Tocqueville Asset Management L.P. increased its position in Arconic Inc (NYSE:ARNC) by 3.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 693,176 shares of the basic materials company’s stock after buying an additional 20,472 shares during the period. Tocqueville Asset Management L.P. owned about 0.14% of Arconic worth $18,889,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of ARNC. BlackRock Inc. boosted its holdings in Arconic by 6.5% in the 4th quarter. BlackRock Inc. now owns 32,715,258 shares of the basic materials company’s stock worth $891,490,000 after buying an additional 2,002,712 shares during the period. Wells Fargo & Company MN lifted its stake in Arconic by 21.6% in the 4th quarter. Wells Fargo & Company MN now owns 7,787,687 shares of the basic materials company’s stock worth $212,215,000 after purchasing an additional 1,385,628 shares in the last quarter. Boston Partners lifted its stake in Arconic by 567.2% in the 4th quarter. Boston Partners now owns 917,725 shares of the basic materials company’s stock worth $25,008,000 after purchasing an additional 780,173 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in Arconic by 40.9% in the 4th quarter. Allianz Asset Management GmbH now owns 1,856,926 shares of the basic materials company’s stock worth $50,602,000 after purchasing an additional 538,558 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Arconic by 19.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,180,104 shares of the basic materials company’s stock worth $86,658,000 after purchasing an additional 508,065 shares in the last quarter. 80.81% of the stock is owned by institutional investors.
Several analysts have commented on the stock. Seaport Global Securities reiterated a “buy” rating and issued a $33.00 price target on shares of Arconic in a research note on Monday, January 22nd. Cowen reiterated a “hold” rating and issued a $25.00 price target on shares of Arconic in a research note on Thursday, February 1st. Wells Fargo & Co assumed coverage on shares of Arconic in a research note on Thursday, January 4th. They issued an “outperform” rating and a $35.00 price target on the stock. Zacks Investment Research upgraded shares of Arconic from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Finally, Morgan Stanley reiterated a “hold” rating and issued a $28.00 price target (down previously from $30.00) on shares of Arconic in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $29.89.
In other Arconic news, Director David P. Hess bought 40,300 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were purchased at an average cost of $24.80 per share, for a total transaction of $999,440.00. Following the transaction, the director now owns 127,870 shares of the company’s stock, valued at $3,171,176. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.12% of the stock is currently owned by corporate insiders.
Shares of Arconic Inc (ARNC) traded down $0.89 during midday trading on Wednesday, hitting $24.06. 5,138,067 shares of the stock traded hands, compared to its average volume of 4,490,000. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.26 and a quick ratio of 1.38. The stock has a market cap of $11,620.00, a PE ratio of 72.91, a price-to-earnings-growth ratio of 0.83 and a beta of 1.09. Arconic Inc has a 52-week low of $21.75 and a 52-week high of $31.17.
Arconic (NYSE:ARNC) last announced its earnings results on Monday, February 5th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.07. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Arconic had a negative net margin of 0.57% and a positive return on equity of 11.29%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 EPS. equities analysts forecast that Arconic Inc will post 1.5 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 4th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, May 3rd. Arconic’s dividend payout ratio is 72.73%.
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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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