Arconic Inc. (ARNC) Stake Lessened by TD Asset Management Inc.

TD Asset Management Inc. lessened its stake in Arconic Inc. (NYSE:ARNC) by 9.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 175,919 shares of the basic materials company’s stock after selling 18,345 shares during the quarter. TD Asset Management Inc.’s holdings in Arconic were worth $4,377,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Capital Fund Management S.A. acquired a new stake in shares of Arconic in the 2nd quarter valued at about $7,597,000. TSP Capital Management Group LLC raised its stake in Arconic by 5.9% during the second quarter. TSP Capital Management Group LLC now owns 237,528 shares of the basic materials company’s stock worth $5,380,000 after acquiring an additional 13,260 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in Arconic by 15.2% during the second quarter. Dynamic Technology Lab Private Ltd now owns 22,322 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 2,949 shares during the period. Andra AP fonden raised its stake in Arconic by 16.0% during the second quarter. Andra AP fonden now owns 125,400 shares of the basic materials company’s stock worth $2,840,000 after acquiring an additional 17,300 shares during the period. Finally, Wayne Hummer Investments L.L.C. raised its stake in Arconic by 8.2% during the second quarter. Wayne Hummer Investments L.L.C. now owns 9,630 shares of the basic materials company’s stock worth $218,000 after acquiring an additional 732 shares during the period. Institutional investors and hedge funds own 74.62% of the company’s stock.

Arconic Inc. (NYSE:ARNC) traded down $0.37 during midday trading on Friday, reaching $27.25. 2,680,185 shares of the company’s stock traded hands, compared to its average volume of 2,869,790. Arconic Inc. has a 1 year low of $18.47 and a 1 year high of $30.69. The company has a current ratio of 2.30, a quick ratio of 1.38 and a debt-to-equity ratio of 1.15. The company has a market cap of $13,294.17, a PE ratio of -17.14 and a beta of 0.85.

Arconic (NYSE:ARNC) last posted its earnings results on Monday, October 23rd. The basic materials company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Arconic had a positive return on equity of 9.71% and a negative net margin of 4.70%. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.09 billion. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. equities research analysts anticipate that Arconic Inc. will post 1.17 earnings per share for the current year.

Several research firms recently weighed in on ARNC. Cowen reiterated a “hold” rating and set a $25.00 price objective on shares of Arconic in a research note on Tuesday, October 31st. Zacks Investment Research lowered shares of Arconic from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Vetr upgraded shares of Arconic from a “hold” rating to a “buy” rating and set a $27.97 price objective on the stock in a research note on Tuesday, October 17th. Finally, Seaport Global Securities reiterated a “buy” rating and set a $29.00 price objective (up previously from $27.00) on shares of Arconic in a research note on Tuesday, September 26th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $28.75.

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Arconic Company Profile

Arconic Inc, formerly Alcoa Inc, is engaged in lightweight metals engineering and manufacturing. The Company operates through three segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. Its multi-material products, which include aluminum, titanium and nickel, are used around the world in markets, such as aerospace, automotive, commercial transportation and packaging.

Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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