Arconic Inc (ARNC) Holdings Raised by Private Advisor Group LLC

Private Advisor Group LLC lifted its holdings in Arconic Inc (NYSE:ARNC) by 114.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,378 shares of the basic materials company’s stock after purchasing an additional 14,623 shares during the period. Private Advisor Group LLC’s holdings in Arconic were worth $603,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. WealthTrust Axiom LLC raised its position in Arconic by 4.2% in the 3rd quarter. WealthTrust Axiom LLC now owns 201,496 shares of the basic materials company’s stock valued at $4,434,000 after purchasing an additional 8,068 shares during the last quarter. Arizona State Retirement System increased its stake in Arconic by 4.3% in the 3rd quarter. Arizona State Retirement System now owns 243,861 shares of the basic materials company’s stock valued at $5,367,000 after buying an additional 9,943 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Arconic by 38.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 89,086 shares of the basic materials company’s stock valued at $1,961,000 after buying an additional 24,697 shares during the period. Alps Advisors Inc. increased its stake in Arconic by 19.5% in the 3rd quarter. Alps Advisors Inc. now owns 55,470 shares of the basic materials company’s stock valued at $1,221,000 after buying an additional 9,039 shares during the period. Finally, Reinhart Partners Inc. increased its stake in Arconic by 37.1% in the 3rd quarter. Reinhart Partners Inc. now owns 1,107,338 shares of the basic materials company’s stock valued at $24,373,000 after buying an additional 299,631 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Shares of ARNC opened at $20.49 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.16 and a current ratio of 2.03. The firm has a market capitalization of $9.90 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 0.78 and a beta of 1.22. Arconic Inc has a 1 year low of $16.47 and a 1 year high of $31.17.

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

The business also recently declared a quarterly dividend, which will be paid on Sunday, November 25th. Stockholders of record on Friday, November 2nd will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, November 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.17%. Arconic’s dividend payout ratio (DPR) is presently 19.67%.

ARNC has been the topic of several recent research reports. Cowen reissued a “hold” rating and issued a $15.00 price objective on shares of Arconic in a research note on Tuesday, July 31st. Jefferies Financial Group set a $25.00 price objective on shares of Arconic and gave the company a “buy” rating in a research note on Wednesday, August 1st. Zacks Investment Research raised shares of Arconic from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Friday, August 3rd. ValuEngine raised shares of Arconic from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 12th. Finally, Longbow Research cut shares of Arconic from a “buy” rating to a “neutral” rating in a research note on Monday, September 17th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Arconic currently has an average rating of “Hold” and an average price target of $24.20.

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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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