Elliott Associates is Buying Arconic Inc. (NYSE:ARNC) Shares


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 2017-05-30.

The acquisition brings the aggregate amount owned by Elliott Associates, L.p. to a total of 16,352,683 representing less than 3.7% stake in the company.

For those not familiar with the company, 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. The Global Rolled Products segment produces a range of aluminum sheet and plate products for the aerospace, automotive, commercial transportation, brazing and industrial markets. The Engineered Products and Solutions segment develops and manufactures products for the aerospace (commercial and defense), commercial transportation and power generation end markets. The Transportation and Construction Solutions segment produces products that are used in the non-residential building and construction and commercial transportation end markets.

A glance at Arconic Inc. (NYSE:ARNC)’s key stats reveals a current market capitalization of 12.09 Billion based on 440.83 Million shares outstanding and a price at last close of $27.22 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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