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Principale » Farmhouse Investment Management LLC Takes Position in Arconic Inc (NASDAQ:ARNC)

Farmhouse Investment Management LLC Takes Position in Arconic Inc (NASDAQ:ARNC)

11 Juillet 2017

Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Arconic during the first quarter worth $1,263,000. Vanguard Group Inc. now owns 41,877,016 shares of the basic materials company's stock valued at $1,103,040,000 after buying an additional 1,559,763 shares in the last quarter. DAVENPORT & Co LLC's holdings in Arconic were worth $514,000 as of its most recent SEC filing.

Institutional investors have recently made changes to their positions in the stock. Cleararc Capital Inc. raised its position in Arconic by 1.3% in the first quarter. Condor Capital Management now owns 32,441 shares of the basic materials company's stock valued at $855,000 after buying an additional 9,682 shares during the period. Achmea Investment Management B.V. purchased a new position in Arconic during the first quarter worth approximately $2,581,000.

Other hedge funds also recently bought and sold shares of the company. Finally, Quantitative Investment Management LLC increased its stake in shares of Arconic by 21.7% in the first quarter. Finally, Covington Capital Management purchased a new position in shares of Arconic during the first quarter worth $710,000. Advantus Capital Management Inc now owns 44,275 shares of the basic materials company's stock worth $1,166,000 after buying an additional 546 shares during the period. Quantitative Investment Management LLC now owns 441,800 shares of the basic materials company's stock valued at $11,637,000 after buying an additional 78,700 shares during the period.

Arconic (NASDAQ ARNC) traded up 2.29% during mid-day trading on Tuesday, hitting $23.66. The rating was maintained by Cowen & Co with "Hold" on Monday, June 26. Arconic has $25.0 highest and $19 lowest target.

Arconic (NASDAQ:ARNC) last issued its quarterly earnings results on Tuesday, April 25th. After $0.33 actual earnings per share reported by Arconic Inc for the previous quarter, Wall Street now forecasts -15.15 % negative EPS growth. Arconic had a net margin of 10.09% and a return on equity of 23.34%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3 billion. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. Analysts expect next quarter's EPS will be $0.28 with next year's EPS anticipated to be $1.51.

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Several other equities analysts have also issued reports on the company. Morgan Stanley reissued an "equal weight" rating and set a $28.00 target price on shares of Arconic in a research note on Tuesday, June 13th. Cowen and Company restated a "market perform" rating and set a $25.00 price objective on shares of Arconic in a research note on Wednesday, March 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of "Hold" and an average price target of $26.70.

In related news, Director Patrice E. Merrin bought 10,000 shares of Arconic stock in a transaction dated Tuesday, May 30th. Following the purchase, the director now owns 5,000 shares in the company, valued at $135,850. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

In other Arconic news, Director Christopher L. Ayers purchased 7,325 shares of the stock in a transaction on Friday, May 26th. The shares were bought at an average cost of $27.31 per share, with a total value of $200,045.75. Following the acquisition, the director now directly owns 7,425 shares in the company, valued at $202,776.75.