NGAM Advisors L.P. increased its position in Arconic Inc (NASDAQ:ARNC) by 177.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,687 shares of the basic materials company’s stock after buying an additional 75,257 shares during the period. NGAM Advisors L.P.’s holdings in Arconic were worth $2,665,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Cleararc Capital Inc. increased its stake in shares of Arconic by 1.3% in the first quarter. Cleararc Capital Inc. now owns 10,787 shares of the basic materials company’s stock worth $284,000 after buying an additional 141 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Arconic by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 27,300 shares of the basic materials company’s stock worth $618,000 after buying an additional 200 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Arconic by 1.8% in the first quarter. Stratos Wealth Partners LTD. now owns 11,914 shares of the basic materials company’s stock worth $314,000 after buying an additional 210 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Arconic by 3.3% in the first quarter. Pacer Advisors Inc. now owns 8,956 shares of the basic materials company’s stock worth $236,000 after buying an additional 286 shares in the last quarter. Finally, Advantus Capital Management Inc increased its stake in shares of Arconic by 1.2% in the first quarter. Advantus Capital Management Inc now owns 44,275 shares of the basic materials company’s stock worth $1,166,000 after buying an additional 546 shares in the last quarter.
Shares of Arconic Inc (ARNC) opened at 23.99 on Friday. The company’s 50 day moving average price is $24.36 and its 200 day moving average price is $26.32. The firm’s market cap is $10.58 billion. Arconic Inc has a 12-month low of $16.75 and a 12-month high of $30.69.
Arconic (NASDAQ:ARNC) last announced its earnings results on Monday, July 24th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.06. Arconic had a net margin of 6.50% and a return on equity of 14.01%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.18 billion. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts forecast that Arconic Inc will post $1.19 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 4th will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $0.24 annualized dividend and a yield of 1.00%.
A number of equities research analysts have weighed in on the company. Vetr raised Arconic to a “strong-buy” rating in a report on Thursday, July 27th. Seaport Global Securities raised Arconic from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Thursday, July 13th. J P Morgan Chase & Co raised Arconic from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $30.00 to $29.00 in a report on Monday, July 10th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Arconic in a report on Friday, June 30th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $25.00 target price on shares of Arconic in a report on Monday, June 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $26.88.
In related news, Director Christopher L. Ayers bought 7,325 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was bought at an average cost of $27.31 per share, for a total transaction of $200,045.75. Following the completion of the transaction, the director now owns 7,425 shares of the company’s stock, valued at $202,776.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elmer L. Doty bought 6,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average price of $24.51 per share, with a total value of $147,060.00. Following the completion of the transaction, the director now directly owns 4,409 shares of the company’s stock, valued at approximately $108,064.59. The disclosure for this purchase can be found here. Insiders purchased 28,325 shares of company stock valued at $743,506 over the last quarter.
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.
Want to see what other hedge funds are holding ARNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arconic Inc (NASDAQ:ARNC).
What are top analysts saying about Arconic Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Arconic Inc and related companies.