Arconic Inc (ARNC) Stake Lessened by Strs Ohio

Strs Ohio reduced its stake in Arconic Inc (NYSE:ARNC) by 24.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 32,587 shares of the basic materials company’s stock after selling 10,805 shares during the quarter. Strs Ohio’s holdings in Arconic were worth $549,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ARNC. Bank of Montreal Can increased its stake in Arconic by 40.3% in the third quarter. Bank of Montreal Can now owns 189,682 shares of the basic materials company’s stock valued at $4,175,000 after acquiring an additional 54,525 shares during the period. Aperio Group LLC increased its stake in Arconic by 49.2% in the third quarter. Aperio Group LLC now owns 169,955 shares of the basic materials company’s stock valued at $3,741,000 after acquiring an additional 56,026 shares during the period. Cornerstone Wealth Management LLC increased its stake in Arconic by 166.8% in the third quarter. Cornerstone Wealth Management LLC now owns 31,996 shares of the basic materials company’s stock valued at $1,168,000 after acquiring an additional 20,004 shares during the period. Guardian Investment Management increased its stake in Arconic by 7.5% in the third quarter. Guardian Investment Management now owns 33,687 shares of the basic materials company’s stock valued at $742,000 after acquiring an additional 2,355 shares during the period. Finally, IFM Investors Pty Ltd increased its stake in Arconic by 14.4% in the third quarter. IFM Investors Pty Ltd now owns 23,466 shares of the basic materials company’s stock valued at $516,000 after acquiring an additional 2,953 shares during the period. 83.82% of the stock is currently owned by institutional investors.

ARNC has been the topic of a number of research reports. TheStreet upgraded shares of Arconic from a “d+” rating to a “c-” rating in a research report on Monday, October 15th. Zacks Investment Research upgraded shares of Arconic from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Cowen reiterated a “hold” rating and set a $20.00 target price on shares of Arconic in a research report on Friday. Jefferies Financial Group set a $25.00 target price on shares of Arconic and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Finally, JPMorgan Chase & Co. lowered shares of Arconic from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $24.00 to $22.00 in a research report on Monday, January 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $23.48.

NYSE ARNC traded up $0.74 during trading hours on Monday, hitting $17.84. The company’s stock had a trading volume of 88,856 shares, compared to its average volume of 8,135,224. Arconic Inc has a twelve month low of $15.63 and a twelve month high of $25.87. The firm has a market capitalization of $8.26 billion, a P/E ratio of 13.11 and a beta of 1.48. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.03 and a quick ratio of 1.16.

Arconic (NYSE:ARNC) last issued its quarterly earnings data on Friday, February 8th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.03. Arconic had a net margin of 4.58% and a return on equity of 12.91%. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. Sell-side analysts expect that Arconic Inc will post 1.59 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, February 25th. Shareholders of record on Friday, February 8th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Thursday, February 7th. Arconic’s dividend payout ratio is currently 17.65%.

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Arconic Profile

Arconic Inc engineers, manufactures, and sells lightweight metals worldwide. The company operate in 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 for aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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