Squarepoint Ops LLC lifted its position in Arconic Inc (NYSE:ARNC) by 207.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,163 shares of the basic materials company’s stock after acquiring an additional 94,588 shares during the quarter. Squarepoint Ops LLC’s holdings in Arconic were worth $2,363,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Enlightenment Research LLC acquired a new position in shares of Arconic in the 4th quarter worth $67,000. We Are One Seven LLC purchased a new position in shares of Arconic during the fourth quarter valued at $109,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Arconic by 1,764.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,173,996 shares of the basic materials company’s stock valued at $129,000 after buying an additional 2,057,395 shares in the last quarter. Cerebellum GP LLC purchased a new position in shares of Arconic during the fourth quarter valued at $135,000. Finally, Trust Asset Management LLC boosted its position in Arconic by 2,101.0% during the third quarter. Trust Asset Management LLC now owns 73,359 shares of the basic materials company’s stock valued at $204,000 after purchasing an additional 70,026 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.
In other news, Chairman John C. Plant acquired 105,000 shares of Arconic stock in a transaction on Tuesday, March 12th. The shares were purchased at an average price of $18.67 per share, with a total value of $1,960,350.00. Following the acquisition, the chairman now owns 28,282 shares in the company, valued at $528,024.94. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John C. Plant acquired 35,000 shares of Arconic stock in a transaction on Thursday, March 7th. The shares were purchased at an average cost of $18.16 per share, for a total transaction of $635,600.00. Following the acquisition, the chief executive officer now owns 28,282 shares in the company, valued at approximately $513,601.12. The disclosure for this purchase can be found here. Insiders bought a total of 280,000 shares of company stock worth $5,192,250 over the last three months. 0.14% of the stock is owned by company insiders.
Arconic (NYSE:ARNC) last released its quarterly earnings data on Friday, February 8th. The basic materials company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.47 billion. Arconic had a return on equity of 12.73% and a net margin of 4.58%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. Sell-side analysts forecast that Arconic Inc will post 1.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, May 25th. Stockholders of record on Friday, May 3rd will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Thursday, May 2nd. Arconic’s payout ratio is currently 17.65%.
ARNC has been the subject of a number of research reports. Zacks Investment Research cut Arconic from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. JPMorgan Chase & Co. cut Arconic from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $24.00 to $22.00 in a research report on Monday, January 14th. ValuEngine cut Arconic from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 22nd. Finally, Cowen reaffirmed a “hold” rating and issued a $20.00 price target 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 assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $22.36.
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Arconic Company Profile
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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