Daiwa Securities Group Inc. increased its position in shares of Arconic Inc (NYSE:ARNC) by 7.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,655 shares of the basic materials company’s stock after buying an additional 4,737 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Arconic were worth $1,762,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Huntington National Bank purchased a new position in Arconic during the 3rd quarter worth approximately $132,000. Fox Run Management L.L.C. purchased a new position in Arconic during the 4th quarter worth approximately $205,000. UMB Bank N A MO purchased a new position in Arconic during the 4th quarter worth approximately $212,000. National Planning Corp purchased a new position in Arconic during the 3rd quarter worth approximately $206,000. Finally, NTV Asset Management LLC purchased a new position in Arconic during the 4th quarter worth approximately $220,000. Hedge funds and other institutional investors own 74.55% of the company’s stock.
Shares of Arconic Inc (NYSE ARNC) opened at $25.22 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.26 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $12,266.49, a P/E ratio of -114.64, a PEG ratio of 0.85 and a beta of 0.93. Arconic Inc has a 1-year low of $21.75 and a 1-year high of $31.17.
Arconic (NYSE:ARNC) last posted its quarterly earnings results on Monday, February 5th. The basic materials company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.24 by $0.07. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Arconic had a positive return on equity of 11.29% and a negative net margin of 0.57%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.12 EPS. sell-side analysts anticipate that Arconic Inc will post 1.5 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, February 25th. Stockholders of record on Friday, February 2nd will be issued a $0.06 dividend. The ex-dividend date is Thursday, February 1st. This represents a $0.24 annualized dividend and a dividend yield of 0.95%. Arconic’s dividend payout ratio is currently -109.09%.
ARNC has been the topic of several analyst reports. Zacks Investment Research upgraded Arconic from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Wells Fargo & Co initiated coverage on Arconic in a research note on Thursday, January 4th. They issued an “outperform” rating and a $35.00 target price on the stock. Cowen reiterated a “hold” rating and issued a $25.00 target price on shares of Arconic in a research note on Wednesday, January 3rd. Vetr downgraded Arconic from a “buy” rating to a “hold” rating and set a $27.97 target price on the stock. in a research note on Monday, October 23rd. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $33.00 target price on shares of Arconic in a research note on Monday, January 22nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $29.77.
In other Arconic news, Director David P. Hess purchased 40,300 shares of Arconic stock in a transaction dated Thursday, February 8th. The stock was acquired at an average cost of $24.80 per share, with a total value of $999,440.00. Following the acquisition, the director now directly owns 127,870 shares of the company’s stock, valued at $3,171,176. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.12% of the stock is owned by company insiders.
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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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