Flinton Capital Management LLC Has $533,000 Stake in Arconic Inc (ARNC)

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Flinton Capital Management LLC lowered its stake in Arconic Inc (NYSE:ARNC) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,620 shares of the basic materials company’s stock after selling 2,788 shares during the period. Flinton Capital Management LLC’s holdings in Arconic were worth $533,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc increased its holdings in shares of Arconic by 1.5% in the third quarter. Vanguard Group Inc now owns 44,331,106 shares of the basic materials company’s stock worth $975,728,000 after buying an additional 653,470 shares during the period. Canyon Capital Advisors LLC increased its holdings in shares of Arconic by 17.9% in the third quarter. Canyon Capital Advisors LLC now owns 8,500,768 shares of the basic materials company’s stock worth $187,102,000 after buying an additional 1,292,668 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Arconic by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,849,849 shares of the basic materials company’s stock worth $81,770,000 after buying an additional 97,501 shares during the period. Northern Trust Corp increased its holdings in shares of Arconic by 3.2% in the fourth quarter. Northern Trust Corp now owns 4,645,621 shares of the basic materials company’s stock worth $78,325,000 after buying an additional 141,957 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Arconic by 134.9% in the third quarter. Morgan Stanley now owns 3,406,246 shares of the basic materials company’s stock worth $74,972,000 after buying an additional 1,955,880 shares during the period. Hedge funds and other institutional investors own 82.24% of the company’s stock.

Shares of NYSE:ARNC opened at $18.95 on Friday. Arconic Inc has a 1 year low of $15.63 and a 1 year high of $24.68. The stock has a market cap of $9.19 billion, a P/E ratio of 13.93 and a beta of 1.48. The company has a current ratio of 1.87, a quick ratio of 1.16 and a debt-to-equity ratio of 1.07.

Arconic (NYSE:ARNC) last announced its quarterly earnings results on Friday, February 8th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Arconic had a return on equity of 12.73% and a net margin of 4.58%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the business earned $0.31 EPS. Arconic’s revenue was up 6.1% compared to the same quarter last year. On average, analysts expect that Arconic Inc will post 1.64 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, May 25th. Investors of record on Friday, May 3rd will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.08 dividend on an annualized basis and a yield of 0.42%. Arconic’s dividend payout ratio is presently 17.65%.

ARNC has been the topic of several analyst reports. Zacks Investment Research upgraded Arconic from a “sell” rating to a “hold” rating in a report on Monday, February 11th. Longbow Research upgraded Arconic from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $23.25 to $18.26 in a report on Thursday, December 20th. Cowen reiterated a “hold” rating and issued a $20.00 price objective on shares of Arconic in a report on Friday, February 8th. ValuEngine downgraded Arconic from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 22nd. Finally, JPMorgan Chase & Co. downgraded Arconic from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $24.00 to $22.00 in a report on Monday, January 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Arconic currently has an average rating of “Hold” and an average target price of $23.48.

In other news, CEO John C. Plant acquired 35,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were acquired at an average cost of $18.65 per share, with a total value of $652,750.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman John C. Plant acquired 105,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were purchased at an average cost of $18.67 per share, for a total transaction of $1,960,350.00. Following the completion of the transaction, the chairman now owns 28,282 shares in the company, valued at approximately $528,024.94. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 280,000 shares of company stock worth $5,192,250. 0.17% of the stock is owned by company insiders.

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Arconic Company Profile

Arconic Inc engineers, manufactures, and sells lightweight metals worldwide. The company operate in three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions produces and sells fastening systems and seamless rolled rings; investment castings, including airfoils and forged jet engine components; and extruded, machined, and formed aircraft parts for aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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