Great West Life Assurance Co. Can reduced its holdings in shares of Arconic Inc (NYSE:ARNC) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 275,647 shares of the basic materials company’s stock after selling 7,402 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Arconic were worth $4,416,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in ARNC. Oregon Public Employees Retirement Fund boosted its position in shares of Arconic by 1,764.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,173,996 shares of the basic materials company’s stock valued at $129,000 after purchasing an additional 2,057,395 shares during the period. Morgan Stanley lifted its position in Arconic by 134.9% during the 3rd quarter. Morgan Stanley now owns 3,406,246 shares of the basic materials company’s stock worth $74,972,000 after acquiring an additional 1,955,880 shares during the period. State of New Jersey Common Pension Fund D lifted its position in Arconic by 136.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 2,250,000 shares of the basic materials company’s stock worth $37,935,000 after acquiring an additional 1,300,000 shares during the period. Canyon Capital Advisors LLC lifted its position in Arconic by 17.9% during the 3rd quarter. Canyon Capital Advisors LLC now owns 8,500,768 shares of the basic materials company’s stock worth $187,102,000 after acquiring an additional 1,292,668 shares during the period. Finally, Korea Investment CORP lifted its position in Arconic by 340.1% during the 3rd quarter. Korea Investment CORP now owns 874,400 shares of the basic materials company’s stock worth $19,246,000 after acquiring an additional 675,730 shares during the period. 82.24% of the stock is owned by institutional investors and hedge funds.

NYSE ARNC opened at $18.99 on Monday. Arconic Inc has a 1-year low of $15.63 and a 1-year high of $24.68. The company has a market capitalization of $9.21 billion, a P/E ratio of 13.96 and a beta of 1.48. The company has a quick ratio of 1.16, a current ratio of 1.87 and a debt-to-equity ratio of 1.07.

Arconic (NYSE:ARNC) last released its quarterly earnings data on Friday, February 8th. The basic materials company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. Arconic had a return on equity of 12.73% and a net margin of 4.58%. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the business posted $0.31 EPS. Arconic’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts expect that Arconic Inc will post 1.64 EPS for the current fiscal year.

The business also recently declared 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. This represents a $0.08 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Thursday, May 2nd. Arconic’s payout ratio is 17.65%.

A number of analysts have weighed in on ARNC shares. Cowen reaffirmed a “hold” rating and set a $20.00 price objective on shares of Arconic in a research report on Friday, February 8th. ValuEngine cut Arconic from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 22nd. JPMorgan Chase & Co. cut Arconic from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $24.00 to $22.00 in a research report on Monday, January 14th. Longbow Research raised Arconic from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $23.25 to $18.26 in a research report on Thursday, December 20th. Finally, Zacks Investment Research raised Arconic from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research report on Thursday, January 3rd. 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 company presently has a consensus rating of “Hold” and an average price target of $23.48.

In related news, Chairman John C. Plant purchased 105,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was bought at an average price of $18.67 per share, with a total value of $1,960,350.00. Following the completion of the transaction, the chairman now owns 28,282 shares of the company’s stock, valued at approximately $528,024.94. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 280,000 shares of company stock valued at $5,192,250 in the last three months. 0.17% of the stock is currently owned by company insiders.

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Arconic 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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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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