Arconic Inc (ARNC) Stake Boosted by Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. grew its stake in shares of Arconic Inc (NYSE:ARNC) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 888,243 shares of the basic materials company’s stock after acquiring an additional 50,614 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.18% of Arconic worth $19,550,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of ARNC. BlueMountain Capital Management LLC acquired a new position in Arconic in the 2nd quarter worth approximately $104,000. Fuller & Thaler Asset Management Inc. increased its holdings in Arconic by 198.0% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 7,300 shares of the basic materials company’s stock worth $124,000 after buying an additional 4,850 shares during the period. Highstreet Asset Management Inc. increased its holdings in Arconic by 1,475.0% in the 2nd quarter. Highstreet Asset Management Inc. now owns 8,442 shares of the basic materials company’s stock worth $144,000 after buying an additional 7,906 shares during the period. LMR Partners LLP acquired a new position in Arconic in the 2nd quarter worth approximately $171,000. Finally, UMB Bank N A MO acquired a new position in Arconic in the 3rd quarter worth approximately $208,000. Institutional investors own 83.58% of the company’s stock.
Arconic stock opened at $20.66 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.16 and a current ratio of 2.03. Arconic Inc has a 12 month low of $16.47 and a 12 month high of $31.17. The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 16.77 and a beta of 1.22.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, November 25th. Shareholders of record on Friday, November 2nd were given a $0.06 dividend. The ex-dividend date was Thursday, November 1st. This represents a $0.24 annualized dividend and a yield of 1.16%. Arconic’s dividend payout ratio is presently 19.67%.
Several brokerages recently weighed in on ARNC. Zacks Investment Research downgraded shares of Arconic from a “buy” rating to a “hold” rating in a report on Monday, August 13th. TheStreet upgraded shares of Arconic from a “d+” rating to a “c-” rating in a report on Monday, October 15th. Jefferies Financial Group set a $25.00 price target on shares of Arconic and gave the stock a “buy” rating in a report on Wednesday, October 31st. Morgan Stanley set a $22.00 price target on shares of Arconic and gave the stock a “hold” rating in a report on Wednesday, October 10th. Finally, ValuEngine upgraded shares of Arconic from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $24.20.
Arconic Company Profile
Arconic Inc engineers, manufactures, and sells lightweight metals of aluminum, titanium, and nickel worldwide. It operates through three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions produces and sells fastening systems and seamless rolled rings; investment castings, including airfoils and forged jet engine components; and extruded, machined, and formed aircraft parts, as well as various forged, extruded, and machined metal products.
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