Traders sold shares of Arconic Inc. (NYSE:ARNC) on strength during trading hours on Wednesday. $9.13 million flowed into the stock on the tick-up and $29.74 million flowed out of the stock on the tick-down, for a money net flow of $20.61 million out of the stock. Of all stocks tracked, Arconic had the 0th highest net out-flow for the day. Arconic traded up $0.16 for the day and closed at $23.36
Several analysts have recently commented on ARNC shares. Vetr lowered shares of Arconic from a “strong-buy” rating to a “buy” rating and set a $28.78 price target on the stock. in a research report on Tuesday, July 25th. Longbow Research upgraded shares of Arconic from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a report on Tuesday, August 22nd. Zacks Investment Research upgraded shares of Arconic from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Tuesday, September 12th. BidaskClub upgraded shares of Arconic from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $29.00 target price (up previously from $27.00) on shares of Arconic in a report on Tuesday, September 26th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $28.33.
The stock has a market cap of $11,470.00, a P/E ratio of 22.90 and a beta of 0.88. The company has a quick ratio of 1.38, a current ratio of 2.30 and a debt-to-equity ratio of 1.15.
Arconic (NYSE:ARNC) last posted its quarterly earnings results on Monday, October 23rd. The basic materials company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.09 billion. Arconic had a positive return on equity of 9.71% and a negative net margin of 4.70%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. analysts anticipate that Arconic Inc. will post 1.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, November 25th. Shareholders of record on Friday, November 3rd will be paid a $0.06 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.24 annualized dividend and a dividend yield of 1.01%. Arconic’s dividend payout ratio (DPR) is -11.21%.
Large investors have recently bought and sold shares of the business. Fiduciary Trust Co. acquired a new position in shares of Arconic during the second quarter worth $111,000. Capstone Investment Advisors Netherlands B.V. grew its stake in shares of Arconic by 47.9% during the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,950 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 1,604 shares in the last quarter. Huntington National Bank acquired a new position in shares of Arconic during the third quarter worth $132,000. National Planning Corp acquired a new position in shares of Arconic during the third quarter worth $206,000. Finally, Pitcairn Co. acquired a new position in shares of Arconic during the third quarter worth $209,000. Institutional investors and hedge funds own 72.06% of the company’s stock.
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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