Arconic Inc. (ARNC) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lessened its stake in shares of Arconic Inc. (NYSE:ARNC) by 22.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,814 shares of the basic materials company’s stock after selling 8,795 shares during the quarter. Advisors Asset Management Inc.’s holdings in Arconic were worth $767,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ARNC. Fiduciary Trust Co. bought a new position in Arconic in the 2nd quarter valued at about $111,000. Capstone Investment Advisors Netherlands B.V. lifted its position in Arconic by 47.9% in the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,950 shares of the basic materials company’s stock valued at $112,000 after acquiring an additional 1,604 shares in the last quarter. Huntington National Bank bought a new position in Arconic in the 3rd quarter valued at about $132,000. Pitcairn Co. bought a new position in Arconic in the 3rd quarter valued at about $209,000. Finally, Courier Capital LLC bought a new position in Arconic in the 3rd quarter valued at about $214,000. 74.71% of the stock is currently owned by institutional investors.

Shares of Arconic Inc. (NYSE:ARNC) opened at $24.50 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.30 and a quick ratio of 1.38. The company has a market cap of $11,792.44, a PE ratio of 24.02 and a beta of 0.85. Arconic Inc. has a one year low of $18.47 and a one year high of $30.69.

Arconic (NYSE:ARNC) last posted its quarterly earnings data on Monday, October 23rd. The basic materials company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Arconic had a negative net margin of 4.70% and a positive return on equity of 9.71%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. equities research analysts forecast that Arconic Inc. will post 1.16 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, November 25th. Shareholders of record on Friday, November 3rd were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $0.24 annualized dividend and a yield of 0.98%. Arconic’s dividend payout ratio (DPR) is -15.09%.

Several equities analysts recently weighed in on the stock. Vetr cut shares of Arconic from a “strong-buy” rating to a “hold” rating and set a $27.98 price target on the stock. in a research report on Monday, October 9th. Zacks Investment Research cut shares of Arconic from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Cowen reaffirmed a “hold” rating and issued a $25.00 price target on shares of Arconic in a research report on Thursday, October 19th. BidaskClub raised shares of Arconic from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. Finally, Seaport Global Securities reaffirmed a “buy” rating and issued a $29.00 price target (up previously from $27.00) on shares of Arconic in a research report on Tuesday, September 26th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Arconic currently has an average rating of “Buy” and an average target price of $28.33.

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About Arconic

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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