John C. Plant Buys 50,000 Shares of Arconic Inc (ARNC) Stock

Arconic Inc (NYSE:ARNC) CEO John C. Plant purchased 50,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were acquired at an average cost of $22.14 per share, with a total value of $1,107,000.00. Following the transaction, the chief executive officer now directly owns 28,282 shares in the company, valued at $626,163.48. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

John C. Plant also recently made the following trade(s):

  • On Thursday, March 7th, John C. Plant bought 35,000 shares of Arconic stock. The shares were purchased at an average price of $18.16 per share, for a total transaction of $635,600.00.
  • On Tuesday, March 5th, John C. Plant bought 35,000 shares of Arconic stock. The shares were purchased at an average price of $18.65 per share, for a total transaction of $652,750.00.
  • On Thursday, March 7th, John C. Plant bought 105,000 shares of Arconic stock. The shares were purchased at an average price of $18.51 per share, for a total transaction of $1,943,550.00.

ARNC traded down $0.03 during trading on Thursday, hitting $22.00. 1,902,364 shares of the company’s stock traded hands, compared to its average volume of 3,612,971. The company has a market cap of $9.93 billion, a price-to-earnings ratio of 16.18 and a beta of 1.53. 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 12-month low of $15.63 and a 12-month high of $23.60.

Arconic (NYSE:ARNC) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.43 earnings per share for the quarter, beating the 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 firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the prior year, the firm earned $0.34 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. As a group, research analysts forecast that Arconic Inc will post 1.79 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Saturday, May 25th. Investors of record on Friday, May 3rd were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $0.08 dividend on an annualized basis and a yield of 0.36%. Arconic’s dividend payout ratio is currently 5.88%.

Institutional investors have recently made changes to their positions in the stock. C M Bidwell & Associates Ltd. purchased a new stake in Arconic in the 1st quarter worth $31,000. CWM LLC increased its stake in Arconic by 1,397.5% in the 1st quarter. CWM LLC now owns 1,827 shares of the basic materials company’s stock worth $35,000 after buying an additional 1,705 shares in the last quarter. Liberty Wealth Management LLC increased its stake in Arconic by 3,808.2% in the 1st quarter. Liberty Wealth Management LLC now owns 1,915 shares of the basic materials company’s stock worth $36,000 after buying an additional 1,866 shares in the last quarter. CSat Investment Advisory L.P. increased its stake in Arconic by 31.6% in the 1st quarter. CSat Investment Advisory L.P. now owns 1,949 shares of the basic materials company’s stock worth $37,000 after buying an additional 468 shares in the last quarter. Finally, Osborn Williams & Donohoe LLC purchased a new stake in Arconic in the 1st quarter worth $39,000. 83.84% of the stock is currently owned by institutional investors.

Several analysts recently weighed in on the company. Cowen restated a “hold” rating and issued a $24.00 price target on shares of Arconic in a research note on Wednesday, May 1st. Goldman Sachs Group upgraded Arconic from a “neutral” rating to a “buy” rating and upped their price target for the stock from $21.00 to $26.00 in a research note on Thursday, May 2nd. ValuEngine upgraded Arconic from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Zacks Investment Research upgraded Arconic from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Monday, March 18th. Five analysts have rated the stock with a hold rating and five have assigned 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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About Arconic

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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