Alps Advisors Inc. bought a new stake in Arconic Inc (NYSE:ARNC) in the fourth quarter, HoldingsChannel reports. The fund bought 17,365 shares of the basic materials company’s stock, valued at approximately $473,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ark Investment Management LLC lifted its holdings in Arconic by 54.3% in the 2nd quarter. Ark Investment Management LLC now owns 16,515 shares of the basic materials company’s stock valued at $374,000 after acquiring an additional 5,810 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Arconic by 30.6% in the 2nd quarter. Janus Henderson Group PLC now owns 82,305 shares of the basic materials company’s stock valued at $1,865,000 after acquiring an additional 19,276 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Arconic by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 518,770 shares of the basic materials company’s stock valued at $11,752,000 after acquiring an additional 14,478 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Arconic in the 2nd quarter valued at about $651,000. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in Arconic by 15.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 22,322 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 2,949 shares during the last quarter. Hedge funds and other institutional investors own 74.55% of the company’s stock.

Shares of Arconic Inc (ARNC) opened at $24.84 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.38 and a current ratio of 2.26. Arconic Inc has a 52 week low of $21.75 and a 52 week high of $31.17. The company has a market cap of $11,960.00, a PE ratio of -95.54, a price-to-earnings-growth ratio of 0.82 and a beta of 0.93.

Arconic (NYSE:ARNC) last posted its quarterly earnings data on Monday, February 5th. The basic materials company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. Arconic had a negative net margin of 0.57% and a positive return on equity of 11.29%. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. equities research analysts predict that Arconic Inc will post 1.5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, February 25th. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, February 1st. Arconic’s dividend payout ratio is presently -92.31%.

ARNC has been the subject of a number of research analyst reports. Morgan Stanley reissued a “hold” rating and issued a $27.00 price target on shares of Arconic in a report on Tuesday, October 24th. Seaport Global Securities reissued a “buy” rating and issued a $33.00 price target on shares of Arconic in a report on Monday, January 22nd. Zacks Investment Research raised shares of Arconic from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Deutsche Bank set a $31.00 price target on shares of Arconic and gave the company a “buy” rating in a report on Tuesday, October 24th. Finally, Cowen reissued a “hold” rating and issued a $25.00 price target on shares of Arconic in a report on Thursday, October 19th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Arconic currently has an average rating of “Buy” and an average price target of $29.77.

In other news, Director David P. Hess acquired 40,300 shares of Arconic stock in a transaction on Thursday, February 8th. The stock was bought at an average cost of $24.80 per share, with a total value of $999,440.00. Following the completion of the purchase, the director now owns 127,870 shares of the company’s stock, valued at $3,171,176. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.12% of the stock is currently owned by corporate insiders.

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About Arconic

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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