Quantinno Capital Management LP lifted its holdings in Arconic Co. (NYSE:ARNC – Free Report) by 5.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,214 shares of the basic materials company’s stock after buying an additional 770 shares during the quarter. Quantinno Capital Management LP’s holdings in Arconic were worth $399,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in ARNC. Byrne Asset Management LLC acquired a new stake in shares of Arconic in the first quarter worth approximately $33,000. Clear Street Markets LLC purchased a new stake in Arconic during the 4th quarter worth $59,000. State of Wyoming boosted its position in Arconic by 62.3% in the 4th quarter. State of Wyoming now owns 2,944 shares of the basic materials company’s stock valued at $62,000 after buying an additional 1,130 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Arconic during the first quarter worth about $87,000. Finally, Captrust Financial Advisors lifted its stake in shares of Arconic by 21.9% in the first quarter. Captrust Financial Advisors now owns 3,666 shares of the basic materials company’s stock worth $94,000 after acquiring an additional 659 shares in the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.
Arconic Stock Performance
ARNC opened at $29.89 on Wednesday. Arconic Co. has a 52-week low of $16.33 and a 52-week high of $30.21. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.70 and a current ratio of 1.52. The stock has a 50-day moving average of $29.36 and a 200-day moving average of $26.84. The company has a market cap of $3.00 billion, a PE ratio of -14.65 and a beta of 1.83.
Wall Street Analysts Forecast Growth
ARNC has been the topic of a number of recent analyst reports. Benchmark cut Arconic from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. Wolfe Research downgraded Arconic from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 12th. Finally, StockNews.com initiated coverage on shares of Arconic in a research report on Thursday, July 27th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.67.
Arconic Company Profile
Arconic Corporation manufactures and sells fabricated aluminum sheets, plates, extrusions, and architectural products and systems in the United States and internationally. It operates through three segments: Rolled Products, Building and Construction Systems, and Extrusions. The Rolled Products segment provides a range of aluminum sheet and plate products for aerospace, ground transportation, packaging, building and construction, and industrial products; and roofing, architectural composite panels, ventilated facades and ceiling panels, spacers, culvert pipes, and gutters for building and construction markets.
See Also
- Five stocks we like better than Arconic
- How to Invest in the Healthcare Sector
- JetBlue Airlines May Have Entered A Buy Zone, Check This First
- Comparing and Trading High PE Ratio Stocks
- Investors Are Staying Bullish On Marriot International
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- Do Caterpillar’s Results Hint at a Looming Infrastructure Bubble?
Want to see what other hedge funds are holding ARNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arconic Co. (NYSE:ARNC – Free Report).
Receive News & Ratings for Arconic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arconic and related companies with MarketBeat.com's FREE daily email newsletter.
