Arconic Inc (ARNC) Shares Sold by United Services Automobile Association

Share on StockTwits

United Services Automobile Association cut its position in shares of Arconic Inc (NYSE:ARNC) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 132,692 shares of the basic materials company’s stock after selling 2,589 shares during the quarter. United Services Automobile Association’s holdings in Arconic were worth $2,257,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Arconic by 4.7% during the 2nd quarter. BlackRock Inc. now owns 35,321,536 shares of the basic materials company’s stock valued at $600,819,000 after purchasing an additional 1,585,480 shares during the period. Canyon Capital Advisors LLC boosted its stake in shares of Arconic by 91.3% during the 1st quarter. Canyon Capital Advisors LLC now owns 7,178,000 shares of the basic materials company’s stock worth $165,381,000 after acquiring an additional 3,425,137 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Arconic by 8.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,665,633 shares of the basic materials company’s stock worth $96,370,000 after acquiring an additional 417,504 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Arconic by 30.1% during the 1st quarter. Allianz Asset Management GmbH now owns 2,416,570 shares of the basic materials company’s stock worth $55,678,000 after acquiring an additional 559,644 shares in the last quarter. Finally, Douglas Lane & Associates LLC boosted its stake in shares of Arconic by 4.1% during the 2nd quarter. Douglas Lane & Associates LLC now owns 2,282,690 shares of the basic materials company’s stock worth $38,829,000 after acquiring an additional 90,116 shares in the last quarter. Institutional investors own 83.03% of the company’s stock.

Several research firms have recently weighed in on ARNC. Zacks Investment Research lowered Arconic from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Cowen reissued a “hold” rating and set a $15.00 price objective on shares of Arconic in a research note on Tuesday, July 31st. Barclays reissued a “hold” rating and set a $20.00 price objective on shares of Arconic in a research note on Sunday, May 13th. TheStreet lowered Arconic from a “c-” rating to a “d+” rating in a research note on Tuesday, May 29th. Finally, Argus lowered Arconic from a “buy” rating to a “hold” rating in a research note on Thursday, May 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $24.91.

Shares of Arconic stock opened at $21.92 on Friday. The firm has a market capitalization of $10.70 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 0.86 and a beta of 1.31. The company has a quick ratio of 1.15, a current ratio of 2.04 and a debt-to-equity ratio of 1.22. Arconic Inc has a 12 month low of $16.47 and a 12 month high of $31.17.

Arconic (NYSE:ARNC) last issued its earnings results on Tuesday, July 31st. The basic materials company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.08. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Arconic had a positive return on equity of 12.06% and a negative net margin of 2.55%. Arconic’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. analysts predict that Arconic Inc will post 1.29 earnings per share for the current fiscal year.

About Arconic

Arconic Inc engineers, manufactures, and sells lightweight metals of aluminum, titanium, and nickel worldwide. It operates through 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, as well as various forged, extruded, and machined metal products.

Featured Article: Technical Analysis of Stocks and What It Means

Want to see what other hedge funds are holding ARNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arconic Inc (NYSE:ARNC).

Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

Receive News & Ratings for Arconic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arconic and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply