Reinhart Partners Inc. Has $20.66 Million Holdings in Arconic Inc (NYSE:ARNC)

Reinhart Partners Inc. lessened its holdings in shares of Arconic Inc (NYSE:ARNC) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 671,442 shares of the basic materials company’s stock after selling 9,199 shares during the quarter. Arconic makes up 1.5% of Reinhart Partners Inc.’s portfolio, making the stock its 26th biggest position. Reinhart Partners Inc.’s holdings in Arconic were worth $20,660,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ARNC. Amundi Pioneer Asset Management Inc. raised its stake in Arconic by 4.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 396,762 shares of the basic materials company’s stock worth $7,583,000 after buying an additional 15,182 shares during the period. Man Group plc acquired a new stake in shares of Arconic in the 2nd quarter valued at about $133,000. Morgan Stanley raised its stake in shares of Arconic by 8.5% in the 2nd quarter. Morgan Stanley now owns 1,021,200 shares of the basic materials company’s stock valued at $26,368,000 after purchasing an additional 80,294 shares during the period. Marshall Wace LLP acquired a new stake in shares of Arconic in the 2nd quarter valued at about $462,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Arconic by 3.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,512,378 shares of the basic materials company’s stock valued at $39,050,000 after purchasing an additional 48,880 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE ARNC traded up $1.36 during mid-day trading on Monday, hitting $30.47. The company had a trading volume of 266,330 shares, compared to its average volume of 3,341,350. The company has a market capitalization of $12.60 billion, a PE ratio of 39.59 and a beta of 1.49. The firm has a 50-day simple moving average of $30.61 and a two-hundred day simple moving average of $27.77. The company has a current ratio of 1.32, a quick ratio of 0.75 and a debt-to-equity ratio of 1.05. Arconic Inc has a one year low of $16.66 and a one year high of $31.99.

Arconic (NYSE:ARNC) last announced its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Arconic had a return on equity of 17.87% and a net margin of 2.66%. Arconic’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. Sell-side analysts expect that Arconic Inc will post 2.13 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Thursday, February 6th. Arconic’s payout ratio is 5.88%.

Several analysts have issued reports on ARNC shares. JPMorgan Chase & Co. lifted their price target on Arconic from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. ValuEngine downgraded Arconic from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Berenberg Bank started coverage on Arconic in a research note on Tuesday, October 8th. They issued a “buy” rating on the stock. Credit Suisse Group lifted their price target on Arconic from $28.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Finally, Longbow Research downgraded Arconic from a “neutral” rating to an “underperform” rating and set a $24.00 price target on the stock. in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Arconic currently has an average rating of “Buy” and a consensus target price of $29.22.

In other Arconic news, VP W Paul Myron sold 10,188 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $30.67, for a total transaction of $312,465.96. Following the completion of the sale, the vice president now directly owns 80,931 shares in the company, valued at $2,482,153.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James F. Albaugh acquired 5,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were bought at an average price of $29.50 per share, with a total value of $147,500.00. Following the completion of the transaction, the director now directly owns 29,486 shares of the company’s stock, valued at $869,837. The disclosure for this purchase can be found here. 0.14% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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