ING Groep NV purchased a new position in shares of Arconic Inc (NYSE:ARNC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 32,965 shares of the basic materials company’s stock, valued at approximately $726,000.

Other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its position in Arconic by 37.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 113,934 shares of the basic materials company’s stock valued at $1,937,000 after acquiring an additional 31,030 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Arconic in the 2nd quarter valued at approximately $244,000. Cornerstone Wealth Management LLC bought a new position in Arconic in the 2nd quarter valued at approximately $711,000. Douglas Lane & Associates LLC lifted its position in Arconic by 4.1% in the 2nd quarter. Douglas Lane & Associates LLC now owns 2,282,690 shares of the basic materials company’s stock valued at $38,829,000 after acquiring an additional 90,116 shares in the last quarter. Finally, Reinhart Partners Inc. lifted its position in Arconic by 8.8% in the 2nd quarter. Reinhart Partners Inc. now owns 807,707 shares of the basic materials company’s stock valued at $13,739,000 after acquiring an additional 65,507 shares in the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Several research firms recently issued reports on ARNC. Cowen reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Arconic in a research report on Tuesday, July 31st. Jefferies Financial Group set a $25.00 price target on Arconic and gave the company a “buy” rating in a report on Wednesday, August 1st. Zacks Investment Research cut Arconic from a “buy” rating to a “hold” rating in a report on Monday, August 13th. TheStreet raised Arconic from a “d+” rating to a “c-” rating in a report on Monday, October 15th. Finally, Morgan Stanley set a $22.00 price target on Arconic and gave the company a “hold” rating in a report on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Arconic presently has a consensus rating of “Hold” and a consensus price target of $24.20.

NYSE ARNC opened at $20.15 on Monday. The firm has a market cap of $9.74 billion, a PE ratio of 16.52, a PEG ratio of 0.77 and a beta of 1.22. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 1.19. Arconic Inc has a 1-year low of $16.47 and a 1-year high of $31.17.

Arconic (NYSE:ARNC) last released its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Arconic had a positive return on equity of 12.94% and a negative net margin of 2.19%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 EPS. As a group, analysts forecast that Arconic Inc will post 1.31 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, November 25th. Stockholders of record on Friday, November 2nd will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, November 1st. This represents a $0.24 annualized dividend and a dividend yield of 1.19%. Arconic’s payout ratio is 19.67%.

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Arconic Company Profile

Arconic Inc engineers, manufactures, and sells lightweight metals of aluminum, titanium, and nickel worldwide. It operates through three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions 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, as well as various forged, extruded, and machined metal products.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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