Arconic Inc (NYSE:ARNC) – Investment analysts at Seaport Global Securities boosted their Q1 2019 earnings estimates for shares of Arconic in a report released on Thursday, April 11th. Seaport Global Securities analyst J. Sullivan now expects that the basic materials company will post earnings of $0.39 per share for the quarter, up from their previous forecast of $0.31. Seaport Global Securities also issued estimates for Arconic’s Q2 2019 earnings at $0.41 EPS and FY2019 earnings at $1.69 EPS.
Several other research analysts have also recently commented on ARNC. Zacks Investment Research cut Arconic from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, January 15th. ValuEngine raised Arconic from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. Longbow Research raised Arconic from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $23.25 to $18.26 in a research report on Thursday, December 20th. JPMorgan Chase & Co. cut Arconic from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $24.00 to $22.00 in a research report on Monday, January 14th. Finally, Cowen reaffirmed a “hold” rating and set a $20.00 price objective on shares of Arconic in a research report on Friday, February 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $23.03.
Arconic (NYSE:ARNC) last released its earnings results on Friday, February 8th. The basic materials company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.03. Arconic had a return on equity of 12.73% and a net margin of 4.58%. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the firm posted $0.31 EPS. Arconic’s revenue for the quarter was up 6.1% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, May 25th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.08 annualized dividend and a dividend yield of 0.39%. Arconic’s dividend payout ratio is currently 17.65%.
In other news, Chairman John C. Plant bought 105,000 shares of Arconic stock in a transaction dated Thursday, March 7th. The stock was acquired at an average cost of $18.51 per share, with a total value of $1,943,550.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 280,000 shares of company stock valued at $5,192,250. Insiders own 0.14% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Prime Capital Investment Advisors LLC lifted its holdings in shares of Arconic by 1.2% in the 1st quarter. Prime Capital Investment Advisors LLC now owns 72,832 shares of the basic materials company’s stock valued at $1,392,000 after purchasing an additional 875 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Arconic during the 1st quarter valued at approximately $676,000. Retirement Systems of Alabama raised its stake in Arconic by 1.4% during the 1st quarter. Retirement Systems of Alabama now owns 200,969 shares of the basic materials company’s stock valued at $3,841,000 after acquiring an additional 2,748 shares during the last quarter. Lodestar Investment Counsel LLC IL raised its stake in Arconic by 7.2% during the 1st quarter. Lodestar Investment Counsel LLC IL now owns 14,834 shares of the basic materials company’s stock valued at $283,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Reinhart Partners Inc. raised its stake in Arconic by 26.9% during the 1st quarter. Reinhart Partners Inc. now owns 1,398,942 shares of the basic materials company’s stock valued at $26,734,000 after acquiring an additional 296,707 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.
Arconic Inc engineers, manufactures, and sells lightweight metals worldwide. The company operate in 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 for aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets.
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