Arconic Corporation (NYSE:ARNC) shares traded 0.17% higher at $29.98 on Wall Street last session.
In accordance with the data, 2 analysts cover Arconic Corporation (NYSE:ARNC). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $21.00 and a low of $21.00, we find $21.00. Given the previous closing price of $29.93, this indicates a potential downside of -29.84 percent. ARNC stock price is now 1.42% away from the 50-day moving average and 17.24% away from the 200-day moving average. The market capitalization of the company currently stands at $3.01B.
It has been rated a hold by 2 analysts and a buy by 0. Brokers who have rated the stock have averaged $21.00 as their price target over the next twelve months.
In other news, Austen William F., Director bought 10,000 shares of the company’s stock on Nov 21. The stock was bought for $198,406 at an average price of $19.84. Upon completion of the transaction, the Director now directly owns 10,000 shares in the company, valued at $0.3 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 25, Executive Vice President Perreiah Diana B. sold 4,015 shares of the business’s stock. A total of $110,011 was realized by selling the stock at an average price of $27.40. This leaves the insider owning 126,204 shares of the company worth $3.78 million. Insiders disposed of 235,922 shares of company stock worth roughly $7.07 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ARNC stock. A new stake in Arconic Corporation shares was purchased by FIL LTD during the first quarter worth $120,250,000. MAGNETAR FINANCIAL LLC invested $72,862,000 in shares of ARNC during the first quarter. In the first quarter, KRYGER CAPITAL LTD acquired a new stake in Arconic Corporation valued at approximately $63,364,000. WESTCHESTER CAPITAL MANAGEMENT, LLC acquired a new stake in ARNC for approximately $32,167,000. MAN GROUP PLC purchased a new stake in ARNC valued at around $27,732,000 in the second quarter. In total, there are 405 active investors with 97.50% ownership of the company’s stock.
Arconic Corporation (NYSE: ARNC) opened at $29.98 on Wednesday. During the past 12 months, Arconic Corporation has had a low of $16.33 and a high of $29.99. As of last week, the company has a debt-to-equity ratio of 1.08, a current ratio of 1.60, and a quick ratio of 0.80. The fifty day moving average price for ARNC is $29.58 and a two-hundred day moving average price translates $25.62 for the stock.
The latest earnings results from Arconic Corporation (NYSE: ARNC) was released for Jun, 2023. According to the Metal Fabrication Company, earnings per share came in at $0.58, beating analysts’ expectations of $0.5 by 0.08. This compares to $1.06 EPS in the same period last year. The net profit margin was -3.10% and return on equity was -17.40% for ARNC. The company reported revenue of $1.99 billion for the quarter, compared to $2.55 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -21.9 percent. For the current quarter, analysts expect ARNC to generate $2.17B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 02/25/2020. Investors who held shares on 02/07/2020 were paid a $0.02 dividend.
Arconic Corporation(ARNC) Company Profile
Arconic Corporation manufactures and sells fabricated aluminum sheets, plates, extrusions, and architectural products and systems in the United States and internationally. It operates through three segments: Rolled Products, Building and Construction Systems, and Extrusions. The Rolled Products segment provides a range of aluminum sheet and plate products for aerospace, ground transportation, packaging, building and construction, and industrial products; and roofing, architectural composite panels, ventilated facades and ceiling panels, spacers, culvert pipes, and gutters for building and construction markets. The Building and Construction Systems segment provides various products and building envelope solutions, such as entrances, curtain walls, windows, composite panels, and coil coated sheets for fabricators and glazing subcontractors under the Kawneer, Reynobond, and Reynolux brands. The Extrusions segment offers extruded products, such as automotive shapes, aerospace shapes, seamless tubes, hollows, mortar fins, and high strength rods and bars for ground transportation, aerospace, and industrial markets. The company offers its products directly to customers, as well as through distributors. The company was formerly known as Arconic Rolled Products Corporation and changed its name to Arconic Corporation in April 2020. Arconic Corporation was founded in 1888 and is headquartered in Pittsburgh, Pennsylvania.
