Two Sigma Advisers LP increased its position in Arconic Inc (NYSE:ARNC) by 89.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,061,426 shares of the basic materials company’s stock after purchasing an additional 976,128 shares during the quarter. Two Sigma Advisers LP owned approximately 0.43% of Arconic worth $56,174,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Prime Capital Investment Advisors LLC purchased a new stake in Arconic during the fourth quarter worth $142,000. Lazard Asset Management LLC purchased a new stake in Arconic during the fourth quarter worth $167,000. Bluestein R H & Co. purchased a new stake in Arconic during the fourth quarter worth $204,000. Fox Run Management L.L.C. purchased a new stake in Arconic during the fourth quarter worth $205,000. Finally, National Planning Corp purchased a new stake in Arconic during the third quarter worth $206,000. 80.81% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on the company. Zacks Investment Research lowered Arconic from a “hold” rating to a “sell” rating in a report on Tuesday. Seaport Global Securities restated a “buy” rating and set a $32.00 target price on shares of Arconic in a report on Tuesday, February 6th. Morgan Stanley restated a “hold” rating and set a $28.00 target price (down previously from $30.00) on shares of Arconic in a report on Friday, February 23rd. Cowen reiterated a “hold” rating and set a $25.00 price objective on shares of Arconic in a report on Thursday, February 1st. Finally, Wells Fargo & Co began coverage on Arconic in a report on Thursday, January 4th. They set an “outperform” rating and a $35.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Arconic has an average rating of “Hold” and a consensus price target of $29.89.
Shares of Arconic Inc (ARNC) opened at $24.06 on Thursday. Arconic Inc has a twelve month low of $21.75 and a twelve month high of $31.17. The company has a current ratio of 2.26, a quick ratio of 1.38 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $11,620.00, a price-to-earnings ratio of 72.91, a PEG ratio of 0.83 and a beta of 1.09.
Arconic (NYSE:ARNC) last issued its quarterly earnings data on Monday, February 5th. The basic materials company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.24 by $0.07. Arconic had a positive return on equity of 11.29% and a negative net margin of 0.57%. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the business posted $0.12 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. sell-side analysts expect that Arconic Inc will post 1.5 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 4th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, May 3rd. This represents a $0.24 annualized dividend and a dividend yield of 1.00%. Arconic’s dividend payout ratio is presently 72.73%.
In other Arconic news, Director David P. Hess acquired 40,300 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was purchased at an average price of $24.80 per share, for a total transaction of $999,440.00. Following the acquisition, the director now owns 127,870 shares in the company, valued at approximately $3,171,176. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.12% of the company’s stock.
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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.
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