Sicart Associates LLC purchased a new stake in Arconic Inc. (NYSE:ARNC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,366 shares of the basic materials company’s stock, valued at approximately $337,000.
Other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB boosted its position in shares of Arconic by 41.2% during the 3rd quarter. Nordea Investment Management AB now owns 146,279 shares of the basic materials company’s stock valued at $3,639,000 after purchasing an additional 42,702 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in Arconic by 15.2% in the second quarter. Dynamic Technology Lab Private Ltd now owns 22,322 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 2,949 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Arconic by 74.5% in the third quarter. Janus Henderson Group PLC now owns 143,645 shares of the basic materials company’s stock worth $3,574,000 after acquiring an additional 61,340 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Arconic by 24.6% in the second quarter. Toronto Dominion Bank now owns 150,125 shares of the basic materials company’s stock worth $3,399,000 after acquiring an additional 29,635 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Arconic by 7.5% in the third quarter. Cubist Systematic Strategies LLC now owns 121,200 shares of the basic materials company’s stock worth $3,015,000 after acquiring an additional 8,501 shares in the last quarter. Institutional investors own 74.62% of the company’s stock.
ARNC has been the topic of several recent research reports. Zacks Investment Research lowered Arconic from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Vetr upgraded Arconic from a “hold” rating to a “buy” rating and set a $27.97 price target on the stock in a report on Tuesday, October 17th. Cowen reiterated a “hold” rating and issued a $25.00 price target on shares of Arconic in a report on Thursday, October 19th. Seaport Global Securities reiterated a “buy” rating and issued a $29.00 price target (up previously from $27.00) on shares of Arconic in a report on Tuesday, September 26th. Finally, Wells Fargo & Co initiated coverage on Arconic in a report on Thursday, January 4th. They issued an “outperform” rating and a $35.00 price target on the stock. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $29.44.
Shares of Arconic Inc. (NYSE ARNC) traded up $0.09 during trading on Wednesday, hitting $30.50. The stock had a trading volume of 1,717,328 shares, compared to its average volume of 3,907,730. The stock has a market capitalization of $14,660.00, a P/E ratio of -14.19, a PEG ratio of 1.05 and a beta of 0.85. Arconic Inc. has a 12-month low of $20.58 and a 12-month high of $31.17. The company has a current ratio of 2.30, a quick ratio of 1.38 and a debt-to-equity ratio of 1.15.
Arconic (NYSE:ARNC) last issued its quarterly earnings data on Monday, October 23rd. The basic materials company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Arconic had a positive return on equity of 9.71% and a negative net margin of 4.70%. Arconic’s revenue was up 3.1% compared to the same quarter last year. equities analysts expect that Arconic Inc. will post 1.15 EPS for the current fiscal year.
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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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