Arconic Inc (ARNC) Shares Bought by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC boosted its position in shares of Arconic Inc (NYSE:ARNC) by 3.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,336,555 shares of the basic materials company’s stock after purchasing an additional 40,694 shares during the period. TIAA CREF Investment Management LLC’s holdings in Arconic were worth $36,421,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Teachers Advisors LLC grew its position in Arconic by 23.2% during the 4th quarter. Teachers Advisors LLC now owns 701,536 shares of the basic materials company’s stock worth $19,117,000 after purchasing an additional 131,900 shares in the last quarter. HBK Investments L P grew its position in Arconic by 92.1% during the 4th quarter. HBK Investments L P now owns 1,520,700 shares of the basic materials company’s stock worth $41,439,000 after purchasing an additional 728,900 shares in the last quarter. California State Teachers Retirement System grew its position in Arconic by 9.6% during the 4th quarter. California State Teachers Retirement System now owns 729,840 shares of the basic materials company’s stock worth $19,888,000 after purchasing an additional 64,013 shares in the last quarter. Two Sigma Investments LP grew its position in Arconic by 18.5% during the 4th quarter. Two Sigma Investments LP now owns 2,548,287 shares of the basic materials company’s stock worth $69,441,000 after purchasing an additional 398,117 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Arconic by 89.9% during the 4th quarter. Two Sigma Advisers LP now owns 2,061,426 shares of the basic materials company’s stock worth $56,174,000 after purchasing an additional 976,128 shares in the last quarter. Hedge funds and other institutional investors own 80.48% of the company’s stock.

Shares of ARNC stock opened at $22.75 on Friday. The stock has a market cap of $10,949.28, a price-to-earnings ratio of -103.41, a price-to-earnings-growth ratio of 0.76 and a beta of 1.09. 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 quick ratio of 1.38 and a current ratio of 2.26.

Arconic (NYSE:ARNC) last issued its earnings results on Monday, February 5th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.08 billion. Arconic had a negative net margin of 0.57% and a positive return on equity of 11.29%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS. equities research analysts expect that Arconic Inc will post 1.5 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 4th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, May 3rd. Arconic’s payout ratio is presently -109.09%.

In other Arconic news, Director David P. Hess acquired 40,300 shares of Arconic stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average price of $24.80 per share, with a total value of $999,440.00. Following the purchase, the director now owns 127,870 shares in the company, valued at $3,171,176. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.12% of the stock is currently owned by insiders.

Several equities analysts have weighed in on the stock. Cowen reiterated a “hold” rating and set a $25.00 price objective on shares of Arconic in a research report on Thursday, February 1st. Seaport Global Securities reiterated a “buy” rating and set a $32.00 price objective on shares of Arconic in a research report on Tuesday, February 6th. Morgan Stanley reissued a “hold” rating and set a $28.00 target price (down previously from $30.00) on shares of Arconic in a research note on Friday, February 23rd. Wells Fargo began 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. Finally, Goldman Sachs began coverage on shares of Arconic in a research note on Tuesday. They set a “neutral” rating and a $28.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $29.70.

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Arconic Company Profile

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 (NYSE:ARNC)

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