Shell Asset Management Co. cut its stake in Arconic Co. (NYSE:ARNC – Get Rating) by 20.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,949 shares of the basic materials company’s stock after selling 2,067 shares during the quarter. Shell Asset Management Co.’s holdings in Arconic were worth $135,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. M&T Bank Corp acquired a new position in shares of Arconic in the 2nd quarter valued at approximately $49,000. Wipfli Financial Advisors LLC acquired a new position in shares of Arconic in the 3rd quarter valued at approximately $56,000. Captrust Financial Advisors boosted its position in Arconic by 21.9% during the 1st quarter. Captrust Financial Advisors now owns 3,666 shares of the basic materials company’s stock worth $94,000 after acquiring an additional 659 shares during the last quarter. Signaturefd LLC boosted its position in Arconic by 6.2% during the 3rd quarter. Signaturefd LLC now owns 9,727 shares of the basic materials company’s stock worth $166,000 after acquiring an additional 564 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Arconic by 9.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,895 shares of the basic materials company’s stock worth $193,000 after acquiring an additional 600 shares during the last quarter. 93.90% of the stock is owned by institutional investors.
Arconic Trading Up 2.2 %
NYSE ARNC opened at $27.03 on Thursday. The company has a market cap of $2.69 billion, a PE ratio of -14.30 and a beta of 2.00. The company has a current ratio of 1.52, a quick ratio of 0.70 and a debt-to-equity ratio of 1.18. Arconic Co. has a 12 month low of $16.33 and a 12 month high of $31.24. The stock has a 50 day moving average of $22.95 and a 200-day moving average of $22.33.
Wall Street Analysts Forecast Growth
ARNC has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on Arconic from $23.00 to $21.00 in a research report on Wednesday, February 22nd. The Goldman Sachs Group downgraded Arconic from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $23.00 to $21.00 in a research report on Tuesday. Finally, Benchmark reduced their price target on Arconic from $30.00 to $26.00 in a research report on Thursday, December 15th.
Arconic Company Profile
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.
- Get a free copy of the StockNews.com research report on Arconic (ARNC)
- Jack in the Box Pops On Tasty Results, Robust Outlook
- How Low Can Lowe’s Companies Go?
- Ambarella: An AI Play In The Making
- Wendy’s Price Firms After Sizzling Quarter And Juicy Outlook
- Terran Orbital’s New $2.4 Billion Contract is a Game Changer
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:ARNC – Get Rating).
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.