OppenheimerFunds Inc. reduced its position in Arconic Inc (NYSE:ARNC) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,745 shares of the basic materials company’s stock after selling 4,444 shares during the period. OppenheimerFunds Inc.’s holdings in Arconic were worth $2,146,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brown Advisory Inc. bought a new position in shares of Arconic in the 4th quarter worth $251,000. Suntrust Banks Inc. lifted its holdings in shares of Arconic by 23.9% in the 4th quarter. Suntrust Banks Inc. now owns 55,522 shares of the basic materials company’s stock worth $1,511,000 after purchasing an additional 10,694 shares in the last quarter. Timber Hill LLC bought a new position in shares of Arconic in the 4th quarter worth $615,000. Baird Financial Group Inc. lifted its holdings in shares of Arconic by 51.8% in the 4th quarter. Baird Financial Group Inc. now owns 28,640 shares of the basic materials company’s stock worth $780,000 after purchasing an additional 9,769 shares in the last quarter. Finally, Smith Moore & CO. bought a new position in shares of Arconic in the 4th quarter worth $250,000. Institutional investors own 80.81% of the company’s stock.
In other Arconic news, Director David P. Hess bought 40,300 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was purchased at an average cost of $24.80 per share, with a total value of $999,440.00. Following the transaction, the director now directly owns 127,870 shares in the company, valued at approximately $3,171,176. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.12% of the company’s stock.
Arconic Inc (ARNC) opened at $25.19 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.38 and a current ratio of 2.26. Arconic Inc has a 52 week low of $21.75 and a 52 week high of $31.17. The firm has a market capitalization of $12,161.03, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 0.84 and a beta of 1.09.
Arconic (NYSE:ARNC) last issued its quarterly earnings data on Monday, February 5th. The basic materials company reported $0.31 earnings per share for the quarter, beating the 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 business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the business earned $0.12 EPS. The business’s revenue was up 10.2% on a year-over-year basis. equities research analysts anticipate that Arconic Inc will post 1.5 earnings per share for the current 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 given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Thursday, May 3rd. Arconic’s dividend payout ratio is presently -109.09%.
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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