Arconic Inc (ARNC) Position Lowered by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its stake in Arconic Inc (NASDAQ:ARNC) by 30.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,906 shares of the basic materials company’s stock after selling 25,724 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Arconic were worth $1,441,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Fund Management S.A. purchased a new position in Arconic during the 2nd quarter worth $7,597,000. TSP Capital Management Group LLC grew its position in Arconic by 5.9% during the 2nd quarter. TSP Capital Management Group LLC now owns 237,528 shares of the basic materials company’s stock worth $5,380,000 after purchasing an additional 13,260 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in Arconic by 15.2% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 22,322 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 2,949 shares during the last quarter. Andra AP fonden grew its position in Arconic by 16.0% during the 2nd quarter. Andra AP fonden now owns 125,400 shares of the basic materials company’s stock worth $2,840,000 after purchasing an additional 17,300 shares during the last quarter. Finally, Wayne Hummer Investments L.L.C. grew its position in Arconic by 8.2% during the 2nd quarter. Wayne Hummer Investments L.L.C. now owns 9,630 shares of the basic materials company’s stock worth $218,000 after purchasing an additional 732 shares during the last quarter.

Several research analysts have issued reports on ARNC shares. Zacks Investment Research raised shares of Arconic from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, September 12th. Longbow Research raised shares of Arconic from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Tuesday, August 22nd. Seaport Global Securities reissued a “buy” rating and set a $29.00 price objective (up from $27.00) on shares of Arconic in a research report on Tuesday, September 26th. Deutsche Bank AG set a $31.00 price objective on shares of Arconic and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, Vetr downgraded shares of Arconic from a “strong-buy” rating to a “buy” rating and set a $28.78 price objective on the stock. in a research report on Tuesday, July 25th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Arconic currently has an average rating of “Buy” and an average price target of $28.33.

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Shares of Arconic Inc (NASDAQ:ARNC) opened at $23.79 on Tuesday. Arconic Inc has a 52 week low of $18.47 and a 52 week high of $30.69.

Arconic (NASDAQ:ARNC) last released its earnings results on Monday, October 23rd. The basic materials company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). Arconic had a return on equity of 7.07% and a net margin of 3.68%. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.09 billion. The business’s revenue was up 3.1% on a year-over-year basis.

The company also recently announced a quarterly dividend, which will be paid on Saturday, November 25th. Stockholders of record on Friday, November 3rd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Thursday, November 2nd. Arconic’s dividend payout ratio (DPR) is presently -11.21%.

About Arconic

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.

Institutional Ownership by Quarter for Arconic (NASDAQ:ARNC)

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