Tocqueville Asset Management L.P. Has $15.82 Million Holdings in Arconic Inc (ARNC)

Tocqueville Asset Management L.P. lessened its holdings in shares of Arconic Inc (NYSE:ARNC) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 828,053 shares of the basic materials company’s stock after selling 8,633 shares during the period. Tocqueville Asset Management L.P. owned about 0.18% of Arconic worth $15,824,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. FMR LLC grew its holdings in shares of Arconic by 6,482.8% during the 4th quarter. FMR LLC now owns 4,526,809 shares of the basic materials company’s stock worth $76,322,000 after acquiring an additional 4,458,042 shares during the period. Norges Bank bought a new stake in shares of Arconic in the 4th quarter worth approximately $42,750,000. Oregon Public Employees Retirement Fund boosted its position in shares of Arconic by 1,764.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,173,996 shares of the basic materials company’s stock worth $129,000 after purchasing an additional 2,057,395 shares in the last quarter. Morgan Stanley boosted its position in shares of Arconic by 134.9% in the 3rd quarter. Morgan Stanley now owns 3,406,246 shares of the basic materials company’s stock worth $74,972,000 after purchasing an additional 1,955,880 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of Arconic by 136.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 2,250,000 shares of the basic materials company’s stock worth $37,935,000 after purchasing an additional 1,300,000 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

In other Arconic news, CEO John C. Plant purchased 50,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was acquired at an average price of $22.14 per share, for a total transaction of $1,107,000.00. Following the purchase, the chief executive officer now owns 28,282 shares of the company’s stock, valued at approximately $626,163.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman John C. Plant acquired 105,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were bought at an average cost of $18.51 per share, with a total value of $1,943,550.00. The disclosure for this purchase can be found here. Insiders bought a total of 352,603 shares of company stock valued at $6,798,776 over the last 90 days. 0.14% of the stock is currently owned by company insiders.

A number of analysts have recently commented on the company. Cowen reissued a “hold” rating and issued a $24.00 price target on shares of Arconic in a research report on Wednesday, May 1st. Goldman Sachs Group raised Arconic from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $21.00 to $26.00 in a research report on Thursday, May 2nd. Zacks Investment Research raised Arconic from a “sell” rating to a “hold” rating in a research report on Monday, February 11th. Finally, ValuEngine raised Arconic from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Arconic presently has a consensus rating of “Buy” and a consensus target price of $22.61.

Shares of NYSE ARNC traded up $0.04 during midday trading on Friday, hitting $22.25. 3,170,341 shares of the stock traded hands, compared to its average volume of 5,312,855. The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of 16.36 and a beta of 1.53. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.65 and a quick ratio of 0.94. Arconic Inc has a one year low of $15.63 and a one year high of $23.60.

Arconic (NYSE:ARNC) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Arconic had a return on equity of 13.53% and a net margin of 4.86%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS. Equities research analysts anticipate that Arconic Inc will post 1.79 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, May 25th. Stockholders of record on Friday, May 3rd will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.08 annualized dividend and a dividend yield of 0.36%. Arconic’s dividend payout ratio (DPR) is 5.88%.

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Arconic Profile

Arconic Inc engineers, manufactures, and sells lightweight metals worldwide. The company operate in three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions segment produces and sells fastening systems and seamless rolled rings; investment castings, including airfoils and forged jet engine components; and extruded, machined, and formed aircraft parts for aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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