Arconic Inc. (ARNC) Shares Sold by BLB&B Advisors LLC

BLB&B Advisors LLC lessened its position in Arconic Inc. (NYSE:ARNC) by 27.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 57,820 shares of the basic materials company’s stock after selling 22,116 shares during the quarter. BLB&B Advisors LLC’s holdings in Arconic were worth $1,576,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Harris Associates L P increased its stake in Arconic by 151.0% in the 2nd quarter. Harris Associates L P now owns 13,439,188 shares of the basic materials company’s stock valued at $304,398,000 after buying an additional 8,084,588 shares during the period. Orbis Allan Gray Ltd increased its stake in Arconic by 50.9% in the 2nd quarter. Orbis Allan Gray Ltd now owns 22,812,295 shares of the basic materials company’s stock valued at $517,132,000 after buying an additional 7,696,839 shares during the period. Permian Investment Partners LP acquired a new position in Arconic in the 2nd quarter valued at approximately $34,975,000. Dimensional Fund Advisors LP increased its stake in Arconic by 33.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,813,376 shares of the basic materials company’s stock valued at $131,682,000 after buying an additional 1,468,173 shares during the period. Finally, Vanguard Group Inc. increased its stake in Arconic by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 42,988,420 shares of the basic materials company’s stock valued at $973,688,000 after buying an additional 1,111,404 shares during the period. Institutional investors and hedge funds own 74.62% of the company’s stock.

Several research firms have weighed in on ARNC. Morgan Stanley reiterated a “hold” rating and issued a $27.00 price objective on shares of Arconic in a research note on Tuesday, October 24th. Cowen reiterated a “hold” rating and issued a $25.00 price objective on shares of Arconic in a research note on Tuesday, October 31st. Vetr lowered shares of Arconic from a “buy” rating to a “hold” rating and set a $27.97 price objective on the stock. in a research note on Monday, October 23rd. Deutsche Bank set a $31.00 price objective on shares of Arconic and gave the company a “buy” rating in a research note on Tuesday, October 24th. Finally, BidaskClub upgraded shares of Arconic from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Arconic has a consensus rating of “Buy” and a consensus price target of $29.44.

Arconic Inc. (ARNC) opened at $30.41 on Wednesday. Arconic Inc. has a 12 month low of $20.58 and a 12 month high of $31.17. The company has a market cap of $14,640.00, a price-to-earnings ratio of -14.14, a PEG ratio of 1.05 and a beta of 0.85. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.38 and a current ratio of 2.30.

Arconic (NYSE:ARNC) last announced its quarterly earnings results on Monday, October 23rd. The basic materials company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.09 billion. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. research analysts forecast that Arconic Inc. will post 1.15 earnings per share for the current year.

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Arconic 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.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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