LMR Partners LLP acquired a new position in Arconic Inc (NASDAQ:ARNC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,509 shares of the basic materials company’s stock, valued at approximately $374,000.

Several other large investors also recently made changes to their positions in the company. Cleararc Capital Inc. boosted its stake in shares of 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 boosted its stake in shares of 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 boosted its stake in shares of 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. boosted its stake in shares of 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. boosted its stake in shares of 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 (ARNC) opened at 24.48 on Tuesday. Arconic Inc has a 12-month low of $16.75 and a 12-month high of $30.69. The company’s 50 day moving average price is $24.57 and its 200-day moving average price is $26.42. The firm’s market capitalization is $10.80 billion.

Arconic (NASDAQ:ARNC) last announced its quarterly earnings results on Monday, July 24th. The basic materials company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.06. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Arconic had a return on equity of 14.01% and a net margin of 6.50%. Arconic’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts anticipate that Arconic Inc will post $1.18 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 4th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Wednesday, August 2nd.

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

In other Arconic news, Director Christopher L. Ayers bought 7,325 shares of Arconic stock in a transaction that occurred on Friday, May 26th. The stock was acquired at an average cost of $27.31 per share, for a total transaction of $200,045.75. Following the completion of the transaction, the director now directly owns 7,425 shares in the company, valued at $202,776.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James F. Albaugh bought 5,000 shares of Arconic stock in a transaction that occurred on Wednesday, August 9th. The shares were acquired at an average price of $24.94 per share, with a total value of $124,700.00. Following the completion of the transaction, the director now owns 9,409 shares of the company’s stock, valued at $234,660.46. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 43,325 shares of company stock valued at $1,112,056.

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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