Toronto Dominion Bank Has $10.28 Million Stake in Arconic Inc (ARNC)

Toronto Dominion Bank lifted its holdings in shares of Arconic Inc (NYSE:ARNC) by 52.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 537,915 shares of the basic materials company’s stock after purchasing an additional 184,570 shares during the quarter. Toronto Dominion Bank’s holdings in Arconic were worth $10,278,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. State Treasurer State of Michigan boosted its holdings in Arconic by 1.0% in the first quarter. State Treasurer State of Michigan now owns 124,334 shares of the basic materials company’s stock valued at $2,376,000 after acquiring an additional 1,200 shares during the last quarter. First Allied Advisory Services Inc. acquired a new position in Arconic in the first quarter valued at $310,000. Nissay Asset Management Corp Japan ADV boosted its holdings in Arconic by 3.7% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 39,070 shares of the basic materials company’s stock valued at $747,000 after acquiring an additional 1,391 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Arconic by 11.8% in the first quarter. California Public Employees Retirement System now owns 647,167 shares of the basic materials company’s stock valued at $12,367,000 after acquiring an additional 68,167 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Arconic by 57.4% in the first quarter. Victory Capital Management Inc. now owns 124,260 shares of the basic materials company’s stock valued at $2,375,000 after acquiring an additional 45,321 shares during the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

In other Arconic news, CEO John C. Plant bought 35,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average cost of $18.65 per share, with a total value of $652,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rajiv Gupta bought 22,603 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $22.10 per share, for a total transaction of $499,526.30. Following the completion of the transaction, the director now owns 38,420 shares of the company’s stock, valued at approximately $849,082. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 352,603 shares of company stock worth $6,798,776. 0.14% of the stock is currently owned by insiders.

A number of brokerages recently weighed in on ARNC. Cowen reiterated a “hold” rating and issued a $24.00 target price on shares of Arconic in a report on Wednesday, May 1st. Goldman Sachs Group upgraded Arconic from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $21.00 to $26.00 in a research note on Thursday, May 2nd. Zacks Investment Research upgraded Arconic from a “sell” rating to a “hold” rating in a research note on Monday, February 11th. Finally, ValuEngine upgraded Arconic from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $22.61.

Shares of ARNC opened at $21.96 on Friday. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 16.15 and a beta of 1.53. Arconic Inc has a 12 month low of $15.63 and a 12 month high of $23.60. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.94 and a current ratio of 1.65.

Arconic (NYSE:ARNC) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.03. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Arconic had a return on equity of 13.53% and a net margin of 4.86%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share. As a group, equities research analysts predict that Arconic Inc will post 1.79 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, May 25th. Shareholders of record on Friday, May 3rd will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend is Thursday, May 2nd. Arconic’s dividend payout ratio is presently 5.88%.

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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 segment 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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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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