Anchor Capital Advisors LLC increased its holdings in Arconic Inc (NASDAQ:ARNC) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 436,273 shares of the basic materials company’s stock after purchasing an additional 3,436 shares during the quarter. Anchor Capital Advisors LLC owned 0.09% of Arconic worth $10,854,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Harris Associates L P boosted its position in shares of Arconic by 151.0% during the second quarter. Harris Associates L P now owns 13,439,188 shares of the basic materials company’s stock worth $304,398,000 after acquiring an additional 8,084,588 shares during the last quarter. Orbis Allan Gray Ltd boosted its holdings in shares of Arconic by 50.9% in the 2nd quarter. Orbis Allan Gray Ltd now owns 22,812,295 shares of the basic materials company’s stock valued at $517,132,000 after buying an additional 7,696,839 shares in the last quarter. Permian Investment Partners LP bought a new stake in shares of Arconic in the 2nd quarter valued at about $34,975,000. Dimensional Fund Advisors LP boosted its holdings in shares of Arconic by 33.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,813,376 shares of the basic materials company’s stock valued at $131,682,000 after buying an additional 1,468,173 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of Arconic by 194.2% in the 2nd quarter. Prudential Financial Inc. now owns 1,859,878 shares of the basic materials company’s stock valued at $42,126,000 after buying an additional 1,227,740 shares in the last quarter.
ILLEGAL ACTIVITY WARNING: “Anchor Capital Advisors LLC Has $10.85 Million Position in Arconic Inc (ARNC)” was first published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this story on another publication, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be viewed at https://www.chaffeybreeze.com/2017/11/14/anchor-capital-advisors-llc-has-10-85-million-position-in-arconic-inc-arnc.html.
Arconic Inc (NASDAQ ARNC) traded down $0.37 on Tuesday, reaching $23.42. 522,825 shares of the company’s stock were exchanged, compared to its average volume of 4,213,995. Arconic Inc has a 12 month low of $18.47 and a 12 month high of $30.69.
Arconic (NASDAQ:ARNC) last posted its earnings results on Monday, October 23rd. The basic materials company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Arconic had a net margin of 3.68% and a return on equity of 7.07%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Saturday, November 25th. Stockholders of record on Friday, November 3rd will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Thursday, November 2nd. Arconic’s dividend payout ratio (DPR) is -11.21%.
A number of research firms have recently weighed in on ARNC. Cowen and Company restated a “hold” rating and issued a $25.00 price target on shares of Arconic in a report on Tuesday, October 31st. Vetr cut shares of Arconic from a “strong-buy” rating to a “buy” rating and set a $28.78 price target on the stock. in a report on Tuesday, July 25th. Zacks Investment Research cut shares of Arconic from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Seaport Global Securities restated a “buy” rating and issued a $29.00 price target (up from $27.00) on shares of Arconic in a report on Tuesday, September 26th. Finally, Longbow Research upgraded shares of Arconic from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Tuesday, August 22nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Arconic has an average rating of “Buy” and a consensus target price of $28.33.
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).
Receive News & Ratings for Arconic Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arconic Inc and related companies with MarketBeat.com's FREE daily email newsletter.