Teacher Retirement System of Texas lowered its position in shares of Arconic Inc (NASDAQ:ARNC) by 0.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,017,107 shares of the basic materials company’s stock after selling 470 shares during the period. Teacher Retirement System of Texas’ holdings in Arconic were worth $23,037,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARNC. Cleararc Capital Inc. increased its position in Arconic by 1.3% in the first quarter. Cleararc Capital Inc. now owns 10,787 shares of the basic materials company’s stock worth $284,000 after buying an additional 141 shares in the last quarter. CIBC Asset Management Inc increased its position in Arconic by 0.5% in the second quarter. CIBC Asset Management Inc now owns 33,622 shares of the basic materials company’s stock worth $762,000 after buying an additional 165 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Arconic by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 27,300 shares of the basic materials company’s stock worth $618,000 after buying an additional 200 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in Arconic by 1.8% in the first quarter. Stratos Wealth Partners LTD. now owns 11,914 shares of the basic materials company’s stock worth $314,000 after buying an additional 210 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in Arconic by 3.3% in the first quarter. Pacer Advisors Inc. now owns 8,956 shares of the basic materials company’s stock worth $236,000 after buying an additional 286 shares in the last quarter.

Arconic Inc (NASDAQ ARNC) opened at 23.99 on Friday. The firm has a 50-day moving average of $24.36 and a 200-day moving average of $26.32. The stock’s market cap is $10.58 billion. Arconic Inc has a 12-month low of $16.75 and a 12-month high of $30.69.

Arconic (NASDAQ:ARNC) last released its earnings results on Monday, July 24th. The basic materials company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.06. Arconic had a net margin of 6.50% and a return on equity of 14.01%. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.18 billion. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts predict that Arconic Inc will post $1.19 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 4th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Wednesday, August 2nd.

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A number of research firms recently issued reports on ARNC. Deutsche Bank AG restated a “buy” rating on shares of Arconic in a research report on Saturday, June 24th. Vetr upgraded shares of Arconic from a “sell” rating to a “hold” rating and set a $27.00 target price for the company in a research report on Monday, May 29th. J P Morgan Chase & Co upgraded shares of Arconic from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $30.00 to $29.00 in a research report on Monday, July 10th. Zacks Investment Research upgraded shares of Arconic from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Tuesday, June 20th. Finally, Seaport Global Securities upgraded shares of Arconic from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Thursday, July 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $26.88.

In other news, Director Christopher L. Ayers bought 7,325 shares of Arconic stock in a transaction dated 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 purchase, the director now owns 7,425 shares of the company’s stock, valued at $202,776.75. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James F. Albaugh bought 5,000 shares of Arconic stock in a transaction dated Wednesday, August 9th. The stock was purchased at an average price of $24.94 per share, with a total value of $124,700.00. Following the purchase, the director now directly owns 9,409 shares in the company, valued at approximately $234,660.46. The disclosure for this purchase can be found here. Insiders bought a total of 28,325 shares of company stock valued at $743,506 in the last 90 days.

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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