Andra AP fonden lifted its stake in shares of Arconic Inc (NASDAQ:ARNC) by 16.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 125,400 shares of the basic materials company’s stock after buying an additional 17,300 shares during the quarter. Andra AP fonden’s holdings in Arconic were worth $2,840,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Arconic by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 41,877,016 shares of the basic materials company’s stock valued at $1,103,040,000 after buying an additional 1,559,763 shares during the period. Harris Associates L P purchased a new stake in shares of Arconic during the 1st quarter valued at about $141,040,000. Geode Capital Management LLC raised its holdings in shares of Arconic by 9.0% during the 1st quarter. Geode Capital Management LLC now owns 4,323,347 shares of the basic materials company’s stock valued at $113,717,000 after buying an additional 356,550 shares during the period. Legal & General Group Plc raised its holdings in shares of Arconic by 6.4% during the 1st quarter. Legal & General Group Plc now owns 2,256,253 shares of the basic materials company’s stock valued at $59,427,000 after buying an additional 135,341 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Arconic by 194.2% during the 2nd quarter. Prudential Financial Inc. now owns 1,859,878 shares of the basic materials company’s stock valued at $42,126,000 after buying an additional 1,227,740 shares during the period.
Shares of Arconic Inc (ARNC) traded down 0.08% during midday trading on Friday, reaching $25.34. The company’s stock had a trading volume of 10,943,546 shares. The stock’s 50-day moving average is $24.94 and its 200 day moving average is $25.99. Arconic Inc has a 12 month low of $16.75 and a 12 month high of $30.69. The stock’s market capitalization is $11.18 billion.
Arconic (NASDAQ:ARNC) last posted its quarterly earnings data on Monday, July 24th. The basic materials company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.06. Arconic had a return on equity of 14.01% and a net margin of 6.50%. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.18 billion. The business’s quarterly revenue was up .8% compared to the same quarter last year. On average, analysts expect that Arconic Inc will post $1.18 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 4th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, August 2nd. This represents a $0.24 annualized dividend and a dividend yield of 0.95%.
In other news, Director Elmer L. Doty purchased 6,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was purchased at an average price of $24.51 per share, with a total value of $147,060.00. Following the acquisition, the director now directly owns 4,409 shares in the company, valued at approximately $108,064.59. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James F. Albaugh purchased 5,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was purchased at an average cost of $24.94 per share, with a total value of $124,700.00. Following the acquisition, the director now owns 9,409 shares in the company, valued at $234,660.46. The disclosure for this purchase can be found here. Insiders have purchased a total of 26,000 shares of company stock valued at $640,310 in the last three months.
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Several brokerages recently commented on ARNC. Deutsche Bank AG reiterated a “buy” rating on shares of Arconic in a report on Saturday, June 24th. Vetr upgraded Arconic from a “sell” rating to a “hold” rating and set a $27.00 target price on the stock in a report on Monday, May 29th. J P Morgan Chase & Co upgraded Arconic from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $30.00 to $29.00 in a research note on Monday, July 10th. Seaport Global Securities upgraded Arconic from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, July 13th. Finally, Zacks Investment Research upgraded Arconic from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $27.25.
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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