Arconic Inc (NYSE:ARNC) – Seaport Global Securities increased their FY2019 EPS estimates for Arconic in a research note issued on Monday, November 11th, according to Zacks Investment Research. Seaport Global Securities analyst J. Sullivan now forecasts that the basic materials company will post earnings per share of $2.14 for the year, up from their prior estimate of $2.06. Seaport Global Securities also issued estimates for Arconic’s Q4 2019 earnings at $0.55 EPS, Q1 2020 earnings at $0.56 EPS, Q2 2020 earnings at $0.66 EPS, Q3 2020 earnings at $0.68 EPS and FY2020 earnings at $2.49 EPS.
ARNC has been the subject of a number of other research reports. TheStreet upgraded Arconic from a “c” rating to a “b” rating in a report on Tuesday, November 5th. Berenberg Bank began coverage on Arconic in a report on Tuesday, October 8th. They issued a “buy” rating for the company. JPMorgan Chase & Co. increased their target price on Arconic from $30.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays restated an “overweight” rating and issued a $35.00 target price (up previously from $31.00) on shares of Arconic in a report on Monday, November 11th. Finally, ValuEngine lowered Arconic from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $28.58.
Shares of ARNC traded down $0.38 during trading hours on Tuesday, hitting $30.32. 2,593,700 shares of the company were exchanged, compared to its average volume of 4,079,079. The firm has a fifty day simple moving average of $29.21 and a 200-day simple moving average of $25.96. The company has a market capitalization of $13.40 billion, a PE ratio of 22.29 and a beta of 1.52. Arconic has a one year low of $15.63 and a one year high of $31.40. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.32 and a quick ratio of 0.75.
Arconic (NYSE:ARNC) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.59 billion. Arconic had a return on equity of 17.87% and a net margin of 2.66%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.32 EPS.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BLB&B Advisors LLC grew its position in shares of Arconic by 3.2% in the third quarter. BLB&B Advisors LLC now owns 14,020 shares of the basic materials company’s stock valued at $365,000 after purchasing an additional 439 shares during the last quarter. Dupont Capital Management Corp boosted its holdings in Arconic by 7.6% during the third quarter. Dupont Capital Management Corp now owns 7,000 shares of the basic materials company’s stock valued at $182,000 after purchasing an additional 496 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Arconic by 2.0% during the second quarter. Nisa Investment Advisors LLC now owns 25,355 shares of the basic materials company’s stock valued at $655,000 after purchasing an additional 500 shares in the last quarter. Rational Advisors LLC boosted its holdings in Arconic by 147.3% during the third quarter. Rational Advisors LLC now owns 1,291 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 769 shares in the last quarter. Finally, Strs Ohio boosted its holdings in Arconic by 1.5% during the third quarter. Strs Ohio now owns 58,436 shares of the basic materials company’s stock valued at $1,519,000 after purchasing an additional 861 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.
In other news, Director James F. Albaugh acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average cost of $29.50 per share, for a total transaction of $147,500.00. Following the completion of the acquisition, the director now owns 29,486 shares in the company, valued at $869,837. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy Donald Myers sold 29,849 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $30.82, for a total value of $919,946.18. Following the sale, the executive vice president now owns 28,925 shares of the company’s stock, valued at $891,468.50. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.08 annualized dividend and a dividend yield of 0.26%. Arconic’s dividend payout ratio is 5.88%.
Arconic Company 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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