Meyer Handelman Co. lowered its position in shares of Arconic Inc (NYSE:ARNC) by 7.7% in the 4th quarter, Holdings Channel reports. The fund owned 38,522 shares of the basic materials company’s stock after selling 3,205 shares during the period. Meyer Handelman Co.’s holdings in Arconic were worth $649,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. We Are One Seven LLC acquired a new stake in Arconic in the fourth quarter worth about $109,000. Cerebellum GP LLC acquired a new stake in Arconic in the fourth quarter worth about $135,000. UMB Bank N A MO acquired a new stake in Arconic in the third quarter worth about $208,000. Prescott Group Capital Management L.L.C. acquired a new stake in Arconic in the third quarter worth about $220,000. Finally, CIBC World Markets Inc. acquired a new stake in Arconic in the third quarter worth about $224,000. Institutional investors and hedge funds own 83.82% of the company’s stock.

NYSE ARNC traded up $0.52 on Monday, reaching $17.62. The company’s stock had a trading volume of 24,836 shares, compared to its average volume of 8,135,224. Arconic Inc has a twelve month low of $15.63 and a twelve month high of $25.87. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 12.84 and a beta of 1.48.

Arconic (NYSE:ARNC) last issued its quarterly earnings results on Friday, February 8th. The basic materials company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.03. Arconic had a net margin of 4.58% and a return on equity of 12.91%. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the company earned $0.31 EPS. Arconic’s revenue was up 6.1% on a year-over-year basis. As a group, research analysts predict that Arconic Inc will post 1.59 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 25th. Shareholders of record on Friday, February 8th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, February 7th. Arconic’s payout ratio is 17.65%.

Several equities research analysts recently weighed in on ARNC shares. Longbow Research raised shares of Arconic from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $23.25 to $18.26 in a report on Thursday, December 20th. Jefferies Financial Group set a $25.00 price objective on shares of Arconic and gave the stock a “buy” rating in a report on Wednesday, October 31st. TheStreet raised shares of Arconic from a “d+” rating to a “c-” rating in a report on Monday, October 15th. Zacks Investment Research downgraded shares of Arconic from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Cowen reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Arconic in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $23.48.

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Arconic Profile

Arconic Inc engineers, manufactures, and sells lightweight metals worldwide. The company operate in three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions produces and sells fastening systems and seamless rolled rings; investment castings, including airfoils and forged jet engine components; and extruded, machined, and formed aircraft parts for aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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