Sentry Investment Management LLC Lowers Position in Arconic Inc (ARNC)

Sentry Investment Management LLC decreased its position in Arconic Inc (NYSE:ARNC) by 8.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,113 shares of the basic materials company’s stock after selling 2,140 shares during the period. Sentry Investment Management LLC’s holdings in Arconic were worth $461,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ARNC. CIBC Asset Management Inc raised its stake in Arconic by 1.0% in the first quarter. CIBC Asset Management Inc now owns 47,428 shares of the basic materials company’s stock worth $906,000 after buying an additional 475 shares in the last quarter. Candriam Luxembourg S.C.A. raised its stake in Arconic by 1.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 34,199 shares of the basic materials company’s stock worth $654,000 after buying an additional 487 shares in the last quarter. Securian Asset Management Inc raised its stake in Arconic by 1.5% in the first quarter. Securian Asset Management Inc now owns 44,107 shares of the basic materials company’s stock worth $843,000 after buying an additional 666 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Arconic by 0.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 129,723 shares of the basic materials company’s stock worth $2,479,000 after buying an additional 779 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC raised its stake in Arconic by 1.2% in the first quarter. Prime Capital Investment Advisors LLC now owns 72,832 shares of the basic materials company’s stock worth $1,392,000 after buying an additional 875 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Shares of ARNC stock opened at $22.25 on Friday. The firm has a market cap of $9.98 billion, a PE ratio of 16.36 and a beta of 1.53. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.94 and a current ratio of 1.65. Arconic Inc has a 12-month low of $15.63 and a 12-month high of $23.60.



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

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

In other news, Director Rajiv Gupta bought 22,603 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $22.10 per share, with a total value of $499,526.30. Following the transaction, the director now directly owns 38,420 shares in the company, valued at $849,082. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. Plant bought 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was purchased at an average cost of $18.65 per share, for a total transaction of $652,750.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 352,603 shares of company stock worth $6,798,776. Insiders own 0.14% of the company’s stock.

A number of brokerages recently commented on ARNC. Cowen reissued a “hold” rating and issued a $24.00 price objective on shares of Arconic in a research note on Wednesday, May 1st. Goldman Sachs Group raised shares of Arconic from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $21.00 to $26.00 in a research note on Thursday, May 2nd. ValuEngine raised Arconic from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Zacks Investment Research raised Arconic from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Monday, March 18th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Arconic has a consensus rating of “Buy” and an average price target of $22.61.

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Arconic Company 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.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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