Norinchukin Bank The increased its position in Arconic Inc (NYSE:ARNC) by 17.2% in the 4th quarter, Holdings Channel reports. The firm owned 33,865 shares of the basic materials company’s stock after buying an additional 4,978 shares during the period. Norinchukin Bank The’s holdings in Arconic were worth $923,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Arconic by 6.5% in the 4th quarter. BlackRock Inc. now owns 32,715,258 shares of the basic materials company’s stock valued at $891,490,000 after purchasing an additional 2,002,712 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Arconic by 21.6% in the 4th quarter. Wells Fargo & Company MN now owns 7,787,687 shares of the basic materials company’s stock valued at $212,215,000 after purchasing an additional 1,385,628 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Arconic by 5.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,137,495 shares of the basic materials company’s stock valued at $152,744,000 after purchasing an additional 324,119 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Arconic by 19.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,180,104 shares of the basic materials company’s stock valued at $86,658,000 after purchasing an additional 508,065 shares during the last quarter. Finally, Permian Investment Partners LP lifted its holdings in shares of Arconic by 10.5% in the 3rd quarter. Permian Investment Partners LP now owns 1,705,757 shares of the basic materials company’s stock valued at $42,439,000 after purchasing an additional 161,592 shares during the last quarter. 74.85% of the stock is owned by institutional investors and hedge funds.
Arconic Inc (NYSE ARNC) opened at $25.13 on Tuesday. The stock has a market capitalization of $12,098.00, a PE ratio of 20.77, a P/E/G ratio of 0.82 and a beta of 0.93. Arconic Inc has a 52-week low of $21.75 and a 52-week high of $31.17. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.26 and a quick ratio of 1.38.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 4th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.96%. The ex-dividend date is Thursday, May 3rd. Arconic’s dividend payout ratio (DPR) is presently -109.09%.
In related news, Director David P. Hess purchased 40,300 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were purchased at an average price of $24.80 per share, for a total transaction of $999,440.00. Following the transaction, the director now directly owns 127,870 shares of the company’s stock, valued at approximately $3,171,176. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.12% of the company’s stock.
Several research firms have recently weighed in on ARNC. Cowen reissued a “hold” rating and issued a $25.00 target price on shares of Arconic in a report on Wednesday, January 3rd. Seaport Global Securities reissued a “buy” rating and issued a $32.00 target price on shares of Arconic in a report on Tuesday, February 6th. Wells Fargo & Co began coverage on Arconic in a report on Thursday, January 4th. They issued an “outperform” rating and a $35.00 target price for the company. Zacks Investment Research raised Arconic from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. Finally, Morgan Stanley restated a “hold” rating and issued a $28.00 price target (down previously from $30.00) on shares of Arconic in a research report on Friday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Arconic currently has an average rating of “Buy” and an average price target of $29.89.
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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