Thrivent Financial For Lutherans increased its holdings in shares of Arconic Inc (NYSE:ARNC) by 668.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,180 shares of the basic materials company’s stock after purchasing an additional 14,944 shares during the quarter. Thrivent Financial For Lutherans’ holdings in Arconic were worth $468,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Savant Capital LLC grew its position in Arconic by 20.0% in the fourth quarter. Savant Capital LLC now owns 11,667 shares of the basic materials company’s stock valued at $318,000 after acquiring an additional 1,948 shares in the last quarter. ARK Investment Management LLC grew its position in Arconic by 11.2% in the fourth quarter. ARK Investment Management LLC now owns 27,553 shares of the basic materials company’s stock valued at $751,000 after acquiring an additional 2,786 shares in the last quarter. Aperio Group LLC grew its position in Arconic by 2.9% in the fourth quarter. Aperio Group LLC now owns 106,288 shares of the basic materials company’s stock valued at $2,896,000 after acquiring an additional 2,972 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Arconic by 2.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 125,100 shares of the basic materials company’s stock valued at $3,126,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Arconic by 6.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 61,553 shares of the basic materials company’s stock valued at $1,722,000 after acquiring an additional 3,647 shares in the last quarter. 80.48% of the stock is owned by hedge funds and other institutional investors.
Shares of Arconic Inc (ARNC) opened at $22.75 on Monday. Arconic Inc has a 1 year low of $21.75 and a 1 year 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. The firm has a market cap of $10,983.07, a P/E ratio of 18.80, a PEG ratio of 0.76 and a beta of 1.09.
The company 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 dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.05%. The ex-dividend date is Thursday, May 3rd. Arconic’s dividend payout ratio (DPR) is presently -109.09%.
Several analysts have issued reports on ARNC shares. Seaport Global Securities reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Arconic in a research report on Monday, January 22nd. Cowen reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Arconic in a research report on Wednesday, January 3rd. Zacks Investment Research raised shares of Arconic from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Morgan Stanley reaffirmed a “hold” rating and issued a $28.00 price objective (down previously from $30.00) on shares of Arconic in a research report on Friday, February 23rd. Finally, Goldman Sachs assumed coverage on shares of Arconic in a research report on Tuesday, March 20th. They issued a “neutral” rating and a $28.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $29.70.
In other news, Director David P. Hess acquired 40,300 shares of Arconic stock in a transaction that occurred on Thursday, February 8th. The shares were purchased at an average cost of $24.80 per share, for a total transaction of $999,440.00. Following the completion of the purchase, 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. Company insiders own 0.12% of the company’s stock.
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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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