Investors Sell Shares of Arconic Inc. (ARNC) on Strength (ARNC)

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.

WARNING: “Investors Sell Shares of Arconic Inc. (ARNC) on Strength (ARNC)” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright legislation. The original version of this piece can be read at https://ledgergazette.com/2017/11/17/investors-sell-shares-of-arconic-inc-arnc-on-strength-arnc.html.

About Arconic

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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