State Treasurer State of Michigan Increases Position in Arconic Inc (ARNC)

State Treasurer State of Michigan lifted its stake in shares of Arconic Inc (NYSE:ARNC) by 5.4% during the 4th quarter, Holdings Channel reports. The firm owned 124,134 shares of the basic materials company’s stock after acquiring an additional 6,400 shares during the period. State Treasurer State of Michigan’s holdings in Arconic were worth $3,383,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Savant Capital LLC grew its holdings in Arconic by 20.0% during the 4th quarter. Savant Capital LLC now owns 11,667 shares of the basic materials company’s stock worth $318,000 after acquiring an additional 1,948 shares during the last quarter. Andra AP fonden grew its holdings in Arconic by 2.0% during the 3rd quarter. Andra AP fonden now owns 127,900 shares of the basic materials company’s stock worth $3,182,000 after acquiring an additional 2,500 shares during the last quarter. Ray Gerald L & Associates Ltd. grew its holdings in Arconic by 10.5% during the 3rd quarter. Ray Gerald L & Associates Ltd. now owns 29,532 shares of the basic materials company’s stock worth $735,000 after acquiring an additional 2,800 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings 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 acquiring an additional 2,949 shares during the last quarter. Finally, Commonwealth Equity Services Inc grew its holdings in Arconic by 3.7% during the 3rd quarter. Commonwealth Equity Services Inc now owns 89,264 shares of the basic materials company’s stock worth $2,220,000 after acquiring an additional 3,200 shares during the last quarter. 74.58% of the stock is currently owned by institutional investors.

Shares of Arconic Inc (ARNC) opened at $24.45 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.26 and a quick ratio of 1.38. Arconic Inc has a 12 month low of $21.75 and a 12 month high of $31.17. The company has a market cap of $12,083.55, a price-to-earnings ratio of -111.14, a PEG ratio of 0.84 and a beta of 0.93.

Arconic (NYSE:ARNC) last posted its quarterly earnings data on Monday, February 5th. The basic materials company reported $0.31 EPS for the quarter, beating the Zacks’ 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 company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm posted $0.12 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. sell-side analysts anticipate that Arconic Inc will post 1.5 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, February 25th. Stockholders of record on Friday, February 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Thursday, February 1st. Arconic’s dividend payout ratio is currently -109.09%.

A number of equities research analysts have weighed in on ARNC shares. Zacks Investment Research lowered shares of Arconic from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Vetr raised shares of Arconic from a “hold” rating to a “buy” rating and set a $27.97 target price on the stock in a report on Tuesday, October 17th. Cowen reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Arconic in a research note on Thursday, October 19th. Morgan Stanley reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Arconic in a research note on Tuesday, October 24th. Finally, Deutsche Bank set a $31.00 price objective on shares of Arconic and gave the company a “buy” rating in a research note on Tuesday, October 24th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Arconic presently has a consensus rating of “Buy” and a consensus target price of $29.77.

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Arconic 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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