Cutler Capital Management LLC Reduces Position in Arconic Inc (ARNC)

Cutler Capital Management LLC lowered its stake in shares of Arconic Inc (NYSE:ARNC) by 87.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,119 shares of the basic materials company’s stock after selling 94,905 shares during the quarter. Cutler Capital Management LLC’s holdings in Arconic were worth $385,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ARNC. Huntington National Bank bought a new stake in Arconic in the 3rd quarter valued at $132,000. Fox Run Management L.L.C. bought a new stake in Arconic in the 4th quarter valued at $205,000. UMB Bank N A MO bought a new stake in Arconic in the 4th quarter valued at $212,000. National Planning Corp bought a new stake in Arconic in the 3rd quarter valued at $206,000. Finally, NTV Asset Management LLC bought a new stake in Arconic in the 4th quarter valued at $220,000. 74.58% of the stock is currently owned by institutional investors and hedge funds.

Shares of Arconic Inc (NYSE ARNC) opened at $24.45 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.26 and a debt-to-equity ratio of 1.40. Arconic Inc has a fifty-two week low of $21.75 and a fifty-two week high of $31.17. The firm has a market cap of $11,770.00, a PE ratio of -94.04, a PEG ratio of 0.84 and a beta of 0.93.

Arconic (NYSE:ARNC) last posted its earnings results on Monday, February 5th. The basic materials company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.07. Arconic had a negative net margin of 0.57% and a positive return on equity of 11.29%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the firm earned $0.12 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. research analysts expect that Arconic Inc will post 1.5 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, February 25th. Stockholders of record on Friday, February 2nd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, February 1st. Arconic’s payout ratio is -92.31%.

Several equities research analysts have issued reports on ARNC shares. Vetr raised shares of Arconic from a “hold” rating to a “buy” rating and set a $27.97 price target on the stock in a report on Tuesday, October 17th. Deutsche Bank set a $31.00 price target on shares of Arconic and gave the company a “buy” rating in a report on Tuesday, October 24th. Seaport Global Securities reissued a “buy” rating and issued a $33.00 price target on shares of Arconic in a report on Monday, January 22nd. Morgan Stanley reissued a “hold” rating and issued a $27.00 price target on shares of Arconic in a report on Tuesday, October 24th. Finally, Cowen reissued a “hold” rating and issued a $25.00 price target on shares of Arconic in a report on Thursday, October 19th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $29.77.

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Arconic Company Profile

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.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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