Greenwood Capital Associates LLC Acquires Shares of 9,045 Arconic Inc (ARNC)

Greenwood Capital Associates LLC acquired a new stake in Arconic Inc (NYSE:ARNC) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 9,045 shares of the basic materials company’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Huntington National Bank bought a new position in Arconic in the 3rd quarter valued at $132,000. Fox Run Management L.L.C. bought a new position in shares of Arconic in the 4th quarter worth $205,000. National Planning Corp bought a new position in shares of Arconic in the 3rd quarter worth $206,000. Pitcairn Co. bought a new position in shares of Arconic in the 3rd quarter worth $209,000. Finally, UMB Bank N A MO bought a new position in shares of Arconic in the 4th quarter worth $212,000. Hedge funds and other institutional investors own 74.58% of the company’s stock.

Arconic Inc (ARNC) opened at $26.52 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.38 and a current ratio of 2.30. The firm has a market capitalization of $14,011.35, a PE ratio of 28.54, a price-to-earnings-growth ratio of 0.95 and a beta of 0.93. Arconic Inc has a twelve month low of $21.75 and a twelve month high of $31.17.

Arconic (NYSE:ARNC) last posted its earnings results on Monday, February 5th. The basic materials company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.07. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.08 billion. Arconic had a positive return on equity of 9.71% and a negative net margin of 4.70%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 earnings per share. equities analysts predict that Arconic Inc will post 1.15 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, February 25th. Shareholders of record on Friday, February 2nd will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $0.24 annualized dividend and a yield of 0.90%. Arconic’s dividend payout ratio is presently -15.09%.

Several research analysts have recently issued reports on the company. Seaport Global Securities restated a “buy” rating and issued a $32.00 price target on shares of Arconic in a research report on Tuesday. Cowen restated a “hold” rating and issued a $25.00 price target on shares of Arconic in a research report on Thursday, February 1st. Morgan Stanley restated a “hold” rating and issued a $27.00 price target on shares of Arconic in a research report on Tuesday, October 24th. Zacks Investment Research lowered Arconic from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Finally, Deutsche Bank set a $31.00 price target on Arconic and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Arconic has a consensus rating of “Buy” and an average target price of $29.77.

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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.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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