Tocqueville Asset Management L.P. lessened its stake in shares of Arconic Inc (NASDAQ:ARNC) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 672,704 shares of the basic materials company’s stock after selling 10,897 shares during the period. Tocqueville Asset Management L.P. owned approximately 0.15% of Arconic worth $16,737,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. CIBC Asset Management Inc increased its position in Arconic by 0.5% during the 2nd quarter. CIBC Asset Management Inc now owns 33,622 shares of the basic materials company’s stock valued at $762,000 after buying an additional 165 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Arconic by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 27,300 shares of the basic materials company’s stock valued at $618,000 after purchasing an additional 200 shares during the last quarter. First Allied Advisory Services Inc. boosted its stake in Arconic by 1.7% during the 2nd quarter. First Allied Advisory Services Inc. now owns 18,249 shares of the basic materials company’s stock valued at $418,000 after purchasing an additional 307 shares during the last quarter. Lincoln National Corp boosted its stake in Arconic by 3.0% during the 2nd quarter. Lincoln National Corp now owns 20,324 shares of the basic materials company’s stock valued at $461,000 after purchasing an additional 595 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its stake in Arconic by 3.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 18,058 shares of the basic materials company’s stock valued at $409,000 after purchasing an additional 641 shares during the last quarter.

ARNC has been the topic of several recent analyst reports. Zacks Investment Research upgraded Arconic from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Tuesday, September 12th. Vetr upgraded Arconic to a “strong-buy” rating in a research note on Thursday, July 27th. Seaport Global Securities upgraded Arconic from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Thursday, July 13th. BidaskClub upgraded Arconic from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Finally, Longbow Research upgraded Arconic from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Arconic presently has a consensus rating of “Hold” and a consensus target price of $28.33.

In other Arconic news, Director Patricia F. Russo purchased 15,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were bought at an average cost of $24.57 per share, with a total value of $368,550.00. Following the completion of the acquisition, the director now owns 7,928 shares in the company, valued at $194,790.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elmer L. Doty purchased 6,000 shares of the stock in a transaction on Thursday, August 10th. The stock was acquired at an average cost of $24.51 per share, for a total transaction of $147,060.00. Following the completion of the acquisition, the director now owns 4,409 shares of the company’s stock, valued at approximately $108,064.59. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 26,000 shares of company stock worth $640,310.

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Arconic (NASDAQ:ARNC) last announced its quarterly earnings data on Monday, October 23rd. The basic materials company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Arconic had a net margin of 3.68% and a return on equity of 7.07%. Arconic’s revenue was up 3.1% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, November 25th. Shareholders of record on Friday, November 3rd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, November 2nd.

Arconic 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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