Arconic Co. (NYSE:ARNC) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its position in shares of Arconic Co. (NYSE:ARNC - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,745 shares of the basic materials company's stock after selling 8,000 shares during the period. Yousif Capital Management LLC owned about 0.06% of Arconic worth $1,593,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its position in shares of Arconic by 5.1% during the 1st quarter. BlackRock Inc. now owns 20,311,764 shares of the basic materials company's stock valued at $520,389,000 after acquiring an additional 991,281 shares in the last quarter. Vanguard Group Inc. increased its position in Arconic by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,898,182 shares of the basic materials company's stock worth $202,745,000 after buying an additional 111,451 shares during the period. State Street Corp increased its position in Arconic by 50.5% in the first quarter. State Street Corp now owns 8,239,379 shares of the basic materials company's stock worth $211,093,000 after buying an additional 2,765,816 shares during the period. Morgan Stanley increased its position in Arconic by 6.4% in the fourth quarter. Morgan Stanley now owns 3,826,023 shares of the basic materials company's stock worth $80,959,000 after buying an additional 228,875 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Arconic by 22.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,287,944 shares of the basic materials company's stock worth $69,573,000 after buying an additional 606,506 shares during the period. 91.16% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE ARNC opened at $29.89 on Tuesday. The business's 50-day simple moving average is $29.34 and its 200-day simple moving average is $26.79. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.52 and a quick ratio of 0.70. Arconic Co. has a 52 week low of $16.33 and a 52 week high of $30.68.

Arconic (NYSE:ARNC - Get Free Report) last released its earnings results on Thursday, May 4th. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.06). The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.85 billion. Arconic had a negative net margin of 2.29% and a positive return on equity of 8.21%. The business's quarterly revenue was down 12.0% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS. On average, analysts forecast that Arconic Co. will post 1.5 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on the company. Benchmark cut Arconic from a "buy" rating to a "hold" rating in a research note on Friday, May 5th. Wolfe Research downgraded Arconic from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, April 12th. Finally, StockNews.com started coverage on Arconic in a research note on Thursday, July 27th. They issued a "hold" rating for the company. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $22.67.

Arconic Corporation manufactures and sells fabricated aluminum sheets, plates, extrusions, and architectural products and systems in the United States and internationally. It operates through three segments: Rolled Products, Building and Construction Systems, and Extrusions. The Rolled Products segment provides a range of aluminum sheet and plate products for aerospace, ground transportation, packaging, building and construction, and industrial products; and roofing, architectural composite panels, ventilated facades and ceiling panels, spacers, culvert pipes, and gutters for building and construction markets.

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