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 16,352,683 of common stock as of 2017-02-28.
The acquisition brings the aggregate amount owned by Elliott Associates, L.p. to a total of 16,352,683 representing a 3.7% 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. The Company’s product portfolio is focused on Arconic Micromill technology.
A glance at Arconic Inc. (NYSE:ARNC)’s key stats reveals a current market capitalization of 12.54 billion based on 438.52 Million shares outstanding and a price at last close of $28.79 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-02-24, Elliott picked up 306,000 at a purchase price of $29.27. This brings their total holding to 34,749,450 as of the date of the filing.
On the sell side, the most recent transaction saw Myers unload 4,337 shares at a sale price of $25.34. This brings their total holding to 25,688.
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.
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