Arconic (ARNC) Lost Overweight Rating By JP Morgan; Pimco Municipal Income Fund III (PMX)’s Sentiment Is 0.78

Pimco Municipal Income Fund III (PMX) investors sentiment decreased to 0.78 in 2018 Q3. It’s down -0.22, from 1 in 2018Q2. The ratio turned negative, as 7 funds started new and increased stock positions, while 9 reduced and sold holdings in Pimco Municipal Income Fund III. The funds in our database reported: 971,265 shares, down from 975,753 shares in 2018Q2. Also, the number of funds holding Pimco Municipal Income Fund III in top ten stock positions was flat from 0 to 0 for the same number . Sold All: 1 Reduced: 8 Increased: 5 New Position: 2.

JP Morgan lowered shares of Arconic (ARNC) from a Overweight rating to a Neutral rating in a a research note sent to investors and clients on Monday, 14 January. The firm now has $22 target price on the stock.

Arconic Inc. engineers, manufactures, and sells lightweight metals of aluminum, titanium, and nickel worldwide. The company has market cap of $9.43 billion. It operates through three divisions: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. It currently has negative earnings. The Global Rolled Products segment produces and sells aluminum sheets and plates; and aseptic foils.

More notable recent Arconic Inc. (NYSE:ARNC) news were published by: Seekingalpha.com which released: “Arconic downgraded at J.P. Morgan on valuation – Seeking Alpha” on January 14, 2019, also Benzinga.com with their article: “Longbow Turns Bullish On Arconic (NYSE:ARNC), Cites Positive Feedback From Aerospace Suppliers – Benzinga” published on December 20, 2018, 247Wallst.com published: “Top Analyst Upgrades and Downgrades: Annaly, Alcoa, Carvana, Crown Castle, Delta, Northrup Grumman, PG&E, Snap, Teradyne, Western Digital, XPO and More – 24/7 Wall St.” on January 14, 2019. More interesting news about Arconic Inc. (NYSE:ARNC) were released by: Benzinga.com and their article: “Benzinga’s Top Upgrades, Downgrades For December 20, 2018 – Benzinga” published on December 20, 2018 as well as 247Wallst.com‘s news article titled: “Top Analyst Upgrades and Downgrades: Apple, Arconic, Chipotle, GrubHub, Halliburton, Humana, Yelp and Many More – 24/7 Wall St.” with publication date: December 20, 2018.

The stock decreased 0.90% or $0.18 during the last trading session, reaching $19.5. About 1.96 million shares traded. Arconic Inc. (ARNC) has declined 19.11% since January 14, 2018 and is downtrending. It has underperformed by 19.11% the S&P500. Some Historical ARNC News: 30/04/2018 – New York-based Arconic said it now expects full-year profit of $1.17 to $1.27 per share, down from its previous forecast of $1.45 to $1.55; 30/04/2018 – Arconic Sees FY Rev $13.7B-$14B; 21/04/2018 – DJ Arconic Inc, Inst Holders, 1Q 2018 (ARNC); 30/04/2018 – Arconic slides after outlook sliced by higher aluminium prices; 06/04/2018 – KLX to take final bids this month; 07/03/2018 Eolus signs 330 MW Power Purchase Agreement with Alcoa for wind farm Øyfjellet in Norway; 18/04/2018 – U.S. customers scramble to replace Rusal metal after sanctions; 30/04/2018 – ARCONIC CEO SAYS CO.’S CHALLENGE IS TO IMPROVE EXECUTION; 30/04/2018 – VIRGINIA GOV. RALPH NORTHAM COMMENTS ON ARCONIC RELOCATION; 30/04/2018 – Arconic Sees FY Adj EPS $1.17-Adj EPS $1.27

Analysts await Arconic Inc. (NYSE:ARNC) to report earnings on February, 4. They expect $0.28 earnings per share, down 9.68% or $0.03 from last year’s $0.31 per share. ARNC’s profit will be $135.33M for 17.41 P/E if the $0.28 EPS becomes a reality. After $0.32 actual earnings per share reported by Arconic Inc. for the previous quarter, Wall Street now forecasts -12.50% negative EPS growth.

Among 2 analysts covering Arconic (ARNC), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Arconic had 3 analyst reports since July 16, 2018 according to SRatingsIntel. The rating was upgraded by Longbow on Thursday, December 20 to “Buy”. On Monday, September 17 the stock rating was downgraded by Longbow to “Neutral”.

Benjamin F. Edwards & Company Inc. holds 0.07% of its portfolio in PIMCO Municipal Income Fund III for 67,953 shares. M&R Capital Management Inc owns 12,000 shares or 0.03% of their US portfolio. Moreover, Segment Wealth Management Llc has 0.03% invested in the company for 13,000 shares. The Oklahoma-based Bokf Na has invested 0.02% in the stock. First Foundation Advisors, a California-based fund reported 23,979 shares.

More notable recent PIMCO Municipal Income Fund III (NYSE:PMX) news were published by: Globenewswire.com which released: “PIMCO Municipal Closed-End Funds Announce Final Results of Tender Offers for Auction Rate Preferred Shares – GlobeNewswire” on September 12, 2018, also Seekingalpha.com with their article: “3 Excellent PIMCO National Muni CEFs, But Only 1 Is Fairly Valued Right Now – Seeking Alpha” published on January 09, 2019, Globenewswire.com published: “PIMCO Closed-End Funds Declare Monthly Common Share Distributions – GlobeNewswire” on December 03, 2018. More interesting news about PIMCO Municipal Income Fund III (NYSE:PMX) were released by: Globenewswire.com and their article: “PIMCO Municipal Closed-End Funds Announce Intention to Conduct Tender Offers for Auction Rate Preferred Shares – GlobeNewswire” published on July 20, 2018 as well as Seekingalpha.com‘s news article titled: “PIMCO Closed-End Fund Update – August – Seeking Alpha” with publication date: October 04, 2018.

Arconic Inc. (NYSE:ARNC) Ratings Chart

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