Financial Counselors Inc. trimmed its position in Arconic Inc (NYSE:ARNC) by 10.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,841 shares of the basic materials company’s stock after selling 2,662 shares during the quarter. Financial Counselors Inc.’s holdings in Arconic were worth $481,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlueMountain Capital Management LLC acquired a new position in shares of Arconic in the second quarter worth about $104,000. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Arconic by 198.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 7,300 shares of the basic materials company’s stock worth $124,000 after buying an additional 4,850 shares during the period. Highstreet Asset Management Inc. boosted its holdings in shares of Arconic by 1,475.0% in the second quarter. Highstreet Asset Management Inc. now owns 8,442 shares of the basic materials company’s stock worth $144,000 after buying an additional 7,906 shares during the period. UMB Bank N A MO acquired a new position in shares of Arconic in the third quarter worth about $208,000. Finally, Cerebellum GP LLC acquired a new position in shares of Arconic in the second quarter worth about $168,000. Institutional investors own 82.95% of the company’s stock.
ARNC stock opened at $21.16 on Friday. The company has a quick ratio of 1.15, a current ratio of 2.03 and a debt-to-equity ratio of 1.19. The company has a market cap of $10.22 billion, a P/E ratio of 15.79, a P/E/G ratio of 0.81 and a beta of 1.22. Arconic Inc has a 52 week low of $16.47 and a 52 week high of $31.17.
Arconic (NYSE:ARNC) last posted its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Arconic had a negative net margin of 2.19% and a positive return on equity of 12.94%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. As a group, analysts anticipate that Arconic Inc will post 1.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, November 25th. Investors of record on Friday, November 2nd will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, November 1st. Arconic’s dividend payout ratio is currently 19.67%.
Several brokerages have commented on ARNC. Zacks Investment Research upgraded shares of Arconic from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 11th. Seaport Global Securities reiterated a “buy” rating on shares of Arconic in a report on Wednesday, July 18th. TheStreet upgraded shares of Arconic from a “d+” rating to a “c-” rating in a report on Monday, October 15th. Jefferies Financial Group set a $25.00 target price on shares of Arconic and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, Cowen reiterated a “hold” rating and issued a $15.00 target price on shares of Arconic in a report on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $24.20.
Arconic Company Profile
Arconic Inc engineers, manufactures, and sells lightweight metals of aluminum, titanium, and nickel worldwide. It operates through three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions produces and sells fastening systems and seamless rolled rings; investment castings, including airfoils and forged jet engine components; and extruded, machined, and formed aircraft parts, as well as various forged, extruded, and machined metal products.
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