Elliott Associates Just Bought Arconic Inc. (NYSE:ARNC) Shares

If Trump is to carry through with his word, and his promise to raise employment...
Stay Ahead of the
Stock Market Game!
Subscribe to Small Cap
Exclusive for more

trending

Infinity Pharmaceuticals (NASDAQ:INFI) Stock Bounces...
Ibio Inc (NYSEAMERICAN:IBIO) Contonies to Hot New Hi...
Omega Therapeutics OMGA Stock Price is ready to take...

If Trump is to carry through with his word, and his promise to raise employment in the US (although it’s currently at pretty high levels, so he’s going to have to work hard to do it) then the engineering industry should see a boom across the coming three to five years. It seems institutional funds are recognising this, and positioning themselves accordingly.

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Arconic Inc. (NYSE:ARNC) reported that Elliott Associates, L.p. has picked up 14,432,682 of common stock as of 2017-01-25.

The acquisition brings the aggregate amount owned by Elliott Associates, L.p. to a total of 14,432,682 representing a 3.3% stake in the company.

For those not familiar with the company, Arconic Inc., formerly Alcoa Inc., is engaged in providing materials and engineered products. The Company operates through segments, including Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company offers engineered products and solutions, including fastening systems and rings, titanium and engineered products, power and propulsion, and forgings and extrusions. Its transportation and construction solutions include wheel and transportation products; building and construction systems, and extrusions. Its global rolled products include aerospace and automotive products; Micromill products and services, and brazing, commercial transportation and industrial solutions. It offers a range of aluminum sheet and plate products for the aerospace, automotive, commercial transportation, brazing and industrial markets.

A glance at Arconic Inc. (NYSE:ARNC)’s key stats reveals a current market capitalization of 10.27 billion based on 438.48 million shares outstanding and a price at last close of $22.53 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-01-24, Elliott picked up 192,700 at a purchase price of $21.74. This brings their total holding to 30,669,451 as of the date of the filing.

On the sell side, the most recent transaction saw Jarrault unload 12,810 shares at a sale price of $10.23. This brings their total holding to 352,889.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Arconic Inc. (NYSE:ARNC) as things move forward to see if its progress aligns with these transactions.

Subscribe below and we’ll keep you on top of what’s happening before it moves markets.

Stay in the lopp :

Guess Who Picked Up Shutterfly Inc. (NASDAQ:S...
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Shutterfly Inc. (NASDAQ:SFLY) reported that Park West Asset Management has
TTWO Stock Price is liquid, can it go higher?...

Take-Two Interactive Software TTWO stock price is up 18% in the last 5 days & volume is up 236%, but is

Hyster-Yale Materials Handling Inc. (NYSE:HY)...
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Hyster-Yale Materials Handling Inc. (NYSE:HY) reported that Rankin Alfred M

related post

Skip to content