Wells Fargo & Co started coverage on shares of Arconic (NYSE:ARNC) in a research report released on Thursday, January 4th, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $35.00 target price on the basic materials company’s stock.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Arconic from a hold rating to a buy rating and set a $27.00 price objective for the company in a report on Tuesday, September 12th. Seaport Global Securities reaffirmed a buy rating and issued a $29.00 price objective (up previously from $27.00) on shares of Arconic in a report on Tuesday, September 26th. Vetr raised shares of Arconic from a hold rating to a buy rating and set a $27.97 price objective for the company in a report on Tuesday, October 17th. Deutsche Bank set a $31.00 price target on shares of Arconic and gave the company a buy rating in a report on Tuesday, October 24th. Finally, Morgan Stanley reissued a hold rating and set a $27.00 price target on shares of Arconic in a report on Tuesday, October 24th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $29.89.

Arconic (ARNC) opened at $30.26 on Thursday. The company has a market cap of $14,844.04, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 1.01 and a beta of 0.85. The company has a quick ratio of 1.38, a current ratio of 2.30 and a debt-to-equity ratio of 1.15. Arconic has a 1-year low of $21.75 and a 1-year high of $31.17.

The company also recently declared a quarterly dividend, which will be paid on Sunday, February 25th. Stockholders of record on Friday, February 2nd will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Thursday, February 1st. Arconic’s dividend payout ratio (DPR) is -15.09%.

A number of hedge funds have recently bought and sold shares of the stock. First Allied Advisory Services Inc. lifted its holdings in Arconic by 1.7% in the second quarter. First Allied Advisory Services Inc. now owns 18,249 shares of the basic materials company’s stock worth $418,000 after purchasing an additional 307 shares during the period. Riverhead Capital Management LLC lifted its holdings in Arconic by 3.7% in the second quarter. Riverhead Capital Management LLC now owns 18,058 shares of the basic materials company’s stock worth $409,000 after purchasing an additional 641 shares during the period. Pacer Advisors Inc. lifted its holdings in Arconic by 8.4% in the second quarter. Pacer Advisors Inc. now owns 9,707 shares of the basic materials company’s stock worth $220,000 after purchasing an additional 751 shares during the period. Flinton Capital Management LLC lifted its holdings in Arconic by 3.5% in the second quarter. Flinton Capital Management LLC now owns 24,174 shares of the basic materials company’s stock worth $548,000 after purchasing an additional 816 shares during the period. Finally, Financial Counselors Inc. lifted its holdings in Arconic by 5.1% in the second quarter. Financial Counselors Inc. now owns 25,304 shares of the basic materials company’s stock worth $573,000 after purchasing an additional 1,226 shares during the period. 74.67% of the stock is owned by institutional investors and hedge funds.

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Arconic Company Profile

Arconic Inc, formerly Alcoa Inc, is engaged in lightweight metals engineering and manufacturing. The Company operates through three segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. Its multi-material products, which include aluminum, titanium and nickel, are used around the world in markets, such as aerospace, automotive, commercial transportation and packaging.

Analyst Recommendations for Arconic (NYSE:ARNC)

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