Janus Henderson Group PLC raised its holdings in Arconic Inc. (NYSE:ARNC) by 74.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,645 shares of the basic materials company’s stock after buying an additional 61,340 shares during the period. Janus Henderson Group PLC’s holdings in Arconic were worth $3,574,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the business. Fiduciary Trust Co. purchased a new stake in Arconic in the 2nd quarter valued at approximately $111,000. Capstone Investment Advisors Netherlands B.V. boosted its holdings in Arconic by 47.9% in the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,950 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 1,604 shares in the last quarter. Huntington National Bank acquired a new stake in shares of Arconic during the 3rd quarter valued at approximately $132,000. National Planning Corp acquired a new stake in shares of Arconic during the 3rd quarter valued at approximately $206,000. Finally, Pitcairn Co. acquired a new stake in shares of Arconic during the 3rd quarter valued at approximately $209,000. 74.62% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently issued reports on ARNC shares. Zacks Investment Research downgraded shares of Arconic from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Vetr upgraded Arconic from a “hold” rating to a “buy” rating and set a $27.97 price objective for the company in a research report on Tuesday, October 17th. Cowen restated a “hold” rating and set a $25.00 price objective on shares of Arconic in a research report on Thursday, October 19th. Seaport Global Securities reiterated a “buy” rating and issued a $29.00 price target (up from $27.00) on shares of Arconic in a report on Tuesday, September 26th. Finally, Wells Fargo & Co began coverage on Arconic in a report on Thursday, January 4th. They issued an “outperform” rating and a $35.00 price target for the company. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $29.44.
Shares of Arconic Inc. (NYSE ARNC) opened at $30.84 on Friday. Arconic Inc. has a 12-month low of $20.50 and a 12-month high of $30.90. The company has a current ratio of 2.30, a quick ratio of 1.38 and a debt-to-equity ratio of 1.15. The firm has a market cap of $14,840.00, a price-to-earnings ratio of -14.34, a P/E/G ratio of 4.13 and a beta of 0.85.
Arconic (NYSE:ARNC) last issued its quarterly earnings data on Monday, October 23rd. The basic materials company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The firm 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 company’s quarterly revenue was up 3.1% on a year-over-year basis. analysts anticipate that Arconic Inc. will post 1.15 earnings per share for the current year.
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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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