Arconic Co. (NYSE:ARNC – Get Rating) saw unusually-high trading volume on Friday . Approximately 68,110 shares traded hands during mid-day trading, a decline of 89% from the previous session's volume of 625,241 shares.The stock last traded at $20.12 and had previously closed at $21.24.

Analysts Set New Price Targets

Several brokerages recently issued reports on ARNC. Benchmark reduced their target price on shares of Arconic from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday. StockNews.com downgraded shares of Arconic from a "buy" rating to a "hold" rating in a research note on Thursday. The Goldman Sachs Group upped their target price on shares of Arconic from $32.00 to $36.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Arconic from $34.00 to $29.00 and set a "buy" rating for the company in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.40.

Arconic Stock Performance

The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 16.31 and a beta of 1.71. The stock's 50 day moving average is $27.25 and its two-hundred day moving average is $26.85. The company has a current ratio of 1.63, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88.

Insider Activity

In other news, EVP Melissa M. Miller sold 31,122 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $28.28, for a total value of $880,130.16. Following the completion of the transaction, the executive vice president now owns 66,926 shares in the company, valued at approximately $1,892,667.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arconic news, EVP Diana B. Perreiah sold 4,015 shares of the firm's stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $27.40, for a total transaction of $110,011.00. Following the completion of the transaction, the executive vice president now directly owns 126,204 shares in the company, valued at approximately $3,457,989.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Melissa M. Miller sold 31,122 shares of the firm's stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $28.28, for a total transaction of $880,130.16. Following the transaction, the executive vice president now owns 66,926 shares of the company's stock, valued at $1,892,667.28. The disclosure for this sale can be found here. Insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On Arconic

Several hedge funds have recently modified their holdings of ARNC. EverSource Wealth Advisors LLC boosted its stake in shares of Arconic by 319.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,249 shares of the basic materials company's stock worth $35,000 after purchasing an additional 951 shares during the last quarter. Tompkins Financial Corp acquired a new stake in shares of Arconic during the 1st quarter worth about $39,000. Quent Capital LLC acquired a new stake in shares of Arconic during the 4th quarter worth about $41,000. M&T Bank Corp acquired a new stake in shares of Arconic during the 2nd quarter worth about $49,000. Finally, Captrust Financial Advisors boosted its stake in shares of Arconic by 21.9% during the 1st quarter. Captrust Financial Advisors now owns 3,666 shares of the basic materials company's stock worth $94,000 after purchasing an additional 659 shares during the last quarter. 95.87% of the stock is owned by institutional investors and hedge funds.

Arconic Company Profile

(Get Rating)

Arconic Corporation manufactures and sells aluminum sheets, plates, extrusions, and architectural products in the United States, Canada, China, France, Germany, Hungary, Russia, the United Kingdom, and internationally. It operates through three segments: Rolled Products, Building and Construction Systems, and Extrusions.

Recommended Stories

• Get a free copy of the StockNews.com research report on Arconic (ARNC)
• Stock Market: 3 Islands Of Strength In A Sea Of Red
• 3 Banks Worth Considering For Q4
• MarketBeat: Week in Review 9/12 – 9/16
• No One Told These 3 Stocks It's a Down Week
• Is There a Cure for What is Ailing Teladoc Stock?

Receive News & Ratings for Arconic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arconic and related companies with MarketBeat.com's FREE daily email newsletter.