Arconic Inc (ARNC) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC grew its holdings in shares of Arconic Inc (NYSE:ARNC) by 10.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,498,113 shares of the basic materials company’s stock after buying an additional 412,226 shares during the period. Geode Capital Management LLC’s holdings in Arconic were worth $122,322,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC raised its position in shares of Arconic by 74.5% during the third quarter. Janus Henderson Group PLC now owns 143,645 shares of the basic materials company’s stock worth $3,574,000 after purchasing an additional 61,340 shares during the period. Nordea Investment Management AB raised its position in shares of Arconic by 41.2% during the third quarter. Nordea Investment Management AB now owns 146,279 shares of the basic materials company’s stock worth $3,639,000 after purchasing an additional 42,702 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Arconic by 6.3% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 61,553 shares of the basic materials company’s stock worth $1,722,000 after purchasing an additional 3,647 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Arconic by 7.5% during the third quarter. Cubist Systematic Strategies LLC now owns 121,200 shares of the basic materials company’s stock worth $3,015,000 after purchasing an additional 8,501 shares during the period. Finally, Trinity Street Asset Management LLP raised its position in shares of Arconic by 11.4% during the fourth quarter. Trinity Street Asset Management LLP now owns 1,407,826 shares of the basic materials company’s stock worth $38,363,000 after purchasing an additional 143,760 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.
In related news, Director David P. Hess purchased 40,300 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average cost of $24.80 per share, with a total value of $999,440.00. Following the transaction, the director now owns 127,870 shares of the company’s stock, valued at approximately $3,171,176. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.12% of the company’s stock.
Shares of Arconic Inc (NYSE ARNC) opened at $25.19 on Friday. The company has a market capitalization of $12,160.00, a price-to-earnings ratio of 76.33, a P/E/G ratio of 0.84 and a beta of 1.09. Arconic Inc has a 12-month low of $21.75 and a 12-month high of $31.17. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.26 and a quick ratio of 1.38.
Arconic (NYSE:ARNC) last released its quarterly earnings results on Monday, February 5th. The basic materials company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.08 billion. Arconic had a positive return on equity of 11.29% and a negative net margin of 0.57%. Arconic’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 EPS. equities analysts anticipate that Arconic Inc will post 1.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 4th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, May 3rd. Arconic’s payout ratio is currently 72.73%.
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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