Glacier Peak Capital LLC Invests $3.46 Million in Arconic Inc (ARNC)

Glacier Peak Capital LLC bought a new stake in Arconic Inc (NYSE:ARNC) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 150,000 shares of the basic materials company’s stock, valued at approximately $3,456,000. Arconic makes up 2.1% of Glacier Peak Capital LLC’s portfolio, making the stock its 24th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARNC. NuWave Investment Management LLC lifted its stake in shares of Arconic by 10,065.5% in the first quarter. NuWave Investment Management LLC now owns 5,591 shares of the basic materials company’s stock valued at $128,000 after buying an additional 5,536 shares during the period. Prime Capital Investment Advisors LLC bought a new stake in shares of Arconic in the fourth quarter valued at about $142,000. Lazard Asset Management LLC bought a new stake in shares of Arconic in the fourth quarter valued at about $167,000. Bluestein R H & Co. bought a new position in Arconic during the fourth quarter worth about $204,000. Finally, MML Investors Services LLC bought a new position in Arconic during the fourth quarter worth about $216,000. Institutional investors and hedge funds own 83.56% of the company’s stock.

Shares of Arconic traded down $0.14, reaching $17.83, during trading on Thursday, MarketBeat.com reports. The stock had a trading volume of 25,235 shares, compared to its average volume of 4,344,976. Arconic Inc has a 52 week low of $16.66 and a 52 week high of $31.17. The company has a current ratio of 2.10, a quick ratio of 1.16 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $8.77 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 0.73 and a beta of 1.16.

Arconic (NYSE:ARNC) last posted its earnings results on Monday, April 30th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Arconic had a negative net margin of 1.91% and a positive return on equity of 11.40%. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. Arconic’s quarterly revenue was up 7.9% compared to the same quarter last year. analysts forecast that Arconic Inc will post 1.24 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, August 25th. Stockholders of record on Friday, August 3rd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, August 2nd. Arconic’s dividend payout ratio (DPR) is currently 19.67%.

In other Arconic news, major shareholder International L.P. Elliott bought 544,000 shares of the stock in a transaction on Tuesday, May 15th. The stock was purchased at an average price of $17.96 per share, with a total value of $9,770,240.00. Following the acquisition, the insider now owns 35,293,450 shares of the company’s stock, valued at $633,870,362. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ulrich Schmidt bought 2,000 shares of the stock in a transaction on Thursday, May 3rd. The shares were acquired at an average cost of $16.75 per share, with a total value of $33,500.00. Following the acquisition, the director now directly owns 12,854 shares in the company, valued at approximately $215,304.50. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

ARNC has been the subject of a number of analyst reports. Seaport Global Securities restated a “buy” rating and set a $29.00 price target on shares of Arconic in a research note on Thursday, April 19th. Longbow Research upgraded shares of Arconic from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 9th. They noted that the move was a valuation call. TheStreet cut shares of Arconic from a “c-” rating to a “d+” rating in a research note on Tuesday, May 29th. Morgan Stanley cut their price target on shares of Arconic from $27.00 to $22.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 1st. Finally, Barclays initiated coverage on shares of Arconic in a research note on Thursday, March 29th. They set an “equal weight” rating and a $26.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $27.00.

About Arconic

Arconic Inc engineers, manufactures, and sells lightweight metals of aluminum, titanium, and nickel worldwide. It operates through three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions produces and sells fastening systems and seamless rolled rings; investment castings, including airfoils and forged jet engine components; and extruded, machined, and formed aircraft parts, as well as various forged, extruded, and machined metal products.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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