Robeco Institutional Asset Management B.V. Has $7.12 Million Stake in Arconic Inc (ARNC)

Robeco Institutional Asset Management B.V. Has $7.12 Million Stake in Arconic Inc (ARNC)

Robeco Institutional Asset Management B.V. raised its stake in Arconic Inc (NYSE:ARNC) by 611.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 372,487 shares of the basic materials company’s stock after purchasing an additional 320,116 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Arconic were worth $7,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Securian Asset Management Inc grew its holdings in Arconic by 1.5% during the first quarter. Securian Asset Management Inc now owns 44,107 shares of the basic materials company’s stock valued at $843,000 after purchasing an additional 666 shares during the period. Prime Capital Investment Advisors LLC grew its holdings in Arconic by 1.2% during the first quarter. Prime Capital Investment Advisors LLC now owns 72,832 shares of the basic materials company’s stock valued at $1,392,000 after purchasing an additional 875 shares during the period. Lodestar Investment Counsel LLC IL grew its holdings in Arconic by 7.2% during the first quarter. Lodestar Investment Counsel LLC IL now owns 14,834 shares of the basic materials company’s stock valued at $283,000 after purchasing an additional 1,000 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in Arconic by 3.2% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 37,679 shares of the basic materials company’s stock valued at $635,000 after purchasing an additional 1,186 shares during the period. Finally, LS Investment Advisors LLC grew its holdings in Arconic by 5.7% during the first quarter. LS Investment Advisors LLC now owns 21,880 shares of the basic materials company’s stock valued at $418,000 after purchasing an additional 1,188 shares during the period. 89.14% of the stock is owned by hedge funds and other institutional investors.

In other news, Chairman John C. Plant purchased 105,000 shares of the stock in a transaction on Thursday, March 7th. The shares were acquired at an average price of $18.51 per share, for a total transaction of $1,943,550.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rajiv Gupta purchased 22,603 shares of the stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $22.10 per share, for a total transaction of $499,526.30. Following the transaction, the director now directly owns 38,420 shares of the company’s stock, valued at $849,082. The disclosure for this purchase can be found here. Insiders have acquired 352,603 shares of company stock worth $6,798,776 in the last 90 days. Company insiders own 0.14% of the company’s stock.

Shares of ARNC stock opened at $22.01 on Thursday. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 1.15. Arconic Inc has a 52-week low of $15.63 and a 52-week high of $23.60. The firm has a market capitalization of $9.65 billion, a P/E ratio of 16.18 and a beta of 1.53.

Arconic (NYSE:ARNC) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.03. Arconic had a return on equity of 13.53% and a net margin of 4.86%. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter last year, the business posted $0.34 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, analysts predict that Arconic Inc will post 1.79 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, May 25th. Shareholders of record on Friday, May 3rd will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.08 dividend on an annualized basis and a yield of 0.36%. Arconic’s payout ratio is 5.88%.

Several brokerages have weighed in on ARNC. Zacks Investment Research raised Arconic from a “sell” rating to a “hold” rating in a report on Monday, February 11th. Cowen reissued a “hold” rating and set a $24.00 price objective on shares of Arconic in a report on Wednesday, May 1st. ValuEngine raised Arconic from a “strong sell” rating to a “sell” rating in a report on Monday, April 1st. Finally, Goldman Sachs Group raised Arconic from a “neutral” rating to a “buy” rating and increased their price objective for the company from $21.00 to $26.00 in a report on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $22.61.

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 segment 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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