Elliott Associates, L.P.

revealed that they own a 10.6% stake in Arconic Inc. (NYSE:ARNC) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Wednesday, December 20th. The investor owns 51,102,133 shares of the stock valued at approximately $1,335,298,735. The reporting parties listed on the disclosure included Elliott Associates, LP, Elliott International, LP and Elliott International Capital Advisors Inc. The disclosure is available through EDGAR at this link.

Several other large investors have also modified their holdings of ARNC. Capital Fund Management S.A. purchased a new stake in Arconic in the 2nd quarter worth approximately $7,597,000. TSP Capital Management Group LLC increased its holdings in Arconic by 5.9% in the 2nd quarter. TSP Capital Management Group LLC now owns 237,528 shares of the basic materials company’s stock worth $5,380,000 after acquiring an additional 13,260 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in Arconic by 15.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 22,322 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 2,949 shares in the last quarter. Andra AP fonden increased its holdings in Arconic by 16.0% in the 2nd quarter. Andra AP fonden now owns 125,400 shares of the basic materials company’s stock worth $2,840,000 after acquiring an additional 17,300 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Arconic by 41.2% in the 3rd quarter. Nordea Investment Management AB now owns 146,279 shares of the basic materials company’s stock worth $3,639,000 after acquiring an additional 42,702 shares in the last quarter. Hedge funds and other institutional investors own 74.62% of the company’s stock.

Shares of Arconic Inc. (NYSE:ARNC) traded up $0.50 on Wednesday, reaching $26.13. 3,205,598 shares of the company’s stock were exchanged, compared to its average volume of 4,098,068. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.38 and a current ratio of 2.30. Arconic Inc. has a twelve month low of $18.47 and a twelve month high of $30.69. The stock has a market cap of $12,326.71, a price-to-earnings ratio of 25.11 and a beta of 0.85.

Arconic (NYSE:ARNC) last announced its quarterly earnings data on Monday, October 23rd. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Arconic had a negative net margin of 4.70% and a positive return on equity of 9.71%. The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.09 billion. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. equities research analysts expect that Arconic Inc. will post 1.16 EPS for the current year.

ARNC has been the subject of several analyst reports. Vetr raised shares of Arconic from a “hold” rating to a “buy” rating and set a $27.97 target price for the company in a report on Tuesday, October 17th. Zacks Investment Research raised shares of Arconic from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Tuesday, September 12th. Longbow Research raised shares of Arconic from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a report on Tuesday, August 22nd. Seaport Global Securities reissued a “buy” rating and issued a $29.00 target price (up from $27.00) on shares of Arconic in a report on Tuesday, September 26th. Finally, Deutsche Bank set a $31.00 target price on shares of Arconic and gave the stock a “buy” rating in a report on Tuesday, October 24th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Arconic presently has an average rating of “Hold” and an average price target of $28.75.

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About Arconic

Arconic Inc, formerly Alcoa Inc, is engaged in lightweight metals engineering and manufacturing. The Company operates through three segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. Its multi-material products, which include aluminum, titanium and nickel, are used around the world in markets, such as aerospace, automotive, commercial transportation and packaging.

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Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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