Arconic Inc (ARNC) Holdings Lifted by Anchor Capital Advisors LLC
Anchor Capital Advisors LLC grew its holdings in Arconic Inc (NYSE:ARNC) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 440,709 shares of the basic materials company’s stock after buying an additional 4,436 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Arconic were worth $12,009,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Savant Capital LLC increased its stake in shares of Arconic by 20.0% in the fourth quarter. Savant Capital LLC now owns 11,667 shares of the basic materials company’s stock valued at $318,000 after buying an additional 1,948 shares in the last quarter. Andra AP fonden increased its stake in shares of Arconic by 2.0% in the third quarter. Andra AP fonden now owns 127,900 shares of the basic materials company’s stock valued at $3,182,000 after buying an additional 2,500 shares in the last quarter. Ray Gerald L & Associates Ltd. increased its stake in shares of Arconic by 10.5% in the third quarter. Ray Gerald L & Associates Ltd. now owns 29,532 shares of the basic materials company’s stock valued at $735,000 after buying an additional 2,800 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Arconic by 15.2% in the second quarter. Dynamic Technology Lab Private Ltd now owns 22,322 shares of the basic materials company’s stock valued at $506,000 after buying an additional 2,949 shares in the last quarter. Finally, Aperio Group LLC increased its stake in shares of Arconic by 2.9% in the fourth quarter. Aperio Group LLC now owns 106,288 shares of the basic materials company’s stock valued at $2,896,000 after buying an additional 2,972 shares in the last quarter. Institutional investors own 74.58% of the company’s stock.
Arconic Inc (NYSE:ARNC) opened at $24.66 on Friday. The stock has a market capitalization of $11,870.00, a PE ratio of -94.85, a P/E/G ratio of 0.84 and a beta of 0.93. Arconic Inc has a 1-year low of $21.75 and a 1-year high of $31.17. The company has a quick ratio of 1.38, a current ratio of 2.26 and a debt-to-equity ratio of 1.40.
The company also recently declared a quarterly dividend, which will be paid on Sunday, February 25th. Investors of record on Friday, February 2nd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, February 1st. Arconic’s dividend payout ratio is -92.31%.
In other news, Director David P. Hess purchased 40,300 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average price of $24.80 per share, for a total transaction of $999,440.00. Following the completion of the acquisition, the director now directly owns 127,870 shares in the company, valued at $3,171,176. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.12% of the stock is owned by company insiders.
A number of analysts have recently weighed in on the company. Seaport Global Securities restated a “buy” rating and issued a $32.00 target price on shares of Arconic in a research note on Tuesday. Cowen restated a “hold” rating and issued a $25.00 target price on shares of Arconic in a research note on Thursday, February 1st. Wells Fargo & Co assumed coverage on Arconic in a research note on Thursday, January 4th. They issued an “outperform” rating and a $35.00 target price for the company. Zacks Investment Research upgraded Arconic from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Finally, Deutsche Bank set a $31.00 target price on Arconic and gave the company a “buy” rating in a research note on Tuesday, October 24th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Arconic has a consensus rating of “Buy” and an average price target of $29.77.
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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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