Arconic Co. (NYSE:ARNC) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its position in Arconic Co. (NYSE:ARNCGet Rating) by 60.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,291 shares of the basic materials company’s stock after selling 31,988 shares during the quarter. SG Americas Securities LLC’s holdings in Arconic were worth $545,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ARNC. National Bank of Canada FI purchased a new stake in shares of Arconic during the fourth quarter valued at $26,000. Quent Capital LLC purchased a new stake in shares of Arconic during the fourth quarter valued at $41,000. Allegheny Financial Group LTD purchased a new stake in shares of Arconic during the fourth quarter valued at $63,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Arconic during the fourth quarter valued at $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Arconic during the fourth quarter valued at $228,000. Institutional investors and hedge funds own 90.38% of the company’s stock.

Arconic Stock Down 5.4 %

Shares of Arconic stock opened at $27.65 on Friday. The stock has a 50-day moving average price of $28.32 and a 200 day moving average price of $27.98. The company has a market cap of $2.92 billion, a P/E ratio of 22.30 and a beta of 1.60. The company has a current ratio of 1.63, a quick ratio of 0.66 and a debt-to-equity ratio of 0.88. Arconic Co. has a 1 year low of $22.45 and a 1 year high of $36.77.

Arconic (NYSE:ARNCGet Rating) last issued its earnings results on Tuesday, August 2nd. The basic materials company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.33. Arconic had a return on equity of 9.28% and a net margin of 1.53%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period in the prior year, the firm posted ($0.05) EPS. The business’s revenue was up 41.5% compared to the same quarter last year. As a group, analysts expect that Arconic Co. will post 2.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. The Goldman Sachs Group upped their target price on Arconic from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, June 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on Arconic from $40.00 to $34.00 in a research note on Thursday, May 5th. Finally, StockNews.com raised Arconic from a “hold” rating to a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

About Arconic

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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.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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