Price Action to Note: Is Arconic Inc’s Fuel Running Low? The Stock Reaches 52-Week High Today

Price Action to Note: Is Arconic Inc's Fuel Running Low? The Stock Reaches 52 Week High Today

The stock of Arconic Inc (NYSE:ARNC) hit a new 52-week high and has $21.37 target or 4.00% above today’s $20.55 share price. The 8 months bullish chart indicates low risk for the $9.19B company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $21.37 price target is reached, the company will be worth $367.60M 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 1.82 million shares traded hands. Arconic Inc (NYSE:ARNC) has risen 160.13% since April 22, 2016 and is uptrending. It has outperformed by 154.72% the S&P500.

Analysts await Arconic Inc (NYSE:ARNC) to report earnings on January, 9.

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

Insitutional Activity: The institutional sentiment decreased to 0.55 in Q2 2016. Its down 0.44, from 0.99 in 2016Q1. The ratio dropped, 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.
Moreover, Orbis (Us) Ltd Liability Co has 1.75% invested in Arconic Inc (NYSE:ARNC) for 225,011 shares. Indexiq Advsr Ltd accumulated 55,630 shares or 0.03% of the stock. The Texas-based Asset Mngmt Lc has invested 0.04% in Arconic Inc (NYSE:ARNC). Tudor Inv Et Al has 141,612 shares for 0.03% of their US portfolio. Moreover, Stifel Fincl has 0.03% invested in Arconic Inc (NYSE:ARNC) for 612,635 shares. Winfield Assoc holds 0.01% or 1,895 shares in its portfolio. Bnp Paribas Investment Prns Sa holds 0.01% of its portfolio in Arconic Inc (NYSE:ARNC) for 96,084 shares. Kcg Holdg Inc accumulated 0.06% or 326,293 shares. New Mexico Educational Retirement Board, a New Mexico-based fund reported 153,279 shares. City Holdings last reported 2,500 shares in the company. Moreover, Farmers Merchants has 0% invested in Arconic Inc (NYSE:ARNC) for 333 shares. Allen Inv Mngmt Lc reported 34,265 shares or 0.02% of all its holdings. Brown Brothers Harriman And accumulated 0% or 1,500 shares. Brigade Cap Management Lp has invested 0.42% of its portfolio in Arconic Inc (NYSE:ARNC). Concourse Cap Management Lc owns 597,638 shares or 3.44% 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. SCHMIDT ULRICH also bought $52,000 worth of Arconic Inc (NYSE:ARNC) shares. On Thursday, October 13 SORRELL MARTIN bought $21,932 worth of the stock or 820 shares. On Thursday, October 13 TATA RATAN bought $22,601 worth of the stock or 845 shares.

More notable recent Arconic Inc (NYSE:ARNC) news were published by: Wsj.com which released: “Alcoa Rises, Arconic Slips in Market Debut” on November 01, 2016, also Zacks.com with their article: “Should You Get Rid of Arconic Inc. (ARNC) Now?” published on November 22, 2016, Wsj.com published: “Alcoa Heir Arconic in $1 Billion Supply Deal With Airbus” on November 07, 2016. More interesting news about Arconic Inc (NYSE:ARNC) were released by: Marketwatch.com and their article: “/quotes/zigman/3870025/realtime” published on November 01, 2016 as well as Seekingalpha.com‘s news article titled: “Arconic Vs. Alcoa: What’s The Better Investment?” with publication date: November 15, 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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