Arconic Inc (NYSE:ARNC) Shares Sold by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. trimmed its stake in Arconic Inc (NYSE:ARNC) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,199,837 shares of the basic materials company’s stock after selling 11,546 shares during the period. Arconic comprises approximately 3.0% of Deroy & Devereaux Private Investment Counsel Inc.’s investment portfolio, making the stock its biggest position. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Arconic were worth $31,196,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. First Bank & Trust grew its holdings in Arconic by 8,990.9% during the 3rd quarter. First Bank & Trust now owns 2,000 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 1,978 shares during the period. Rothschild & Co Wealth Management UK Ltd acquired a new stake in Arconic during the 2nd quarter worth about $99,000. TRUE Private Wealth Advisors acquired a new stake in Arconic during the 2nd quarter worth about $104,000. Man Group plc acquired a new stake in Arconic during the 2nd quarter worth about $133,000. Finally, Dupont Capital Management Corp acquired a new stake in Arconic during the 2nd quarter worth about $168,000. Institutional investors and hedge funds own 82.62% of the company’s stock.

In related news, insider Timothy Donald Myers sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $25.33, for a total value of $253,300.00. Following the transaction, the insider now owns 23,759 shares of the company’s stock, valued at approximately $601,815.47. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman John C. Plant purchased 30,463 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average cost of $24.13 per share, for a total transaction of $735,072.19. Following the transaction, the chairman now owns 28,282 shares in the company, valued at approximately $682,444.66. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 7,205,556 shares of company stock valued at $179,707,601. 0.14% of the stock is currently owned by company insiders.

A number of brokerages have weighed in on ARNC. JPMorgan Chase & Co. upgraded Arconic from a “neutral” rating to an “overweight” rating and set a $30.00 price target for the company in a report on Monday, October 7th. ValuEngine downgraded Arconic from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Credit Suisse Group increased their price target on Arconic from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Cowen upgraded Arconic from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $26.00 to $31.00 in a report on Monday, October 14th. Finally, Barclays upgraded Arconic from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $20.00 to $31.00 in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $27.47.

Shares of ARNC traded up $0.02 during trading hours on Thursday, hitting $27.24. The stock had a trading volume of 48,803 shares, compared to its average volume of 2,990,345. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.66 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $26.33 and a 200-day simple moving average of $24.20. The firm has a market capitalization of $11.98 billion, a P/E ratio of 20.00 and a beta of 1.48. Arconic Inc has a 1-year low of $15.63 and a 1-year high of $27.92.

Arconic (NYSE:ARNC) last issued its earnings results on Friday, August 2nd. The basic materials company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.08. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.64 billion. Arconic had a return on equity of 15.38% and a net margin of 3.13%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.37 EPS. Equities analysts predict that Arconic Inc will post 2.06 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.08 annualized dividend and a dividend yield of 0.29%. Arconic’s dividend payout ratio is presently 5.88%.

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.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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