Arconic Co. (NYSE:ARNC) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its holdings in Arconic Co. (NYSE:ARNCGet Rating) by 4.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 599,743 shares of the basic materials company’s stock after selling 25,126 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Arconic were worth $15,365,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Virtu Financial LLC acquired a new position in shares of Arconic during the first quarter worth $317,000. Guggenheim Capital LLC grew its stake in shares of Arconic by 59.8% during the first quarter. Guggenheim Capital LLC now owns 25,867 shares of the basic materials company’s stock worth $662,000 after purchasing an additional 9,684 shares in the last quarter. Harris Associates L P grew its stake in shares of Arconic by 0.4% during the first quarter. Harris Associates L P now owns 5,064,909 shares of the basic materials company’s stock worth $129,763,000 after purchasing an additional 22,026 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Arconic by 21.9% during the first quarter. Captrust Financial Advisors now owns 3,666 shares of the basic materials company’s stock worth $94,000 after purchasing an additional 659 shares in the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new position in shares of Arconic during the first quarter worth $6,662,000. Institutional investors and hedge funds own 95.87% of the company’s stock.

Arconic Price Performance

Shares of NYSE:ARNC opened at $20.22 on Monday. The company has a 50-day simple moving average of $27.25 and a 200-day simple moving average of $26.85. Arconic Co. has a one year low of $19.80 and a one year high of $35.74. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 1.63. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 16.31 and a beta of 1.71.

Arconic (NYSE:ARNCGet Rating) last announced its earnings results on Tuesday, August 2nd. The basic materials company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.10). Arconic had a net margin of 1.53% and a return on equity of 9.28%. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the previous year, the company posted ($0.05) earnings per share. Arconic’s quarterly revenue was up 41.5% on a year-over-year basis.

Insider Transactions at Arconic

In other news, EVP Melissa M. Miller sold 31,122 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $28.28, for a total transaction of $880,130.16. Following the transaction, the executive vice president now directly owns 66,926 shares in the company, valued at $1,892,667.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Diana B. Perreiah sold 4,015 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $27.40, for a total transaction of $110,011.00. Following the transaction, the executive vice president now directly owns 126,204 shares in the company, valued at $3,457,989.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Melissa M. Miller sold 31,122 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $28.28, for a total transaction of $880,130.16. Following the transaction, the executive vice president now owns 66,926 shares in the company, valued at $1,892,667.28. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

ARNC has been the subject of a number of analyst reports. StockNews.com downgraded shares of Arconic from a “buy” rating to a “hold” rating in a research note on Thursday. Benchmark reduced their price target on shares of Arconic from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Arconic from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group boosted their price target on shares of Arconic from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, June 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.40.

Arconic Company Profile

(Get Rating)

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.

Featured Stories

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:ARNCGet Rating).

Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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.