Arconic Inc (ARNC) Holdings Lowered by Global X Management Co. LLC

Global X Management Co. LLC cut its position in Arconic Inc (NYSE:ARNC) by 94.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,248 shares of the basic materials company’s stock after selling 178,013 shares during the period. Global X Management Co. LLC’s holdings in Arconic were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Arconic by 430,450.0% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 8,611 shares of the basic materials company’s stock valued at $235,000 after purchasing an additional 8,609 shares during the last quarter. Global Financial Private Capital LLC purchased a new position in shares of Arconic in the 4th quarter valued at $515,000. Toronto Dominion Bank grew its position in shares of Arconic by 22.4% in the 4th quarter. Toronto Dominion Bank now owns 182,208 shares of the basic materials company’s stock valued at $4,965,000 after buying an additional 33,301 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Arconic by 9.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 393,394 shares of the basic materials company’s stock valued at $10,720,000 after buying an additional 35,537 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Arconic by 21.6% in the 4th quarter. Wells Fargo & Company MN now owns 7,787,687 shares of the basic materials company’s stock valued at $212,215,000 after buying an additional 1,385,628 shares during the last quarter. 74.85% of the stock is currently owned by institutional investors.

In other Arconic news, Director David P. Hess acquired 40,300 shares of the stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of $24.80 per share, with a total value of $999,440.00. Following the transaction, the director now owns 127,870 shares of the company’s stock, valued at approximately $3,171,176. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.12% of the company’s stock.

Arconic Inc (NYSE ARNC) opened at $25.13 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.26 and a quick ratio of 1.38. The company has a market cap of $12,100.00, a price-to-earnings ratio of -96.65, a P/E/G ratio of 0.82 and a beta of 0.93. Arconic Inc has a 52-week low of $21.75 and a 52-week high of $31.17.

Arconic (NYSE:ARNC) last issued its quarterly earnings data on Monday, February 5th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.07. Arconic had a negative net margin of 0.57% and a positive return on equity of 11.29%. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm posted $0.12 EPS. Arconic’s revenue for the quarter was up 10.2% on a year-over-year basis. research analysts predict that Arconic Inc will post 1.5 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 4th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.96%. The ex-dividend date is Thursday, May 3rd. Arconic’s payout ratio is currently -92.31%.

A number of research firms recently commented on ARNC. Morgan Stanley set a $28.00 target price on shares of Arconic and gave the company a “hold” rating in a research report on Friday. Seaport Global Securities reaffirmed a “buy” rating and issued a $32.00 target price on shares of Arconic in a research report on Tuesday, February 6th. Cowen reaffirmed a “hold” rating and issued a $25.00 target price on shares of Arconic in a research report on Thursday, February 1st. Zacks Investment Research downgraded shares of Arconic from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, Wells Fargo & Co began coverage on shares of Arconic in a research report on Thursday, January 4th. They issued an “outperform” rating and a $35.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Arconic has an average rating of “Buy” and a consensus target price of $29.89.

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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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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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