Anchor Capital Advisors LLC Has $10.85 Million Position in Arconic Inc (ARNC)

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.

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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.

About Arconic

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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Institutional Ownership by Quarter for Arconic (NASDAQ:ARNC)

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