Cowen restated their hold rating on shares of Arconic (NYSE:ARNC) in a research note issued to investors on Wednesday, January 3rd. The brokerage currently has a $25.00 price target on the basic materials company’s stock.

Several other research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Arconic from a sell rating to a hold rating in a report on Tuesday, December 26th. Deutsche Bank set a $31.00 target price on shares of Arconic and gave the stock a buy rating in a report on Tuesday, October 24th. Morgan Stanley reiterated a hold rating and issued a $27.00 price target on shares of Arconic in a research note on Tuesday, October 24th. Vetr cut shares of Arconic from a buy rating to a hold rating and set a $27.97 price target on the stock. in a research note on Monday, October 23rd. Finally, Seaport Global Securities reiterated a buy rating and issued a $29.00 price target (up previously from $27.00) on shares of Arconic in a research note on Tuesday, September 26th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $29.89.

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Arconic (NYSE:ARNC) opened at $30.26 on Wednesday. The firm has a market cap of $14,844.04, a price-to-earnings ratio of 30.24, a P/E/G 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 business also recently declared a quarterly dividend, which will be paid on Sunday, February 25th. Shareholders of record on Friday, February 2nd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.79%. The ex-dividend date is Thursday, February 1st. Arconic’s payout ratio is currently -15.09%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Coronation Fund Managers Ltd. raised its position in shares of Arconic by 33.3% during the 4th quarter. Coronation Fund Managers Ltd. now owns 157,206 shares of the basic materials company’s stock valued at $4,284,000 after buying an additional 39,293 shares in the last quarter. Advisor Partners LLC purchased a new stake in shares of Arconic during the 4th quarter valued at about $296,000. Commerzbank Aktiengesellschaft FI raised its position in shares of Arconic by 7.9% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 261,841 shares of the basic materials company’s stock valued at $7,135,000 after buying an additional 19,107 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Arconic by 60.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 30,350 shares of the basic materials company’s stock valued at $829,000 after buying an additional 11,406 shares in the last quarter. Finally, Cubic Asset Management LLC raised its position in shares of Arconic by 5.8% during the 4th quarter. Cubic Asset Management LLC now owns 223,995 shares of the basic materials company’s stock valued at $6,104,000 after buying an additional 12,230 shares in the last quarter. Hedge funds and other institutional investors own 74.67% of the company’s stock.

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About Arconic

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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