued at approximately $214,000. Hedge funds and other institutional investors own 74.71% of the company’s stock.
Arconic Inc. (NYSE:ARNC) opened at $24.59 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.38 and a debt-to-equity ratio of 1.15. Arconic Inc. has a 1-year low of $18.47 and a 1-year high of $30.69. The firm has a market cap of $11,614.35, a P/E ratio of 23.66 and a beta of 0.85.
Arconic (NYSE:ARNC) last issued its quarterly earnings results on Monday, October 23rd. The basic materials company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). Arconic had a negative net margin of 4.70% and a positive return on equity of 9.71%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.09 billion. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. equities research analysts forecast that Arconic Inc. will post 1.16 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, November 25th. Stockholders of record on Friday, November 3rd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Thursday, November 2nd. Arconic’s dividend payout ratio (DPR) is presently -15.09%.
Several brokerages recently issued reports on ARNC. Cowen restated a “hold” rating and set a $25.00 target price on shares of Arconic in a research report on Tuesday, October 31st. Zacks Investment Research lowered shares of Arconic from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Vetr upgraded shares of Arconic from a “hold” rating to a “buy” rating and set a $27.97 target price for the company in a research report on Tuesday, October 17th. Seaport Global Securities reaffirmed a “buy” rating and set a $29.00 price target (up previously from $27.00) on shares of Arconic in a report on Tuesday, September 26th. Finally, Longbow Research raised shares of Arconic from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Tuesday, August 22nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Arconic has a consensus rating of “Buy” and an average target price of $28.33.
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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.
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