Ontario Teachers Pension Plan Board Sells 51,553 Shares of Arconic Inc (NYSE:ARNC)

Ontario Teachers Pension Plan Board decreased its stake in Arconic Inc (NYSE:ARNC) by 57.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,640 shares of the basic materials company’s stock after selling 51,553 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Arconic were worth $621,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Arconic by 4.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 396,762 shares of the basic materials company’s stock valued at $7,583,000 after purchasing an additional 15,182 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Arconic by 5.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 26,655 shares of the basic materials company’s stock valued at $820,000 after purchasing an additional 1,300 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Arconic by 8.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 183,826 shares of the basic materials company’s stock valued at $5,656,000 after purchasing an additional 14,687 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Arconic by 14.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 387,470 shares of the basic materials company’s stock valued at $11,922,000 after purchasing an additional 48,176 shares during the last quarter. Finally, CENTRAL TRUST Co grew its holdings in shares of Arconic by 59.6% during the 4th quarter. CENTRAL TRUST Co now owns 8,266 shares of the basic materials company’s stock valued at $254,000 after purchasing an additional 3,087 shares during the last quarter. 1.42% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Katherine H. Ramundo sold 32,733 shares of Arconic stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $30.57, for a total transaction of $1,000,647.81. Following the completion of the transaction, the executive vice president now directly owns 123,209 shares of the company’s stock, valued at approximately $3,766,499.13. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Erick R. Asmussen purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $11.28 per share, with a total value of $225,600.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 63,200 shares of company stock valued at $704,996. Corporate insiders own 0.14% of the company’s stock.

Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Arconic from a “sell” rating to a “hold” rating and set a $19.00 target price on the stock in a report on Tuesday, March 10th. Credit Suisse Group started coverage on shares of Arconic in a report on Wednesday. They issued an “outperform” rating and a $22.00 price target on the stock. Barclays lowered shares of Arconic from an “overweight” rating to an “equal weight” rating and set a $17.00 price target on the stock. in a report on Friday, March 20th. TheStreet lowered shares of Arconic from a “b” rating to a “c+” rating in a report on Monday, February 3rd. Finally, Argus raised shares of Arconic from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Arconic has an average rating of “Hold” and a consensus price target of $27.22.

NYSE:ARNC opened at $12.84 on Friday. The company has a 50-day moving average price of $8.87 and a 200-day moving average price of $23.72. Arconic Inc has a 12 month low of $5.80 and a 12 month high of $15.00. The company has a quick ratio of 0.46, a current ratio of 2.28 and a debt-to-equity ratio of 0.87.

Arconic Company Profile

Arconic Inc engineers, manufactures, and sells lightweight metals worldwide. The company operate in three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions segment 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 for aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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