Arconic Inc (NYSE:ARNC) Chairman John C. Plant bought 105,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were acquired at an average cost of $18.67 per share, for a total transaction of $1,960,350.00. Following the purchase, the chairman now owns 28,282 shares in the company, valued at $528,024.94. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

John C. Plant also recently made the following trade(s):

  • On Thursday, March 7th, John C. Plant purchased 35,000 shares of Arconic stock. The stock was purchased at an average cost of $18.16 per share, with a total value of $635,600.00.
  • On Tuesday, March 5th, John C. Plant purchased 35,000 shares of Arconic stock. The stock was purchased at an average cost of $18.65 per share, with a total value of $652,750.00.
  • On Thursday, March 7th, John C. Plant purchased 105,000 shares of Arconic stock. The stock was purchased at an average cost of $18.51 per share, with a total value of $1,943,550.00.

Shares of Arconic stock opened at $18.95 on Friday. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 13.93 and a beta of 1.48. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.87 and a quick ratio of 1.16. Arconic Inc has a 12-month low of $15.63 and a 12-month high of $24.68.

Arconic (NYSE:ARNC) last announced its earnings results on Friday, February 8th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Arconic had a return on equity of 12.73% and a net margin of 4.58%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. As a group, equities analysts predict that Arconic Inc will post 1.64 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, May 25th. Shareholders of record on Friday, May 3rd will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.08 dividend on an annualized basis and a yield of 0.42%. Arconic’s payout ratio is currently 17.65%.

A number of institutional investors have recently made changes to their positions in the business. Nissay Asset Management Corp Japan ADV boosted its position in Arconic by 3.2% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 37,679 shares of the basic materials company’s stock worth $635,000 after purchasing an additional 1,186 shares during the period. Advisor Group Inc. boosted its position in Arconic by 7.8% during the fourth quarter. Advisor Group Inc. now owns 18,474 shares of the basic materials company’s stock worth $311,000 after purchasing an additional 1,331 shares during the period. Creative Planning boosted its position in Arconic by 15.3% during the fourth quarter. Creative Planning now owns 12,890 shares of the basic materials company’s stock worth $217,000 after purchasing an additional 1,713 shares during the period. Alambic Investment Management L.P. boosted its position in Arconic by 11.3% during the third quarter. Alambic Investment Management L.P. now owns 26,500 shares of the basic materials company’s stock worth $583,000 after purchasing an additional 2,700 shares during the period. Finally, Pacer Advisors Inc. boosted its position in Arconic by 14.3% during the third quarter. Pacer Advisors Inc. now owns 21,837 shares of the basic materials company’s stock worth $481,000 after purchasing an additional 2,738 shares during the period. 82.24% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on the company. Zacks Investment Research cut Arconic from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, January 15th. Longbow Research raised Arconic from a “neutral” rating to a “buy” rating and lowered their price target for the company from $23.25 to $18.26 in a research note on Thursday, December 20th. JPMorgan Chase & Co. cut Arconic from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $24.00 to $22.00 in a research note on Monday, January 14th. ValuEngine cut Arconic from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 22nd. Finally, Cowen reissued a “hold” rating and issued a $20.00 price target on shares of Arconic in a research note on Friday, February 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $23.48.

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About Arconic

Arconic Inc engineers, manufactures, and sells lightweight metals worldwide. The company operate in 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 for aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets.

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