Arconic Inc (ARNC) Stake Increased by Pacer Advisors Inc.
Pacer Advisors Inc. grew its holdings in shares of Arconic Inc (NASDAQ:ARNC) by 8.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,707 shares of the basic materials company’s stock after acquiring an additional 751 shares during the period. Pacer Advisors Inc.’s holdings in Arconic were worth $220,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in ARNC. Vanguard Group Inc. grew its stake in shares of Arconic by 3.9% during the first quarter. Vanguard Group Inc. now owns 41,877,016 shares of the basic materials company’s stock valued at $1,103,040,000 after acquiring an additional 1,559,763 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Arconic by 194.2% during the second quarter. Prudential Financial Inc. now owns 1,859,878 shares of the basic materials company’s stock valued at $42,126,000 after acquiring an additional 1,227,740 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Arconic during the first quarter valued at about $30,412,000. Laurion Capital Management LP grew its stake in shares of Arconic by 912.0% during the first quarter. Laurion Capital Management LP now owns 1,213,400 shares of the basic materials company’s stock valued at $31,961,000 after acquiring an additional 1,093,500 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Arconic during the second quarter valued at about $23,052,000.
Arconic Inc (ARNC) opened at 25.34 on Friday. The company has a 50-day moving average price of $24.94 and a 200-day moving average price of $25.99. Arconic Inc has a 1-year low of $16.75 and a 1-year high of $30.69. The firm’s market capitalization is $11.18 billion.
Arconic (NASDAQ:ARNC) last posted its earnings results on Monday, July 24th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the 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%. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts predict that Arconic Inc will post $1.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders 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 annualized dividend and a yield of 0.95%.
In other Arconic news, Director Patricia F. Russo bought 15,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was bought at an average price of $24.57 per share, with a total value of $368,550.00. Following the completion of the purchase, the director now directly owns 7,928 shares in the company, valued at $194,790.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James F. Albaugh bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were acquired at an average cost of $24.94 per share, with a total value of $124,700.00. Following the purchase, 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. In the last three months, insiders have acquired 26,000 shares of company stock valued at $640,310.
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A number of equities analysts recently commented on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $28.00 price target on shares of Arconic in a research note on Tuesday, June 13th. Vetr upgraded Arconic to a “strong-buy” rating in a research note on Thursday, July 27th. Cowen and Company reiterated a “hold” rating and issued a $25.00 price target on shares of Arconic in a research note on Monday, June 26th. Zacks Investment Research upgraded Arconic from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Tuesday, June 20th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of Arconic in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $27.25.
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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