Stevens Capital Management LP Makes New $1.44 Million Investment in Arconic Inc (NYSE:ARNC)

Stevens Capital Management LP purchased a new position in Arconic Inc (NYSE:ARNC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 55,647 shares of the basic materials company’s stock, valued at approximately $1,437,000.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC grew its holdings in Arconic by 1,397.5% in the 1st quarter. CWM LLC now owns 1,827 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 1,705 shares during the last quarter. Osborn Williams & Donohoe LLC bought a new stake in Arconic in the 1st quarter worth $39,000. Liberty Wealth Management LLC grew its holdings in Arconic by 3,808.2% in the 1st quarter. Liberty Wealth Management LLC now owns 1,915 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 1,866 shares during the last quarter. CSat Investment Advisory L.P. grew its holdings in Arconic by 31.6% in the 1st quarter. CSat Investment Advisory L.P. now owns 1,949 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 468 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in Arconic by 560.9% in the 1st quarter. Parallel Advisors LLC now owns 2,280 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 1,935 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

In other Arconic news, Chairman John C. Plant purchased 30,463 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average cost of $24.13 per share, with a total value of $735,072.19. Following the transaction, the chairman now directly owns 28,282 shares in the company, valued at approximately $682,444.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.

A number of brokerages have recently weighed in on ARNC. Goldman Sachs Group raised shares of Arconic from a “neutral” rating to a “buy” rating and lifted their target price for the company from $21.00 to $26.00 in a research note on Thursday, May 2nd. Longbow Research lowered shares of Arconic from a “buy” rating to a “neutral” rating in a research note on Thursday, July 18th. Barclays raised shares of Arconic from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $20.00 to $31.00 in a research note on Wednesday, August 7th. ValuEngine lowered shares of Arconic from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Cowen reaffirmed a “hold” rating and set a $24.00 target price on shares of Arconic in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $24.41.

Shares of ARNC traded up $0.21 during trading hours on Friday, reaching $24.78. 42,246 shares of the company traded hands, compared to its average volume of 2,764,686. The company’s fifty day moving average price is $25.35 and its two-hundred day moving average price is $21.72. The company has a market capitalization of $10.88 billion, a price-to-earnings ratio of 18.15 and a beta of 1.50. The company has a quick ratio of 0.94, a current ratio of 1.66 and a debt-to-equity ratio of 1.23. Arconic Inc has a 12 month low of $15.63 and a 12 month high of $26.40.

Arconic (NYSE:ARNC) last announced its earnings results on Friday, August 2nd. The basic materials company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.64 billion. Arconic had a net margin of 3.13% and a return on equity of 15.38%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 EPS. On average, analysts expect that Arconic Inc will post 1.98 EPS for the current year.

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.32%. Arconic’s dividend payout ratio (DPR) is currently 5.88%.

Arconic 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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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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