WINTON GROUP Ltd bought a new stake in Arconic Inc (NYSE:ARNC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 44,142 shares of the basic materials company’s stock, valued at approximately $1,203,000.
A number of other large investors have also bought and sold shares of the stock. Ark Investment Management LLC boosted its stake in Arconic by 54.3% in the second quarter. Ark Investment Management LLC now owns 16,515 shares of the basic materials company’s stock valued at $374,000 after acquiring an additional 5,810 shares in the last quarter. Andra AP fonden boosted its stake in Arconic by 2.0% in the third quarter. Andra AP fonden now owns 127,900 shares of the basic materials company’s stock valued at $3,182,000 after acquiring an additional 2,500 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in Arconic by 3.4% in the third quarter. State of Wisconsin Investment Board now owns 343,324 shares of the basic materials company’s stock valued at $8,542,000 after acquiring an additional 11,343 shares in the last quarter. State of Tennessee Treasury Department boosted its stake in Arconic by 66.4% in the third quarter. State of Tennessee Treasury Department now owns 200,645 shares of the basic materials company’s stock valued at $4,992,000 after acquiring an additional 80,090 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Arconic by 1.5% in the third quarter. Swiss National Bank now owns 1,459,895 shares of the basic materials company’s stock valued at $36,322,000 after acquiring an additional 21,900 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on the stock. Morgan Stanley restated a “hold” rating and issued a $28.00 price objective (down previously from $30.00) on shares of Arconic in a research note on Friday, February 23rd. Seaport Global Securities reiterated a “buy” rating and set a $32.00 target price on shares of Arconic in a research note on Tuesday, February 6th. Cowen reiterated a “hold” rating and set a $25.00 target price on shares of Arconic in a research note on Thursday, February 1st. Zacks Investment Research downgraded shares of Arconic from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, Wells Fargo & Co initiated coverage on shares of Arconic in a research note on Thursday, January 4th. They set an “outperform” rating and a $35.00 target price for the company. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $29.89.
Shares of Arconic Inc (ARNC) opened at $25.19 on Friday. Arconic Inc has a 12 month low of $21.75 and a 12 month high of $31.17. The firm has a market cap of $11,972.75, a PE ratio of -114.50, a PEG ratio of 0.83 and a beta of 1.09. The company has a current ratio of 2.26, a quick ratio of 1.38 and a debt-to-equity ratio of 1.40.
Arconic (NYSE:ARNC) last announced its earnings results on Monday, February 5th. The basic materials company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.07. Arconic had a negative net margin of 0.57% and a positive return on equity of 11.29%. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. research analysts expect that Arconic Inc will post 1.5 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 4th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, May 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.95%. Arconic’s dividend payout ratio (DPR) is -109.09%.
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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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