Syntal Capital Partners LLC Takes Position in Arconic Inc (NYSE:ARNC)

Syntal Capital Partners LLC purchased a new stake in shares of Arconic Inc (NYSE:ARNC) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 29,617 shares of the basic materials company’s stock, valued at approximately $911,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rational Advisors LLC boosted its holdings in shares of Arconic by 147.3% during the 3rd quarter. Rational Advisors LLC now owns 1,291 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 769 shares during the last quarter. CWM LLC lifted its stake in shares of Arconic by 28.8% in the 4th quarter. CWM LLC now owns 1,456 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 326 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Arconic in the 3rd quarter worth approximately $38,000. Pendal Group Ltd bought a new position in shares of Arconic in the 4th quarter worth approximately $56,000. Finally, Advisory Services Network LLC lifted its stake in shares of Arconic by 813.4% in the 4th quarter. Advisory Services Network LLC now owns 3,142 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 2,798 shares during the period. 83.35% of the stock is currently owned by hedge funds and other institutional investors.

NYSE ARNC traded up $0.25 on Wednesday, reaching $31.96. 5,255,927 shares of the stock were exchanged, compared to its average volume of 3,305,242. Arconic Inc has a one year low of $18.03 and a one year high of $34.27. The firm has a market capitalization of $14.32 billion, a PE ratio of 31.03 and a beta of 1.52. The company’s 50-day simple moving average is $30.96 and its two-hundred day simple moving average is $28.83. The company has a current ratio of 1.42, a quick ratio of 0.83 and a debt-to-equity ratio of 1.07.

Arconic (NYSE:ARNC) last released its earnings results on Monday, January 27th. The basic materials company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Arconic had a return on equity of 20.28% and a net margin of 3.31%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter in the previous year, the business posted $0.33 EPS. Arconic’s revenue was down 2.0% on a year-over-year basis. Sell-side analysts forecast that Arconic Inc will post 2.35 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Thursday, February 6th. Arconic’s dividend payout ratio (DPR) is currently 3.79%.

Several brokerages have recently weighed in on ARNC. Longbow Research cut shares of Arconic from a “neutral” rating to an “underperform” rating and set a $24.00 price objective on the stock. in a research note on Wednesday, January 22nd. Credit Suisse Group increased their price objective on shares of Arconic in a research note on Tuesday, January 28th. JPMorgan Chase & Co. increased their price objective on shares of Arconic from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Benchmark began coverage on shares of Arconic in a research note on Thursday, January 16th. They issued a “hold” rating on the stock. Finally, Barclays reiterated an “overweight” rating and issued a $35.00 price objective (up previously from $31.00) on shares of Arconic in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Arconic presently has a consensus rating of “Buy” and an average price target of $30.30.

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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