Arconic Inc (NYSE:ARNC) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 37,854,489 shares, a growth of 177.1% from the February 15th total of 13,662,234 shares. Based on an average trading volume of 4,751,460 shares, the short-interest ratio is currently 8.0 days. Currently, 8.0% of the company’s stock are sold short.

A number of brokerages have recently weighed in on ARNC. Zacks Investment Research lowered Arconic from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Cowen restated a “hold” rating and set a $20.00 price target on shares of Arconic in a research note on Friday, February 8th. ValuEngine lowered Arconic from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 22nd. JPMorgan Chase & Co. lowered Arconic from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $24.00 to $22.00 in a research note on Monday, January 14th. Finally, Longbow Research upgraded Arconic from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $23.25 to $18.26 in a research note on Thursday, December 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $23.48.

In other Arconic news, Chairman John C. Plant purchased 105,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were acquired at an average price of $18.67 per share, for a total transaction of $1,960,350.00. Following the completion of the purchase, the chairman now owns 28,282 shares of the company’s stock, valued at $528,024.94. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought 280,000 shares of company stock worth $5,192,250 in the last 90 days. Insiders own 0.17% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc lifted its holdings in Arconic by 1.5% in the third quarter. Vanguard Group Inc now owns 44,331,106 shares of the basic materials company’s stock valued at $975,728,000 after acquiring an additional 653,470 shares during the period. Canyon Capital Advisors LLC lifted its holdings in Arconic by 11.4% in the fourth quarter. Canyon Capital Advisors LLC now owns 9,466,073 shares of the basic materials company’s stock valued at $159,598,000 after acquiring an additional 965,305 shares during the period. Geode Capital Management LLC lifted its holdings in Arconic by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 5,550,992 shares of the basic materials company’s stock valued at $93,423,000 after acquiring an additional 390,464 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Arconic by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,849,849 shares of the basic materials company’s stock valued at $81,770,000 after acquiring an additional 97,501 shares during the period. Finally, Northern Trust Corp lifted its holdings in Arconic by 3.2% in the fourth quarter. Northern Trust Corp now owns 4,645,621 shares of the basic materials company’s stock valued at $78,325,000 after acquiring an additional 141,957 shares during the period. Hedge funds and other institutional investors own 82.24% of the company’s stock.

Shares of NYSE ARNC opened at $18.99 on Friday. The company has a market capitalization of $9.21 billion, a P/E ratio of 13.96 and a beta of 1.48. Arconic has a 52 week low of $15.63 and a 52 week high of $24.68. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.16 and a current ratio of 1.87.

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

The company also recently announced a quarterly dividend, which will be paid on Saturday, May 25th. Investors of record on Friday, May 3rd will be given a $0.02 dividend. 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 dividend payout ratio is currently 17.65%.

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Arconic Company Profile

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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