Teacher Retirement System of Texas Lowers Position in Arconic Inc (ARNC)

Teacher Retirement System of Texas trimmed its holdings in Arconic Inc (NYSE:ARNC) by 85.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 109,148 shares of the basic materials company’s stock after selling 620,644 shares during the period. Teacher Retirement System of Texas’ holdings in Arconic were worth $2,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC grew its stake in Arconic by 74.5% in the 3rd quarter. Janus Henderson Group PLC now owns 143,645 shares of the basic materials company’s stock valued at $3,574,000 after acquiring an additional 61,340 shares during the last quarter. Nordea Investment Management AB grew its stake in Arconic by 41.2% in the 3rd quarter. Nordea Investment Management AB now owns 146,279 shares of the basic materials company’s stock valued at $3,639,000 after acquiring an additional 42,702 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its stake in Arconic by 15.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 22,322 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 2,949 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Arconic by 7.5% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 121,200 shares of the basic materials company’s stock valued at $3,015,000 after acquiring an additional 8,501 shares during the last quarter. Finally, Trinity Street Asset Management LLP grew its stake in Arconic by 11.4% in the 4th quarter. Trinity Street Asset Management LLP now owns 1,407,826 shares of the basic materials company’s stock valued at $38,363,000 after acquiring an additional 143,760 shares during the last quarter. 74.85% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director David P. Hess acquired 40,300 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were bought at an average price of $24.80 per share, for a total transaction of $999,440.00. Following the completion of the purchase, the director now directly owns 127,870 shares of the company’s stock, valued at approximately $3,171,176. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.12% of the company’s stock.

Arconic Inc (ARNC) opened at $25.36 on Tuesday. Arconic Inc has a 1-year low of $21.75 and a 1-year high of $31.17. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.26 and a quick ratio of 1.38. The company has a market cap of $12,208.72, a P/E ratio of -115.27, a P/E/G ratio of 0.85 and a beta of 0.93.

Arconic (NYSE:ARNC) last posted its quarterly earnings data on Monday, February 5th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.08 billion. Arconic had a negative net margin of 0.57% and a positive return on equity of 11.29%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 earnings per share. equities analysts expect that Arconic Inc will post 1.5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 4th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, May 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.95%. Arconic’s dividend payout ratio is currently -109.09%.

Several equities research analysts have issued reports on the stock. Seaport Global Securities reaffirmed a “buy” rating and set a $32.00 price target on shares of Arconic in a research note on Tuesday, February 6th. Cowen reissued a “hold” rating and issued a $25.00 target price on shares of Arconic in a research report on Thursday, February 1st. Morgan Stanley reissued a “hold” rating and issued a $27.00 target price on shares of Arconic in a research report on Tuesday, October 24th. Deutsche Bank set a $31.00 target price on shares of Arconic and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, Zacks Investment Research cut shares of Arconic from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Arconic has an average rating of “Buy” and a consensus price target of $29.77.

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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.

Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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