Arconic Inc (ARNC) Stake Increased by Tricadia Capital Management LLC
Tricadia Capital Management LLC grew its stake in Arconic Inc (NYSE:ARNC) by 61.8% in the fourth quarter, Holdings Channel reports. The fund owned 271,901 shares of the basic materials company’s stock after acquiring an additional 103,901 shares during the period. Arconic makes up 3.6% of Tricadia Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Tricadia Capital Management LLC’s holdings in Arconic were worth $7,409,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Huntington National Bank bought a new stake in Arconic during the 3rd quarter worth approximately $132,000. Fox Run Management L.L.C. bought a new position in shares of Arconic during the 4th quarter worth approximately $205,000. National Planning Corp bought a new position in shares of Arconic during the 3rd quarter worth approximately $206,000. Pitcairn Co. bought a new position in shares of Arconic during the 3rd quarter worth approximately $209,000. Finally, UMB Bank N A MO bought a new position in shares of Arconic during the 4th quarter worth approximately $212,000. 74.55% of the stock is owned by institutional investors.
ARNC has been the subject of several research reports. Zacks Investment Research raised shares of Arconic from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Wells Fargo & Co assumed coverage on Arconic in a report on Thursday, January 4th. They issued an “outperform” rating and a $35.00 price objective for the company. Cowen reissued a “hold” rating and issued a $25.00 price objective on shares of Arconic in a report on Wednesday, January 3rd. Vetr downgraded Arconic from a “buy” rating to a “hold” rating and set a $27.97 price target for the company. in a report on Monday, October 23rd. Finally, Deutsche Bank set a $31.00 price target on Arconic and gave the company a “buy” rating in a report on Tuesday, October 24th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $29.77.
Arconic Inc (NYSE ARNC) opened at $24.96 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.26 and a quick ratio of 1.38. Arconic Inc has a 12-month low of $21.75 and a 12-month high of $31.17. The company has a market capitalization of $12,010.00, a price-to-earnings ratio of -96.00, a P/E/G ratio of 0.82 and a beta of 0.93.
Arconic (NYSE:ARNC) last issued its quarterly earnings results on Monday, February 5th. The basic materials company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.07. Arconic had a positive return on equity of 11.29% and a negative net margin of 0.57%. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the business earned $0.12 earnings per share. Arconic’s revenue was up 10.2% on a year-over-year basis. analysts expect that Arconic Inc will post 1.5 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, February 25th. Investors of record on Friday, February 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, February 1st. Arconic’s dividend payout ratio is currently -92.31%.
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Arconic Company Profile
Arconic Inc, formerly Alcoa Inc, is engaged in lightweight metals engineering and manufacturing. The Company operates through three segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. Its multi-material products, which include aluminum, titanium and nickel, are used around the world in markets, such as aerospace, automotive, commercial transportation and packaging.
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