Arconic Inc (NASDAQ:ARNC) Shares Sold by Oakbrook Investments LLC

Oakbrook Investments LLC cut its position in shares of Arconic Inc (NASDAQ:ARNC) by 15.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 33,663 shares of the basic materials company’s stock after selling 6,000 shares during the quarter. Oakbrook Investments LLC’s holdings in Arconic were worth $838,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of ARNC. Vanguard Group Inc. boosted its position in shares of Arconic by 2.7% in the second quarter. Vanguard Group Inc. now owns 42,988,420 shares of the basic materials company’s stock worth $973,688,000 after buying an additional 1,111,404 shares during the period. Orbis Allan Gray Ltd increased its stake in shares of Arconic by 50.9% in the second 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 increased its stake in shares of Arconic by 151.0% in 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 purchasing an additional 8,084,588 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Arconic by 33.8% in the second 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. increased its stake in shares of Arconic by 194.2% in the second 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.

Several equities research analysts have recently weighed in on the company. Vetr downgraded Arconic from a “strong-buy” rating to a “buy” rating and set a $28.78 target price on the stock. in a report on Tuesday, July 25th. Longbow Research upgraded shares of Arconic from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Tuesday, August 22nd. Zacks Investment Research upgraded shares of Arconic from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Tuesday, September 12th. BidaskClub upgraded shares of Arconic from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $29.00 target price (up from $27.00) on shares of Arconic in a report on Tuesday, September 26th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $28.33.

Arconic Inc (NASDAQ:ARNC) traded down $0.21 on Friday, reaching $24.24. 2,386,700 shares of the company’s stock were exchanged, 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 issued its quarterly earnings results 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). Arconic had a return on equity of 7.07% and a net margin of 3.68%. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.09 billion. Arconic’s revenue for the quarter was up 3.1% on a year-over-year basis.

The company 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. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.24 dividend on an annualized basis and a yield of 0.99%. Arconic’s dividend payout ratio is currently -11.21%.

In other news, Director Patricia F. Russo acquired 15,000 shares of Arconic stock in a transaction on Tuesday, August 15th. The stock was acquired at an average cost of $24.57 per share, for a total transaction of $368,550.00. Following the purchase, the director now owns 7,928 shares in the company, valued at $194,790.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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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.

Institutional Ownership by Quarter for Arconic (NASDAQ:ARNC)

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