Commonwealth Equity Services LLC Acquires 944 Shares of Arconic Co. (NYSE:ARNC)

Commonwealth Equity Services LLC increased its position in Arconic Co. (NYSE:ARNC) by 9.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,493 shares of the basic materials company’s stock after purchasing an additional 944 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Arconic were worth $330,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in Arconic by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 1,085,677 shares of the basic materials company’s stock worth $38,670,000 after purchasing an additional 50,901 shares in the last quarter. Texas Permanent School Fund grew its stake in Arconic by 10.9% in the third quarter. Texas Permanent School Fund now owns 80,910 shares of the basic materials company’s stock worth $2,552,000 after purchasing an additional 7,931 shares in the last quarter. Invesco Ltd. grew its stake in Arconic by 30.4% in the second quarter. Invesco Ltd. now owns 675,168 shares of the basic materials company’s stock worth $24,050,000 after purchasing an additional 157,286 shares in the last quarter. SG Americas Securities LLC grew its stake in Arconic by 74.5% in the second quarter. SG Americas Securities LLC now owns 38,044 shares of the basic materials company’s stock worth $1,355,000 after purchasing an additional 16,245 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Arconic by 7.9% in the second quarter. Northern Trust Corp now owns 1,516,760 shares of the basic materials company’s stock worth $54,027,000 after purchasing an additional 111,627 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

Shares of ARNC opened at $34.93 on Friday. Arconic Co. has a 12 month low of $21.80 and a 12 month high of $38.49. The stock has a fifty day moving average price of $31.72 and a 200-day moving average price of $32.77. The company has a current ratio of 1.57, a quick ratio of 0.78 and a debt-to-equity ratio of 1.01. The firm has a market cap of $3.72 billion, a PE ratio of -9.03 and a beta of 2.66.

Arconic (NYSE:ARNC) last issued its quarterly earnings data on Tuesday, November 2nd. The basic materials company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.37). Arconic had a negative net margin of 6.20% and a positive return on equity of 6.53%. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the company posted $0.05 EPS. As a group, research analysts forecast that Arconic Co. will post 3.2 EPS for the current year.

Several brokerages recently issued reports on ARNC. Deutsche Bank Aktiengesellschaft dropped their price objective on Arconic from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, November 4th. Zacks Investment Research upgraded Arconic from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Tuesday, January 4th. TheStreet upgraded Arconic from a “d” rating to a “c” rating in a report on Wednesday, October 13th. Wolfe Research assumed coverage on Arconic in a report on Tuesday, November 16th. They set an “outperform” rating and a $42.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded Arconic from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $35.00 to $40.00 in a report on Friday, December 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $40.20.

Arconic Company Profile

Arconic Corporation manufactures and sells aluminum sheets, plates, extrusions, and architectural products in the United States, Canada, China, France, Germany, Hungary, Russia, and the United Kingdom. It operates through three segments: Rolled Products, Extrusions, and Building and Construction Systems.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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