Arconic (NYSE:ARNC) Hits New 52-Week Low at $19.55

Shares of Arconic Co. (NYSE:ARNCGet Rating) hit a new 52-week low during trading on Wednesday . The company traded as low as $19.55 and last traded at $19.70, with a volume of 2968 shares traded. The stock had previously closed at $19.86.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ARNC shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Arconic from $34.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, September 15th. The Goldman Sachs Group boosted their target price on shares of Arconic from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 8th. StockNews.com cut shares of Arconic from a “buy” rating to a “hold” rating in a research report on Thursday, September 15th. Finally, 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, September 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.40.

Arconic Stock Down 3.3 %

The business’s fifty day moving average price is $26.58 and its 200 day moving average price is $26.66. The company has a quick ratio of 0.78, a current ratio of 1.63 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $1.91 billion, a PE ratio of 14.97 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 Activity

In other news, EVP Melissa M. Miller sold 31,122 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $28.28, for a total value of $880,130.16. Following the completion of the sale, the executive vice president now directly owns 66,926 shares of the company’s stock, valued at $1,892,667.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Diana B. Perreiah sold 4,015 shares of the 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 completion of the transaction, the executive vice president now directly owns 126,204 shares of the company’s stock, valued at $3,457,989.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Melissa M. Miller sold 31,122 shares of the 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 directly owns 66,926 shares of the company’s stock, valued at $1,892,667.28. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC purchased a new position in Arconic during the second quarter worth about $569,000. Captrust Financial Advisors raised its holdings in Arconic by 56.7% during the second quarter. Captrust Financial Advisors now owns 5,743 shares of the basic materials company’s stock worth $161,000 after purchasing an additional 2,077 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Arconic by 160.3% during the second quarter. Goldman Sachs Group Inc. now owns 700,933 shares of the basic materials company’s stock worth $19,660,000 after buying an additional 431,605 shares during the period. United Services Automobile Association acquired a new position in Arconic during the second quarter worth about $319,000. Finally, Thrivent Financial for Lutherans grew its position in Arconic by 19.9% during the second quarter. Thrivent Financial for Lutherans now owns 103,929 shares of the basic materials company’s stock worth $2,915,000 after buying an additional 17,241 shares during the period. 95.87% of the stock is owned by hedge funds and other institutional investors.

About Arconic

(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.

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