Arconic Inc. (NYSE:ARNC) enjoyed a 51.57% run-up in share price since hitting record low of $15.63. The stock managed 0.68% rise and now stands at $23.69 as of 6/19/2019. At a recent session, the prices were hovering between $23.47 and $23.76. This company shares are 2.36% off its target price of $24.25 and the current market capitalization stands at $10.73B. The recent change has given its price a 8.63% lead over SMA 50 and -0.82% deficit over its 52-week high. The stock witnessed 7.63% gains, 24.16% gains and 23.71% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found ARNC’s volatility during a week at 1.76% and during a month it has been found around 1.79%.
What Does Arconic Inc. (ARNC) Do?
The company describes itself in regulatory filings as, “Arconic, Inc. engages in the manufacture and engineering of lightweight metals. It operates through the following segments: Global Rolled Products; Engineered Products and Solutions; and Transportation and Construction Solutions. The Global Rolled Products segment produces aluminum sheet and plate. The Engineered Products and Solutions segment include fastening systems (titanium, steel, and nickel superalloys); seamless rolled rings (mostly nickel superalloys); investment castings (nickel superalloys, titanium, and aluminum); and extruded, machined and formed aircraft parts (titanium and aluminum). The Transportation and Construction Solutions segment offers aluminum structural systems, architectural extrusions, and forged aluminum commercial vehicle wheels. The company was founded in 1888 and is headquartered in New York, NY.” [Text can be found here: https://www.marketwatch.com/investing/stock/ARNC/profile under company description.]Arconic Inc. (ARNC) Top Holders
Institutional investors currently hold around $8.94 billion or 87% in ARNC stock. Look at its top three institutional owners: Elliott Associates, L.P. owns $1.22 billion in Arconic Inc., which represents roughly 11.38% of the company’s market cap and approximately 13.67% of the institutional ownership. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 46,119,557 shares of the stock are valued at $1.09 billion. The third largest holder is Blackrock Inc., which currently holds $808.68 million worth of this stock and that ownership represents nearly 7.54% of its market capitalization.
At the end of March reporting period, 244 institutional holders increased their position in Arconic Inc. (NYSE:ARNC) by some 22,968,592 shares, 241 decreased positions by 41,130,181 and 95 held positions by 315,711,615. That puts total institutional holdings at 379,810,388 shares, according to SEC filings. The stock grabbed 62 new institutional investments totaling 4,112,048 shares while 87 institutional investors sold out their entire positions totaling 10,740,663 shares.Arconic Inc. (NYSE:ARNC) Insider Trades
Multiple company employees have indulged in significant insider trading. Arconic Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Director GUPTA RAJIV has acquired 22,603 shares of Arconic Inc. (ARNC) in the trading session dated May. 02, 2019. These shares are worth $499,526 and were traded at $22.1 each. The SEC filing shows that PLANT JOHN C performed a purchase of 50,000 shares. The Chairman and CEO added these shares by way of transaction on May. 02, 2019. The company’s shares were assimilated at $22.14 per share worth to an investment of some $1,107,000 to the account of PLANT JOHN C.
Chairman and CEO, PLANT JOHN C, purchased 105,000 common shares of Arconic Inc. (ARNC) in the open market. In a transaction dated Mar. 12, 2019, the shares were bought at an average price of $18.67, giving away a sum of $1,960,350. After this purchase, 248,282 common shares of ARNC are directly owned by the insider, with total stake valued at $5,881,801.
In the transaction dated Mar. 07, 2019, a great number of shares acquired came courtesy the Chairman and CEO; PLANT JOHN C added a total of 105,000 shares at an average price of $18.51, amounting to approximately $1,943,550. The insider now directly owns 143,282 shares worth $3,394,351.Arconic Inc. (ARNC) Analyst Guide
Several analysts have released their opinion on Arconic Inc. (NYSE:ARNC), with 1 analysts believing it is a strong buy. Whereas 6 of them predict the stock is a hold. Also, there are 4 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.45 average brokerage recommendation [T1].