Achmea Investment Management B.V. decreased its holdings in Arconic Inc (NASDAQ:ARNC) by 79.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,367 shares of the basic materials company’s stock after selling 77,625 shares during the quarter. Achmea Investment Management B.V.’s holdings in Arconic were worth $461,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Arconic by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 42,988,420 shares of the basic materials company’s stock valued at $973,688,000 after acquiring an additional 1,111,404 shares during the period. Orbis Allan Gray Ltd boosted its stake in 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 worth $517,132,000 after purchasing an additional 7,696,839 shares during the period. Harris Associates L P boosted its stake in Arconic by 151.0% in the 2nd quarter. Harris Associates L P now owns 13,439,188 shares of the basic materials company’s stock worth $304,398,000 after purchasing an additional 8,084,588 shares during the period. Dimensional Fund Advisors LP boosted its stake in 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 worth $131,682,000 after purchasing an additional 1,468,173 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Arconic by 194.2% in the 2nd quarter. Prudential Financial Inc. now owns 1,859,878 shares of the basic materials company’s stock worth $42,126,000 after purchasing an additional 1,227,740 shares during the period.
In other Arconic news, Director Patricia F. Russo bought 15,000 shares of Arconic stock in a transaction on Tuesday, August 15th. The shares were bought at an average price of $24.57 per share, for a total transaction of $368,550.00. Following the completion of the transaction, the director now directly owns 7,928 shares of the company’s stock, valued at $194,790.96. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.
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A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Arconic from a “sell” rating to a “hold” rating in a research report on Friday. Morgan Stanley restated a “hold” rating and set a $27.00 price target on shares of Arconic in a report on Tuesday, October 24th. Vetr lowered Arconic from a “strong-buy” rating to a “buy” rating and set a $28.78 target price on the stock. in a research note on Tuesday, July 25th. Cowen and Company reiterated a “hold” rating and issued a $25.00 target price on shares of Arconic in a research note on Tuesday, October 31st. Finally, Deutsche Bank AG set a $31.00 target price on Arconic and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Arconic presently has an average rating of “Buy” and a consensus target price of $28.33.
Shares of Arconic Inc (NASDAQ:ARNC) traded down $0.21 during mid-day trading on Friday, reaching $24.24. The company had a trading volume of 2,386,700 shares, compared to its average volume of 4,220,323. Arconic Inc has a 52 week low of $18.31 and a 52 week high of $30.69.
Arconic (NASDAQ:ARNC) last posted its quarterly earnings data on Monday, October 23rd. The basic materials company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.02). The business had revenue of $3.24 billion during 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 business’s revenue was up 3.1% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, November 25th. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Thursday, November 2nd. Arconic’s dividend payout ratio (DPR) is currently -11.21%.
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.
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