Hsbc Holdings PLC trimmed its position in shares of Arconic Co. (NYSE:ARNC) by 87.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,292 shares of the basic materials company’s stock after selling 183,711 shares during the quarter. Hsbc Holdings PLC’s holdings in Arconic were worth $754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in ARNC. BlackRock Inc. increased its position in Arconic by 4.4% during the fourth quarter. BlackRock Inc. now owns 16,437,545 shares of the basic materials company’s stock valued at $489,840,000 after acquiring an additional 687,787 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Arconic by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 999,022 shares of the basic materials company’s stock worth $29,771,000 after purchasing an additional 6,421 shares in the last quarter. Morgan Stanley raised its holdings in Arconic by 23.4% in the 3rd quarter. Morgan Stanley now owns 928,491 shares of the basic materials company’s stock worth $17,688,000 after purchasing an additional 175,821 shares during the period. Victory Capital Management Inc. lifted its position in Arconic by 14.4% during the fourth quarter. Victory Capital Management Inc. now owns 860,132 shares of the basic materials company’s stock valued at $25,631,000 after purchasing an additional 108,463 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Arconic by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 740,397 shares of the basic materials company’s stock worth $22,064,000 after purchasing an additional 6,652 shares in the last quarter. Hedge funds and other institutional investors own 88.52% of the company’s stock.

In other news, VP Melissa M. Miller acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 26th. The stock was purchased at an average cost of $22.85 per share, for a total transaction of $68,550.00. Following the completion of the acquisition, the vice president now directly owns 95,353 shares of the company’s stock, valued at approximately $2,178,816.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy Donald Myers acquired 5,000 shares of the stock in a transaction that occurred on Friday, February 26th. The stock was acquired at an average cost of $22.52 per share, with a total value of $112,600.00. Following the completion of the purchase, the chief executive officer now owns 508,627 shares of the company’s stock, valued at $11,454,280.04. The disclosure for this purchase can be found here. Insiders have bought 12,400 shares of company stock valued at $279,446 in the last ninety days.

A number of equities analysts recently weighed in on ARNC shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Arconic from $43.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, February 25th. Benchmark raised their price objective on Arconic from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, December 10th. Finally, Zacks Investment Research downgraded Arconic from a “hold” rating to a “strong sell” rating in a research report on Monday, March 1st.

ARNC stock opened at $26.08 on Thursday. Arconic Co. has a twelve month low of $7.20 and a twelve month high of $31.85. The business’s fifty day simple moving average is $26.05 and its two-hundred day simple moving average is $26.23. The company has a current ratio of 2.06, a quick ratio of 1.32 and a debt-to-equity ratio of 0.86.

Arconic (NYSE:ARNC) last posted its quarterly earnings results on Monday, February 22nd. The basic materials company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.91). The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Arconic had a return on equity of 10.05% and a net margin of 2.97%. The company’s quarterly revenue was down 56.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. Analysts forecast that Arconic Co. will post 0.07 EPS for the current year.

About Arconic

Arconic Corporation manufactures and sells aluminum sheets, plates, extrusions, and architectural products in the United States, Canada, China, France, Germany, Hungary, Russia, and the United Kingdom. It operates through three segments: Rolled Products, Extrusions, and Building and Construction Systems.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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