TSP Capital Management Group LLC increased its stake in Arconic Inc (NASDAQ:ARNC) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 237,528 shares of the basic materials company’s stock after buying an additional 13,260 shares during the period. Arconic accounts for 2.5% of TSP Capital Management Group LLC’s holdings, making the stock its 17th largest position. TSP Capital Management Group LLC owned about 0.05% of Arconic worth $5,380,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ARNC. Cleararc Capital Inc. raised its stake in Arconic by 1.3% in the first quarter. Cleararc Capital Inc. now owns 10,787 shares of the basic materials company’s stock valued at $284,000 after buying an additional 141 shares during the period. CIBC Asset Management Inc raised its stake 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 valued at $762,000 after buying an additional 165 shares during the period. Louisiana State Employees Retirement System raised its stake 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 valued at $618,000 after buying an additional 200 shares during the period. Stratos Wealth Partners LTD. raised its stake 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 valued at $314,000 after buying an additional 210 shares during the period. Finally, Pacer Advisors Inc. raised its stake in Arconic by 3.3% in the first quarter. Pacer Advisors Inc. now owns 8,956 shares of the basic materials company’s stock valued at $236,000 after buying an additional 286 shares during the period.

Arconic Inc (NASDAQ ARNC) opened at 24.71 on Tuesday. The firm’s 50-day moving average price is $24.81 and its 200-day moving average price is $26.40. Arconic Inc has a 12 month low of $16.75 and a 12 month high of $30.69. The stock’s market cap is $10.90 billion.

Arconic (NASDAQ:ARNC) last posted its quarterly earnings data on Monday, July 24th. The basic materials company reported $0.32 EPS for the quarter, beating the Zacks’ 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 business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.18 billion. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, analysts predict that Arconic Inc will post $1.18 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 4th were paid a dividend of $0.06 per share. The ex-dividend date was Wednesday, August 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.95%.

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Several research firms recently commented on ARNC. Deutsche Bank AG reaffirmed a “buy” rating on shares of Arconic in a report on Saturday, June 24th. Vetr upgraded Arconic from a “sell” rating to a “hold” rating and set a $27.00 price target on the stock in a research report on Monday, May 29th. J P Morgan Chase & Co upgraded Arconic from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $30.00 to $29.00 in a research report on Monday, July 10th. Zacks Investment Research upgraded Arconic from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, June 20th. Finally, Seaport Global Securities upgraded Arconic from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $27.53.

In related news, Director James F. Albaugh acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were acquired at an average price of $24.94 per share, for a total transaction of $124,700.00. Following the completion of the purchase, the director now directly owns 9,409 shares of the company’s stock, valued at $234,660.46. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Patricia F. Russo acquired 15,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average price of $24.57 per share, for a total transaction of $368,550.00. Following the purchase, the director now directly owns 7,928 shares of the company’s stock, valued at $194,790.96. The disclosure for this purchase can be found here. Insiders have purchased 26,000 shares of company stock worth $640,310 in the last quarter.

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.

Institutional Ownership by Quarter for Arconic (NASDAQ:ARNC)

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