Arconic Inc (ARNC) Position Raised by Gotham Asset Management LLC

Gotham Asset Management LLC boosted its position in shares of Arconic Inc (NASDAQ:ARNC) by 5.1% during the first quarter, Holdings Channel reports. The fund owned 928,522 shares of the basic materials company’s stock after buying an additional 44,994 shares during the period. Gotham Asset Management LLC owned approximately 0.21% of Arconic worth $24,457,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARNC. Cleararc Capital Inc. raised its stake in shares of Arconic by 1.3% in the first quarter. Cleararc Capital Inc. now owns 10,787 shares of the basic materials company’s stock valued at $284,000 after buying an additional 141 shares during the period. Stratos Wealth Partners LTD. raised its stake in shares of Arconic by 1.8% in the first quarter. Stratos Wealth Partners LTD. now owns 11,914 shares of the basic materials company’s stock valued at $314,000 after buying an additional 210 shares during the period. Pacer Advisors Inc. raised its stake in shares of Arconic by 3.3% in the first quarter. Pacer Advisors Inc. now owns 8,956 shares of the basic materials company’s stock valued at $236,000 after buying an additional 286 shares during the period. Advantus Capital Management Inc raised its stake in shares of Arconic by 1.2% in the first quarter. Advantus Capital Management Inc now owns 44,275 shares of the basic materials company’s stock valued at $1,166,000 after buying an additional 546 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Arconic by 0.6% in the first quarter. Arizona State Retirement System now owns 109,070 shares of the basic materials company’s stock valued at $2,873,000 after buying an additional 700 shares during the period.

Institutional Ownership by Quarter for Arconic (NASDAQ:ARNC)

Arconic Inc (NASDAQ ARNC) traded down 1.01% during trading on Friday, reaching $26.43. 3,239,804 shares of the company’s stock traded hands. Arconic Inc has a 1-year low of $16.75 and a 1-year high of $30.69. The firm has a 50 day moving average of $27.34 and a 200 day moving average of $25.18. The firm’s market capitalization is $11.65 billion.

Arconic (NASDAQ:ARNC) last released its quarterly earnings results on Tuesday, April 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3 billion. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. Equities analysts forecast that Arconic Inc will post $1.17 EPS for the current year.

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Several brokerages have recently issued reports on ARNC. Morgan Stanley reiterated an “equal weight” rating and issued a $28.00 target price on shares of Arconic in a research report on Tuesday. Vetr lowered shares of Arconic from a “strong-buy” rating to a “buy” rating and set a $31.00 target price on the stock. in a research report on Thursday, June 1st. Zacks Investment Research lowered shares of Arconic from a “buy” rating to a “hold” rating in a research report on Monday, May 8th. J P Morgan Chase & Co lowered shares of Arconic to a “neutral” rating and set a $30.00 price target on the stock. in a research report on Wednesday, April 26th. Finally, Deutsche Bank AG restated a “buy” rating and set a $32.00 price target on shares of Arconic in a research report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Arconic has an average rating of “Hold” and an average target price of $26.56.

In related news, Director Christopher L. Ayers bought 7,325 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average cost of $27.31 per share, with a total value of $200,045.75. Following the completion of the transaction, the director now owns 7,425 shares of the company’s stock, valued at $202,776.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Patrice E. Merrin bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average cost of $27.17 per share, for a total transaction of $271,700.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $135,850. The disclosure for this purchase can be found here.

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.

Want to see what other hedge funds are holding ARNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arconic Inc (NASDAQ:ARNC).

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