Stock On Watch: Arconic Inc Sets 52-Week High; Strong Momentum for Holders

Stock On Watch: Arconic Inc Sets 52 Week High; Strong Momentum for Holders

The stock of Arconic Inc (NYSE:ARNC) hit a new 52-week high and has $32.34 target or 65.00% above today’s $19.60 share price. The 5 months bullish chart indicates low risk for the $9.07B company. The 1-year high was reported on Nov, 16 by Barchart.com. If the $32.34 price target is reached, the company will be worth $5.90B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 182,589 shares traded hands. Arconic Inc (NYSE:ARNC) has risen 165.33% since April 14, 2016 and is uptrending. It has outperformed by 160.65% the S&P500.

According to Zacks Investment Research, “Alcoa is a global industry leader in bauxite, alumina and aluminum products.”

Insitutional Activity: The institutional sentiment decreased to 0.99 in 2016 Q2. Its down 0.04, from 1.03 in 2016Q1. The ratio dived, as 47 funds sold all Arconic Inc shares owned while 191 reduced positions. 51 funds bought stakes while 185 increased positions. They now own 775.17 million shares or 3.51% more from 748.92 million shares in 2016Q1.
M&T National Bank & Trust Corporation last reported 68,835 shares in the company. Parkside Bank And Trust, a Missouri-based fund reported 242 shares. Heartland Advisors Inc last reported 25,080 shares in the company. The Ontario – Canada-based Royal Bankshares Of Canada has invested 0.05% in Arconic Inc (NYSE:ARNC). Commonwealth Equity Services, a Massachusetts-based fund reported 376,521 shares. Diligent Investors Ltd Liability Corporation holds 0.35% of its portfolio in Arconic Inc (NYSE:ARNC) for 40,257 shares. Fjarde Ap holds 250,875 shares or 0.05% of its portfolio. Fishman Jay A Ltd Mi last reported 918,500 shares in the company. Glob X Mngmt Lc, a New York-based fund reported 12,039 shares. Tokio Marine Asset Mgmt Ltd has 0.04% invested in the company for 44,797 shares. Gulf Intll National Bank & Trust (Uk) Limited has invested 0.06% of its portfolio in Arconic Inc (NYSE:ARNC). Ronald Blue & Communications Ltd accumulated 0.01% or 14,471 shares. The Ontario – Canada-based Cibc Asset Management Incorporated has invested 0.01% in Arconic Inc (NYSE:ARNC). Morgan Stanley has 6.87M shares for 0.02% of their US portfolio. State Treasurer State Of Michigan has 456,818 shares for 0.03% of their US portfolio.

Insider Transactions: Since July 13, 2016, the stock had 5 insider purchases, and 0 selling transactions for $139,828 net activity. The insider SCHMIDT ULRICH bought $52,000. SORRELL MARTIN also bought $21,363 worth of Arconic Inc (NYSE:ARNC) on Wednesday, July 13. The insider TATA RATAN bought $22,601.

More notable recent Arconic Inc (NYSE:ARNC) news were published by: Seekingalpha.com which released: “Arconic Vs. Alcoa: What’s The Better Investment?” on November 15, 2016, also Wsj.com with their article: “Alcoa Heir Arconic in $1 Billion Supply Deal With Airbus” published on November 07, 2016, Marketwatch.com published: “Alcoa Inc. board OKs split into Alcoa Corp., Arconic” on September 29, 2016. More interesting news about Arconic Inc (NYSE:ARNC) were released by: Wsj.com and their article: “Alcoa Rises, Arconic Slips in Market Debut” published on November 01, 2016 as well as Businesswire.com‘s news article titled: “Alcoa Inc. Announces Boards of Directors for Future Arconic and Alcoa Corporation” with publication date: September 07, 2016.

ARNC Company Profile

Arconic Inc., formerly Alcoa Inc., incorporated on September 18, 1888, is engaged in providing materials and engineered products. The Firm operates through divisions, including Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s engineered products and solutions include fastening systems and rings, titanium and engineered products, power and propulsion, and forgings and extrusions. The Company’s transportation and construction solutions include wheel and transportation products; building and construction systems, and extrusions. The Company’s global rolled products include aerospace and automotive products; Micromill services and products, and brazing, commercial transportation and industrial solutions. The Firm 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.

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