Daiwa Securities Group Inc. boosted its position in shares of Arconic Inc (NASDAQ:ARNC) by 79.8% during the second quarter, Holdings Channel reports. The institutional investor owned 62,433 shares of the basic materials company’s stock after buying an additional 27,700 shares during the period. Daiwa Securities Group Inc.’s holdings in Arconic were worth $1,414,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC increased its stake in Arconic by 10.5% in the first quarter. Parametric Portfolio Associates LLC now owns 562,339 shares of the basic materials company’s stock worth $14,812,000 after buying an additional 53,302 shares in the last quarter. State of Tennessee Treasury Department increased its stake in Arconic by 11.7% in the first quarter. State of Tennessee Treasury Department now owns 153,206 shares of the basic materials company’s stock worth $4,035,000 after buying an additional 16,074 shares in the last quarter. CIBC World Markets Inc. increased its stake in Arconic by 18.1% in the first quarter. CIBC World Markets Inc. now owns 24,898 shares of the basic materials company’s stock worth $656,000 after buying an additional 3,814 shares in the last quarter. Harris Associates L P purchased a new stake in Arconic during the first quarter worth $141,040,000. Finally, State of Wisconsin Investment Board increased its stake in Arconic by 19.8% in the first quarter. State of Wisconsin Investment Board now owns 287,141 shares of the basic materials company’s stock worth $7,563,000 after buying an additional 47,397 shares in the last quarter.

Shares of Arconic Inc (NASDAQ:ARNC) opened at 24.65 on Thursday. Arconic Inc has a 12 month low of $16.75 and a 12 month high of $30.69. The firm’s market cap is $10.87 billion. The stock’s 50 day moving average is $24.43 and its 200 day moving average is $26.32.

Arconic (NASDAQ:ARNC) last announced its earnings results on Monday, July 24th. The basic materials company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.18 billion. Arconic had a return on equity of 14.01% and a net margin of 6.50%. The company’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts expect that Arconic Inc will post $1.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 4th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.97%.

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A number of analysts have weighed in on ARNC shares. J P Morgan Chase & Co started coverage on shares of Arconic in a research report on Tuesday, April 18th. They set a “neutral” rating and a $29.00 target price for the company. Deutsche Bank AG reissued a “buy” rating and set a $32.00 target price on shares of Arconic in a research report on Wednesday, April 19th. Zacks Investment Research downgraded shares of Arconic from a “buy” rating to a “hold” rating in a research report on Monday, April 24th. Vetr downgraded shares of Arconic from a “strong-buy” rating to a “buy” rating and set a $29.73 target price for the company. in a research report on Tuesday, April 25th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $28.00 target price on shares of Arconic in a research report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Arconic presently has an average rating of “Buy” and a consensus price target of $26.88.

In other Arconic news, Director Christopher L. Ayers bought 7,325 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was bought at an average price of $27.31 per share, for a total transaction of $200,045.75. Following the completion of the acquisition, the director now directly owns 7,425 shares in the company, valued at $202,776.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrice E. Merrin bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were acquired at an average price of $27.17 per share, with a total value of $271,700.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $135,850. The disclosure for this purchase can be found here.

Arconic Company Profile

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 (NASDAQ:ARNC)

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