Lowe Wealth Advisors LLC Has $172,000 Position in Arconic Inc (ARNC)

Lowe Wealth Advisors LLC continued to hold its stake in Arconic Inc (NASDAQ:ARNC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,600 shares of the basic materials company’s stock at the end of the second quarter. Lowe Wealth Advisors LLC’s holdings in Arconic were worth $172,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Arconic by 3.9% in the first 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 position in shares of Arconic during the first quarter valued at $141,040,000. Geode Capital Management LLC increased its position in shares of Arconic by 9.0% in the first 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 increased its position in shares of Arconic by 6.4% in the first 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, Schwab Charles Investment Management Inc. increased its position in shares of Arconic by 12.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,482,297 shares of the basic materials company’s stock valued at $39,044,000 after buying an additional 162,219 shares during the period.

Arconic Inc (NASDAQ:ARNC) traded up 2.686% during trading on Monday, hitting $25.045. 3,364,695 shares of the stock traded hands. Arconic Inc has a 52 week low of $16.75 and a 52 week high of $30.69. The firm’s 50-day moving average is $26.65 and its 200 day moving average is $25.51. The stock’s market cap is $11.04 billion.

Arconic (NASDAQ:ARNC) last issued its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.08. Arconic had a return on equity of 23.34% and a net margin of 10.09%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3 billion. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. Equities research analysts forecast that Arconic Inc will post $1.16 earnings per share for the current fiscal year.

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Several brokerages have recently weighed in on ARNC. Deutsche Bank AG restated a “buy” rating on shares of Arconic in a research note on Saturday, June 24th. Vetr raised shares of Arconic from a “sell” rating to a “hold” rating and set a $27.00 price target on the stock in a report on Monday, May 29th. J P Morgan Chase & Co raised shares of Arconic from a “neutral” rating to an “overweight” rating and cut their price target for the company from $30.00 to $29.00 in a report on Monday, July 10th. Zacks Investment Research raised shares of Arconic from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Tuesday, June 20th. Finally, Seaport Global Securities raised shares of Arconic from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Arconic presently has an average rating of “Hold” and an average target price of $26.73.

In related news, Director Christopher L. Ayers bought 7,325 shares of Arconic stock in a transaction dated Friday, May 26th. The shares were bought at an average cost of $27.31 per share, with a total value of $200,045.75. Following the acquisition, the director now owns 7,425 shares in the company, valued at approximately $202,776.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrice E. Merrin bought 10,000 shares of Arconic stock in a transaction dated Tuesday, May 30th. The shares were bought at an average cost of $27.17 per share, for a total transaction of $271,700.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at approximately $135,850. The disclosure for this purchase can be found here.

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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Institutional Ownership by Quarter for Arconic (NASDAQ:ARNC)

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