Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Arconic Inc. (NYSE:ARNC) by 266.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 291,712 shares of the basic materials company’s stock after acquiring an additional 212,016 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Arconic worth $7,258,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ARNC. Capital Fund Management S.A. purchased a new position in Arconic in the 2nd quarter worth about $7,597,000. TSP Capital Management Group LLC increased its stake in Arconic by 5.9% in the 2nd quarter. TSP Capital Management Group LLC now owns 237,528 shares of the basic materials company’s stock worth $5,380,000 after buying an additional 13,260 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in Arconic by 15.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 22,322 shares of the basic materials company’s stock worth $506,000 after buying an additional 2,949 shares during the period. Andra AP fonden increased its stake in Arconic by 16.0% in the 2nd quarter. Andra AP fonden now owns 125,400 shares of the basic materials company’s stock worth $2,840,000 after buying an additional 17,300 shares during the period. Finally, Wayne Hummer Investments L.L.C. increased its stake in Arconic by 8.2% in the 2nd quarter. Wayne Hummer Investments L.L.C. now owns 9,630 shares of the basic materials company’s stock worth $218,000 after buying an additional 732 shares during the period. Hedge funds and other institutional investors own 73.19% of the company’s stock.

Arconic Inc. (ARNC) opened at $23.99 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.38 and a debt-to-equity ratio of 1.15. The company has a market cap of $11,546.96, a PE ratio of 23.52 and a beta of 0.88. Arconic Inc. has a 12-month low of $18.47 and a 12-month high of $30.69.

Arconic (NYSE:ARNC) last posted its earnings results on Monday, October 23rd. The basic materials company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Arconic had a negative net margin of 4.70% and a positive return on equity of 9.71%. Arconic’s revenue for the quarter was up 3.1% on a year-over-year basis. equities research analysts expect that Arconic Inc. will post 1.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, November 25th. Shareholders of record on Friday, November 3rd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Thursday, November 2nd. Arconic’s dividend payout ratio (DPR) is -15.09%.

Several research analysts recently commented on the stock. Zacks Investment Research raised shares of Arconic from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Cowen Inc reaffirmed a “hold” rating and issued a $25.00 price target on shares of Arconic in a research note on Tuesday, October 31st. Deutsche Bank AG set a $31.00 target price on shares of Arconic and gave the company a “buy” rating in a research report on Tuesday, October 24th. Morgan Stanley reissued a “hold” rating and set a $27.00 target price on shares of Arconic in a research report on Tuesday, October 24th. Finally, Vetr downgraded shares of Arconic from a “buy” rating to a “hold” rating and set a $27.97 target price on the stock. in a research report on Monday, October 23rd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Arconic presently has an average rating of “Buy” and a consensus target price of $28.33.

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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.

Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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