Janus Henderson Group PLC Grows Holdings in Arconic Inc. (ARNC)

Janus Henderson Group PLC grew its stake in Arconic Inc. (NYSE:ARNC) by 74.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 143,645 shares of the basic materials company’s stock after buying an additional 61,340 shares during the quarter. Janus Henderson Group PLC’s holdings in Arconic were worth $3,574,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Fund Management S.A. purchased a new position in shares of Arconic in the 2nd quarter valued at about $7,597,000. Nordea Investment Management AB boosted its stake in shares of Arconic by 41.2% in the 3rd quarter. Nordea Investment Management AB now owns 146,279 shares of the basic materials company’s stock valued at $3,639,000 after buying an additional 42,702 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in shares of Arconic by 15.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 22,322 shares of the basic materials company’s stock valued at $506,000 after buying an additional 2,949 shares during the period. Andra AP fonden boosted its stake in shares of Arconic by 16.0% in the 2nd quarter. Andra AP fonden now owns 125,400 shares of the basic materials company’s stock valued at $2,840,000 after buying an additional 17,300 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Arconic by 24.6% in the 2nd quarter. Toronto Dominion Bank now owns 150,125 shares of the basic materials company’s stock valued at $3,399,000 after buying an additional 29,635 shares during the period. Institutional investors and hedge funds own 74.62% of the company’s stock.

Several brokerages have recently issued reports on ARNC. Zacks Investment Research upgraded Arconic from a “sell” rating to a “hold” rating in a research note on Tuesday. Cowen reiterated a “hold” rating and issued a $25.00 price objective on shares of Arconic in a research note on Tuesday, October 31st. Deutsche Bank set a $31.00 price objective on Arconic and gave the company a “buy” rating in a research note on Tuesday, October 24th. Morgan Stanley reiterated a “hold” rating and issued a $27.00 price objective on shares of Arconic in a research note on Tuesday, October 24th. Finally, Vetr cut Arconic from a “buy” rating to a “hold” rating and set a $27.97 price objective for the company. in a research note on Monday, October 23rd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Arconic currently has a consensus rating of “Hold” and an average target price of $28.75.

Shares of Arconic Inc. (ARNC) opened at $27.25 on Friday. The firm has a market capitalization of $13,294.17, a P/E ratio of -17.14 and a beta of 0.85. Arconic Inc. has a 52 week low of $18.47 and a 52 week high of $30.69. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.38 and a current ratio of 2.30.

Arconic (NYSE:ARNC) last posted its earnings results on Monday, October 23rd. The basic materials company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Arconic had a positive return on equity of 9.71% and a negative net margin of 4.70%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. analysts forecast that Arconic Inc. will post 1.17 EPS for the current year.

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Arconic 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.

Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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