Dimensional Fund Advisors LP Raises Stock Holdings in Arconic Co. (NYSE:ARNC)

Dimensional Fund Advisors LP raised its position in Arconic Co. (NYSE:ARNC – Get Rating) by 22.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,287,944 shares of the basic materials company’s stock after buying an additional 606,506 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.24% of Arconic worth $69,573,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARNC. State Street Corp lifted its stake in Arconic by 50.5% in the first quarter. State Street Corp now owns 8,239,379 shares of the basic materials company’s stock valued at $211,093,000 after buying an additional 2,765,816 shares during the last quarter. BlackRock Inc. lifted its stake in Arconic by 5.1% in the first quarter. BlackRock Inc. now owns 20,311,764 shares of the basic materials company’s stock valued at $520,389,000 after buying an additional 991,281 shares during the last quarter. Vanguard Group Inc. lifted its stake in Arconic by 7.3% in the first quarter. Vanguard Group Inc. now owns 11,653,381 shares of the basic materials company’s stock valued at $298,559,000 after buying an additional 791,501 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Arconic by 160.3% in the second quarter. Goldman Sachs Group Inc. now owns 700,933 shares of the basic materials company’s stock valued at $19,660,000 after buying an additional 431,605 shares during the last quarter. Finally, Bornite Capital Management LP purchased a new stake in Arconic in the first quarter valued at approximately $7,686,000. Hedge funds and other institutional investors own 93.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ARNC. Wolfe Research lowered Arconic from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 12th. Deutsche Bank Aktiengesellschaft dropped their target price on Arconic from $23.00 to $21.00 in a report on Wednesday, February 22nd. Benchmark lowered Arconic from a “buy” rating to a “hold” rating in a report on Friday, May 5th. The Goldman Sachs Group lowered Arconic from a “neutral” rating to a “sell” rating and dropped their target price for the company from $23.00 to $21.00 in a report on Tuesday, February 28th. Finally, StockNews.com started coverage on Arconic in a report on Wednesday. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.67.

Arconic Stock Performance

Shares of ARNC stock opened at $28.90 on Friday. The business’s fifty day moving average price is $26.61 and its 200 day moving average price is $24.23. Arconic Co. has a 1-year low of $16.33 and a 1-year high of $31.24. The firm has a market capitalization of $2.90 billion, a PE ratio of -14.17 and a beta of 1.91. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.52 and a quick ratio of 0.70.

Arconic (NYSE:ARNC – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The basic materials company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). Arconic had a positive return on equity of 8.21% and a negative net margin of 2.29%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the company earned $0.39 EPS. The company’s revenue was down 12.0% on a year-over-year basis. As a group, sell-side analysts forecast that Arconic Co. will post 1.5 EPS for the current fiscal year.

Arconic Company Profile

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Arconic Corporation manufactures and sells aluminum sheets, plates, extrusions, and architectural products in the United States, Canada, China, France, Germany, Hungary, Russia, the United Kingdom, and internationally. It operates through three segments: Rolled Products, Building and Construction Systems, and Extrusions.