Neuburgh Advisers LLC lessened its stake in shares of Arconic Inc (NYSE:ARNC) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,460 shares of the basic materials company’s stock after selling 1,804 shares during the quarter. Neuburgh Advisers LLC’s holdings in Arconic were worth $345,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in ARNC. Stifel Financial Corp lifted its position in Arconic by 8.0% during the fourth quarter. Stifel Financial Corp now owns 259,953 shares of the basic materials company’s stock valued at $4,396,000 after buying an additional 19,328 shares during the period. Gideon Capital Advisors Inc. purchased a new position in Arconic during the fourth quarter valued at $388,000. Natixis Advisors L.P. lifted its position in Arconic by 46.6% during the fourth quarter. Natixis Advisors L.P. now owns 211,858 shares of the basic materials company’s stock valued at $3,571,000 after buying an additional 67,333 shares during the period. Dimensional Fund Advisors LP lifted its position in Arconic by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,849,849 shares of the basic materials company’s stock valued at $81,770,000 after buying an additional 97,501 shares during the period. Finally, United Services Automobile Association lifted its position in Arconic by 2.1% during the fourth quarter. United Services Automobile Association now owns 135,495 shares of the basic materials company’s stock valued at $2,284,000 after buying an additional 2,803 shares during the period. 82.24% of the stock is owned by institutional investors.
In other Arconic news, CEO John C. Plant acquired 35,000 shares of Arconic stock in a transaction that occurred on Tuesday, March 5th. The stock was bought at an average cost of $18.65 per share, for a total transaction of $652,750.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman John C. Plant acquired 105,000 shares of Arconic stock in a transaction that occurred on Tuesday, March 12th. The stock was acquired at an average price of $18.67 per share, with a total value of $1,960,350.00. Following the completion of the acquisition, the chairman now directly owns 28,282 shares in the company, valued at approximately $528,024.94. The disclosure for this purchase can be found here. Insiders have bought 280,000 shares of company stock valued at $5,192,250 over the last 90 days. Corporate insiders own 0.17% of the company’s stock.
Several equities analysts have commented on ARNC shares. Longbow Research raised Arconic from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $23.25 to $18.26 in a research report on Thursday, December 20th. Zacks Investment Research raised Arconic from a “sell” rating to a “hold” rating in a research report on Monday, February 11th. Cowen reissued a “hold” rating and set a $20.00 price objective on shares of Arconic in a research report on Friday, February 8th. JPMorgan Chase & Co. lowered Arconic from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $24.00 to $22.00 in a research report on Monday, January 14th. Finally, ValuEngine downgraded Arconic from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 22nd. One equities 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. The company currently has a consensus rating of “Hold” and a consensus price target of $23.48.
Shares of NYSE:ARNC opened at $18.99 on Friday. Arconic Inc has a 1-year low of $15.63 and a 1-year high of $24.68. The company has a quick ratio of 1.16, a current ratio of 1.87 and a debt-to-equity ratio of 1.07. The firm has a market cap of $9.21 billion, a PE ratio of 13.96 and a beta of 1.48.
Arconic (NYSE:ARNC) last issued its quarterly earnings results on Friday, February 8th. The basic materials company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. Arconic had a return on equity of 12.73% and a net margin of 4.58%. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the company earned $0.31 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts predict that Arconic Inc will post 1.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, May 25th. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.02 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.08 annualized dividend and a dividend yield of 0.42%. Arconic’s payout ratio is presently 17.65%.
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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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