Tocqueville Asset Management L.P. raised its holdings in shares of Arconic Inc (NYSE:ARNC) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 693,176 shares of the basic materials company’s stock after acquiring an additional 20,472 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 0.14% of Arconic worth $18,889,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in ARNC. Lazard Asset Management LLC purchased a new position in Arconic during the 4th quarter valued at about $167,000. Bluestein R H & Co. purchased a new position in Arconic during the 4th quarter valued at about $204,000. Fox Run Management L.L.C. purchased a new position in Arconic during the 4th quarter valued at about $205,000. National Planning Corp purchased a new position in Arconic during the 3rd quarter valued at about $206,000. Finally, Pitcairn Co. purchased a new position in Arconic during the 3rd quarter valued at about $209,000. 80.81% of the stock is currently owned by institutional investors.
In related news, Director David P. Hess bought 40,300 shares of Arconic stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average cost of $24.80 per share, for a total transaction of $999,440.00. Following the acquisition, the director now owns 127,870 shares in the company, valued at $3,171,176. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.12% of the stock is currently owned by insiders.
Several equities research analysts recently commented on ARNC shares. Zacks Investment Research raised Arconic from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Wells Fargo & Co started coverage on Arconic in a research note on Thursday, January 4th. They issued an “outperform” rating and a $35.00 price target for the company. Morgan Stanley reissued a “hold” rating and issued a $28.00 price target (down previously from $30.00) on shares of Arconic in a research note on Friday, February 23rd. Seaport Global Securities reissued a “buy” rating and issued a $33.00 price target on shares of Arconic in a research note on Monday, January 22nd. Finally, Cowen reissued a “hold” rating and issued a $25.00 price target on shares of Arconic in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Arconic currently has an average rating of “Hold” and an average target price of $29.89.
Arconic Inc (NYSE ARNC) traded down $0.89 on Wednesday, reaching $24.06. The company had a trading volume of 5,138,067 shares, compared to its average volume of 4,490,000. Arconic Inc has a 12-month low of $21.75 and a 12-month high of $31.17. The company has a current ratio of 2.26, a quick ratio of 1.38 and a debt-to-equity ratio of 1.40. The firm has a market cap of $11,620.00, a price-to-earnings ratio of 72.91, a P/E/G ratio of 0.83 and a beta of 1.09.
Arconic (NYSE:ARNC) last posted its earnings results on Monday, February 5th. The basic materials company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.07. Arconic had a positive return on equity of 11.29% and a negative net margin of 0.57%. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the company earned $0.12 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. research analysts expect that Arconic Inc will post 1.5 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 4th will be issued a $0.06 dividend. The ex-dividend date is Thursday, May 3rd. This represents a $0.24 annualized dividend and a yield of 1.00%. Arconic’s dividend payout ratio (DPR) is currently 72.73%.
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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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