Cerebellum GP LLC acquired a new stake in shares of Arconic Inc (NYSE:ARNC) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 13,619 shares of the basic materials company’s stock, valued at approximately $352,000.
Several other institutional investors also recently bought and sold shares of ARNC. Advisor Group Inc. grew its stake in Arconic by 7.8% in the fourth quarter. Advisor Group Inc. now owns 18,474 shares of the basic materials company’s stock valued at $311,000 after purchasing an additional 1,331 shares in the last quarter. United Services Automobile Association grew its stake in Arconic by 2.1% in 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 purchasing an additional 2,803 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in 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 valued at $81,770,000 after purchasing an additional 97,501 shares in the last quarter. Stifel Financial Corp grew its stake in Arconic by 8.0% in the fourth quarter. Stifel Financial Corp now owns 259,953 shares of the basic materials company’s stock valued at $4,396,000 after purchasing an additional 19,328 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Arconic by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 5,550,992 shares of the basic materials company’s stock valued at $93,423,000 after purchasing an additional 390,464 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.
Shares of NYSE ARNC traded down $0.03 during trading hours on Tuesday, hitting $25.10. 155,371 shares of the company’s stock were exchanged, compared to its average volume of 2,666,020. Arconic Inc has a 1-year low of $15.63 and a 1-year high of $26.40. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.65 and a quick ratio of 0.94. The stock has a market cap of $11.30 billion, a PE ratio of 18.46 and a beta of 1.46. The firm has a 50-day moving average of $24.63.
Arconic (NYSE:ARNC) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. Arconic had a return on equity of 13.53% and a net margin of 4.86%. The business had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, research analysts predict that Arconic Inc will post 1.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, August 25th. Investors of record on Friday, August 2nd will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $0.08 annualized dividend and a dividend yield of 0.32%. Arconic’s dividend payout ratio is presently 5.88%.
ARNC has been the subject of several recent analyst reports. Cowen reiterated a “hold” rating and set a $103.00 price target on shares of United Therapeutics in a research note on Wednesday, May 1st. Jefferies Financial Group decreased their price target on Seres Therapeutics from $6.00 to $4.00 and set a “hold” rating for the company in a research note on Monday, July 1st. ValuEngine downgraded China Southern Airlines from a “hold” rating to a “sell” rating in a research note on Monday, April 29th. Morgan Stanley upped their price target on Williams-Sonoma from $52.00 to $56.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 10th. Finally, Goldman Sachs Group set a €14.15 ($16.45) price target on Assicurazioni Generali and gave the stock a “sell” rating in a research note on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $23.47.
In other news, CEO John C. Plant purchased 50,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average price of $22.14 per share, with a total value of $1,107,000.00. Following the acquisition, the chief executive officer now directly owns 28,282 shares in the company, valued at approximately $626,163.48. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Rajiv Gupta purchased 22,603 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average cost of $22.10 per share, with a total value of $499,526.30. Following the acquisition, the director now owns 38,420 shares in the company, valued at $849,082. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by insiders.
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 segment 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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