Eos Focused Equity Management L.P. raised its holdings in Arconic Inc (NYSE:ARNC) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 116,155 shares of the basic materials company’s stock after buying an additional 10,838 shares during the quarter. Arconic comprises 5.1% of Eos Focused Equity Management L.P.’s investment portfolio, making the stock its 7th largest position. Eos Focused Equity Management L.P.’s holdings in Arconic were worth $3,165,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of ARNC. Savant Capital LLC boosted its position in shares of Arconic by 20.0% during the fourth quarter. Savant Capital LLC now owns 11,667 shares of the basic materials company’s stock valued at $318,000 after purchasing an additional 1,948 shares in the last quarter. Andra AP fonden boosted its position in shares of Arconic by 2.0% during the third quarter. Andra AP fonden now owns 127,900 shares of the basic materials company’s stock valued at $3,182,000 after purchasing an additional 2,500 shares in the last quarter. Ray Gerald L & Associates Ltd. boosted its position in shares of Arconic by 10.5% during the third quarter. Ray Gerald L & Associates Ltd. now owns 29,532 shares of the basic materials company’s stock valued at $735,000 after purchasing an additional 2,800 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of Arconic by 15.2% during the second quarter. Dynamic Technology Lab Private Ltd now owns 22,322 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 2,949 shares in the last quarter. Finally, Aperio Group LLC boosted its position in shares of Arconic by 2.9% during the fourth quarter. Aperio Group LLC now owns 106,288 shares of the basic materials company’s stock valued at $2,896,000 after purchasing an additional 2,972 shares in the last quarter. Hedge funds and other institutional investors own 74.58% of the company’s stock.
Several equities research analysts recently weighed in on the company. Seaport Global Securities restated a “buy” rating and set a $32.00 price target on shares of Arconic in a research report on Tuesday, February 6th. Cowen restated a “hold” rating and set a $25.00 price target on shares of Arconic in a research report on Thursday, February 1st. Wells Fargo & Co assumed coverage on Arconic in a research report on Thursday, January 4th. They set an “outperform” rating and a $35.00 price target on the stock. Zacks Investment Research upgraded Arconic from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Finally, Deutsche Bank set a $31.00 price target on Arconic and gave the company a “buy” rating in a research report on Tuesday, October 24th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $29.77.
Arconic Inc (NYSE ARNC) opened at $24.66 on Friday. The stock has a market capitalization of $11,871.74, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 0.82 and a beta of 0.93. Arconic Inc has a one year low of $21.75 and a one year high of $31.17. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.38 and a current ratio of 2.26.
Arconic (NYSE:ARNC) last announced its quarterly earnings data on Monday, February 5th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.07. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Arconic had a positive return on equity of 11.29% and a negative net margin of 0.57%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 earnings per share. equities research analysts forecast that Arconic Inc will post 1.5 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, February 25th. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Thursday, February 1st. Arconic’s payout ratio is -109.09%.
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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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