Arconic Inc. (ARNC) Position Trimmed by Chevy Chase Trust Holdings Inc.

Chevy Chase Trust Holdings Inc. decreased its position in shares of Arconic Inc. (NYSE:ARNC) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 338,637 shares of the basic materials company’s stock after selling 41,228 shares during the quarter. Chevy Chase Trust Holdings Inc. owned 0.07% of Arconic worth $8,426,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Allied Advisory Services Inc. raised its stake in Arconic by 1.7% during the second quarter. First Allied Advisory Services Inc. now owns 18,249 shares of the basic materials company’s stock worth $418,000 after acquiring an additional 307 shares in the last quarter. Lincoln National Corp raised its stake in Arconic by 3.0% during the second quarter. Lincoln National Corp now owns 20,324 shares of the basic materials company’s stock worth $461,000 after acquiring an additional 595 shares in the last quarter. Riverhead Capital Management LLC raised its stake in Arconic by 3.7% during the second quarter. Riverhead Capital Management LLC now owns 18,058 shares of the basic materials company’s stock worth $409,000 after acquiring an additional 641 shares in the last quarter. Wayne Hummer Investments L.L.C. raised its stake in Arconic by 8.2% during the second quarter. Wayne Hummer Investments L.L.C. now owns 9,630 shares of the basic materials company’s stock worth $218,000 after acquiring an additional 732 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Arconic by 8.4% during the second quarter. Pacer Advisors Inc. now owns 9,707 shares of the basic materials company’s stock worth $220,000 after acquiring an additional 751 shares in the last quarter. 74.71% of the stock is owned by institutional investors and hedge funds.

Several research analysts have commented on ARNC shares. Longbow Research raised Arconic from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Tuesday, August 22nd. Zacks Investment Research raised Arconic from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Tuesday, September 12th. BidaskClub raised Arconic from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Seaport Global Securities reaffirmed a “buy” rating and issued a $29.00 price objective (up previously from $27.00) on shares of Arconic in a research note on Tuesday, September 26th. Finally, Vetr downgraded Arconic from a “strong-buy” rating to a “hold” rating and set a $27.98 price objective for the company. in a research note on Monday, October 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Arconic has an average rating of “Hold” and a consensus price target of $28.75.

Arconic Inc. (NYSE ARNC) opened at $25.30 on Friday. Arconic Inc. has a 52 week low of $18.47 and a 52 week high of $30.69. The company has a quick ratio of 1.38, a current ratio of 2.30 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $12,028.29, a P/E ratio of 24.50 and a beta of 0.85.

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

The company also recently disclosed a quarterly dividend, which was paid on Saturday, November 25th. Stockholders of record on Friday, November 3rd were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, November 2nd. Arconic’s dividend payout ratio is currently -15.09%.

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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.

Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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