Dupont Capital Management Corp acquired a new position in Arc Logistic Partners LP (NYSE:ARCX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 61,181 shares of the pipeline company’s stock, valued at approximately $1,022,000. Dupont Capital Management Corp owned 0.31% of Arc Logistic Partners at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its holdings in Arc Logistic Partners by 32.3% in the first quarter. Goldman Sachs Group Inc. now owns 908,661 shares of the pipeline company’s stock worth $12,949,000 after purchasing an additional 221,662 shares during the period. Bank of America Corp DE boosted its holdings in shares of Arc Logistic Partners by 49.9% during the first quarter. Bank of America Corp DE now owns 407,276 shares of the pipeline company’s stock valued at $5,804,000 after acquiring an additional 135,650 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Arc Logistic Partners during the third quarter valued at $3,024,000. Mizuho Securities USA LLC acquired a new position in shares of Arc Logistic Partners during the third quarter valued at $2,429,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Arc Logistic Partners by 289.9% during the first quarter. Renaissance Technologies LLC now owns 104,441 shares of the pipeline company’s stock valued at $1,488,000 after acquiring an additional 77,656 shares during the period. 42.92% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the stock. BidaskClub downgraded shares of Arc Logistic Partners from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Zacks Investment Research raised shares of Arc Logistic Partners from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Stifel Nicolaus reissued a “hold” rating and set a $16.50 price target on shares of Arc Logistic Partners in a report on Friday, October 6th. Finally, SunTrust Banks, Inc. downgraded shares of Arc Logistic Partners from a “buy” rating to a “hold” rating and boosted their price target for the company from $15.00 to $16.50 in a report on Wednesday, August 30th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $16.50.
Arc Logistic Partners LP (NYSE ARCX) opened at $16.36 on Friday. Arc Logistic Partners LP has a 1-year low of $13.51 and a 1-year high of $17.40. The stock has a market cap of $319.68, a price-to-earnings ratio of 21.23, a PEG ratio of 13.26 and a beta of 0.80. The company has a current ratio of 0.96, a quick ratio of 1.02 and a debt-to-equity ratio of 0.74.
Arc Logistic Partners (NYSE:ARCX) last announced its quarterly earnings results on Tuesday, November 7th. The pipeline company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.11). Arc Logistic Partners had a net margin of 9.13% and a return on equity of 3.26%. sell-side analysts expect that Arc Logistic Partners LP will post 0.62 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 8th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 10.76%. The ex-dividend date of this dividend is Tuesday, November 7th. Arc Logistic Partners’s dividend payout ratio is currently 247.89%.
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About Arc Logistic Partners
Arc Logistics Partners LP owns, operates, develops and acquires a portfolio of energy logistics assets. The Company is engaged in the terminaling, storage, throughput and transloading of crude oil and petroleum products. The Company is focused on growing its business through the optimization, organic development and acquisition of terminaling, storage, rail, pipeline and other energy logistics assets.
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