KBC Group NV lessened its stake in Arconic Inc. (NYSE:ARNC) by 28.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 514,389 shares of the basic materials company’s stock after selling 207,191 shares during the period. KBC Group NV owned 0.11% of Arconic worth $12,798,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ARNC. Fiduciary Trust Co. acquired a new position in Arconic during the 2nd quarter worth approximately $111,000. Capstone Investment Advisors Netherlands B.V. increased its position in Arconic by 47.9% during the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,950 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 1,604 shares during the period. Huntington National Bank acquired a new position in Arconic during the 3rd quarter worth approximately $132,000. Pitcairn Co. acquired a new position in Arconic during the 3rd quarter worth approximately $209,000. Finally, BRYN MAWR TRUST Co acquired a new position in Arconic during the 2nd quarter worth approximately $214,000. Hedge funds and other institutional investors own 74.71% of the company’s stock.

Shares of Arconic Inc. (ARNC) opened at $24.50 on Friday. The company has a market capitalization of $11,792.44, a P/E ratio of 24.02 and a beta of 0.86. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.38 and a current ratio of 2.30. Arconic Inc. has a 52 week low of $18.47 and a 52 week high of $30.69.

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

The company also recently declared a quarterly dividend, which was paid on Saturday, November 25th. Stockholders of record on Friday, November 3rd were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Thursday, November 2nd. Arconic’s dividend payout ratio (DPR) is -15.09%.

Several equities analysts have issued reports on the company. Morgan Stanley reiterated a “hold” rating and set a $27.00 target price on shares of Arconic in a research report on Tuesday, October 24th. Cowen reiterated a “hold” rating and set a $25.00 target price on shares of Arconic in a research report on Tuesday, October 31st. Deutsche Bank set a $31.00 target price on Arconic and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Vetr lowered Arconic from a “buy” rating to a “hold” rating and set a $27.97 price target on the stock. in a research note on Monday, October 23rd. Finally, BidaskClub raised Arconic from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company 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.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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