Arconic Inc (ARNC) To Go Ex-Dividend on February 7th

Arconic Inc (NYSE:ARNC) announced a quarterly dividend on Wednesday, January 30th, Wall Street Journal reports. Stockholders of record on Friday, February 8th will be paid a dividend of 0.06 per share by the basic materials company on Monday, February 25th. This represents a $0.24 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, February 7th.

Arconic has a dividend payout ratio of 18.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Arconic to earn $1.58 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 15.2%.

Shares of NYSE:ARNC opened at $18.81 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.03 and a quick ratio of 1.16. The stock has a market capitalization of $9.05 billion, a P/E ratio of 15.42 and a beta of 1.48. Arconic has a 52 week low of $15.63 and a 52 week high of $26.40.

ARNC has been the subject of a number of recent research reports. Longbow Research raised shares of Arconic from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $23.25 to $18.26 in a research note on Thursday, December 20th. JPMorgan Chase & Co. lowered shares of Arconic from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $24.00 to $22.00 in a report on Monday, January 14th. Zacks Investment Research lowered shares of Arconic from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Morgan Stanley set a $22.00 target price on shares of Arconic and gave the company a “hold” rating in a report on Wednesday, October 10th. Finally, ValuEngine downgraded shares of Arconic from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Arconic presently has a consensus rating of “Hold” and a consensus price target of $23.02.

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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 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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Dividend History for Arconic (NYSE:ARNC)

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