Commonwealth Equity Services LLC increased its holdings in Arconic Inc (NYSE:ARNC) by 22.2% in the 4th quarter, HoldingsChannel reports. The fund owned 86,189 shares of the basic materials company’s stock after buying an additional 15,675 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Arconic were worth $1,453,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Private Advisor Group LLC raised its position in Arconic by 114.6% in the 3rd quarter. Private Advisor Group LLC now owns 27,378 shares of the basic materials company’s stock worth $603,000 after purchasing an additional 14,623 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Arconic by 22.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 143,254 shares of the basic materials company’s stock worth $3,153,000 after purchasing an additional 26,277 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in Arconic by 9.8% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 58,133 shares of the basic materials company’s stock worth $1,280,000 after purchasing an additional 5,200 shares during the last quarter. ING Groep NV bought a new position in Arconic in the 3rd quarter worth approximately $726,000. Finally, SG Americas Securities LLC raised its position in Arconic by 4.6% in the 3rd quarter. SG Americas Securities LLC now owns 245,561 shares of the basic materials company’s stock worth $5,405,000 after purchasing an additional 10,757 shares during the last quarter. Institutional investors own 82.24% of the company’s stock.

In other Arconic news, Chairman John C. Plant bought 105,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was bought at an average price of $18.51 per share, for a total transaction of $1,943,550.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 280,000 shares of company stock valued at $5,192,250 in the last quarter. Corporate insiders own 0.17% of the company’s stock.

Several research firms recently weighed in on ARNC. Zacks Investment Research cut shares of Arconic from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, January 15th. Longbow Research upgraded shares of Arconic from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $23.25 to $18.26 in a research report on Thursday, December 20th. JPMorgan Chase & Co. cut shares of Arconic from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $24.00 to $22.00 in a research report on Monday, January 14th. ValuEngine cut shares of Arconic from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 22nd. Finally, Cowen restated a “hold” rating and issued a $20.00 price objective on shares of Arconic in a research report on Friday, February 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $23.48.

Shares of Arconic stock opened at $18.99 on Friday. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 13.96 and a beta of 1.48. Arconic Inc has a 52 week low of $15.63 and a 52 week high of $24.68. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.87 and a quick ratio of 1.16.

Arconic (NYSE:ARNC) last issued its earnings results on Friday, February 8th. The basic materials company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Arconic had a net margin of 4.58% and a return on equity of 12.73%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS. As a group, sell-side analysts forecast that Arconic Inc will post 1.64 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, May 25th. Shareholders of record on Friday, May 3rd will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Thursday, May 2nd. Arconic’s payout ratio is 17.65%.

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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.

Further Reading: What is a balanced fund?

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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