ARNC - Arconic Corporation
14.35 +0.23 (1.63%)
Before hours: 6:23AM EDT
Chart Events
Commodity Channel Index
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 14.19 |
| Open | 13.95 |
| Bid | 0.00 x 800 |
| Ask | 14.54 x 800 |
| Day's Range | 13.70 - 14.44 |
| 52 Week Range | 5.80 - 34.27 |
| Volume | 1,315,647 |
| Avg. Volume | 2,365,179 |
| Market Cap | 1.54B |
| Beta (5Y Monthly) | N/A |
| PE Ratio (TTM) | 6.32 |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | N/A |
Fair Value
Related Research
- Insider Monkey
Hedge Funds Never Been Less Bullish On Arconic Corporation (ARNC)
In this article we will check out the progression of hedge fund sentiment towards Arconic Corporation (NYSE:ARNC) and determine whether it is a good investment right now. We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and 20 […]
- GuruFocus.com
Spinoffs Roundup: These Companies Could Unlock Value in 2020
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- TipRanks
Solid Insider Buying Puts These 3 Stocks in Focus
Finding a reliable stock strategy is a key to sanity in this Age of Coronavirus. The pandemic has pushed governments to impost extreme economic shutdown orders, as part of a larger society ‘stay at home’ policy. The result has been a stoppage of business, a decline in earnings, and a sudden sharp turn from steady economic growth to a deep recessionary event, perhaps even a Depression. And so, for investors, a reliable stock strategy is both necessary and hard to find.One strategy is to follow the insiders. Insiders are the corporate officers and board members charged with running and overseeing public companies. Their positions give them access to information that’s not always available to the general public. To keep the playing field honest, Federal regulators require that insiders publish their trades – and that information can be used by the general public for trading purposes.When the insiders make large purchases, laying down large sums for hefty blocs of shares, it can be taken as a clear sign of confidence. So following their purchases is a viable strategy for finding potentially profitable stock plays.TipRanks has the tools to help you do just that. The Insiders’ Hot Stocks page shows which stocks top insiders are most active on, for both purchases and sales. You can sort insider trades by a variety of filters, including trading strategy. We’ve done some of the legwork for you, and pulled up three stocks with recent informative buy-side transactions. Here are the results.Microchip Technology (MCHP)We’ll start in the semiconductor chip industry. Microchip is a major name in the industry, boasting a market cap of $21.5 billion and the sixth largest sales share among its peers. The company’s focus is on microcontroller and microprocessor chips for memory solutions, power managements apps, and wireless connection devices. These are essential components in today’s digital world – Microchip never has a problem finding customers.Two important company officers have bought up large blocs of shares in recent days. First up was Steve Sanghi, CEO and Chairman, who put down $3.1 million to buy 37,000 shares. Also buying shares was Senior VP Richard Simoncic, who bought over 6,000 shares for more than $501K. This is a substantial fraction of his total $4.8 million holding.The calendar Q1 performance shows the company’s quality. MCHP reported strong EPS, of $1.46, beating the forecast by over 6%. Revenues, while missing the estimates, did grow over 3% sequentially, to $1.33 billion. Management attributed the mixed results to the impact of coronavirus on demand – weak demand in the automotive, industrial, and consumer segments meant that those manufacturers in turn had weak demand for Microchip’s products. At the same time, communication and data center demand grew, as a direct result of the move toward remote office work and customer service.Writing on the stock for Piper Sandler, 5-star analyst Harsh Kumar notes that Microchip’s forward guidance was squarely in line with expectations, and that the company is taking a cautious approach to the 2020 sales environment. Kumar writes, “Looking to the mid and long-term, we continue to like Microchip, as it remains one of the best positioned and most profitable semiconductor companies. Even in the current environment, free cash flow and debt pay down were both exceptional.”Kumar places a Buy rating on MCHP shares, and that backs that with a $120 price target suggesting a 36% upside potential for the coming 12 months. (To watch Kumar’s track record, click here)The Strong Buy analyst consensus rating on this stock is based on 16 reviews, including 13 Buys and 3 Holds. Shares are priced at $87.81, while the average target of $102.56 implies a 16% upside potential. (See Microchip stock analysis on TipRanks)Arconic (ARNC)Last on today’s list is Arconic, a name you may not have heard of in its current incarnation. This company is a spin-off from the aluminum giant Alcoa. Arconic became an independent entity, controlling the parent company’s bauxite and aluminum operations, last November. The new company’s focus is lightweight metals engineering and precision manufacturing. Arconic’s products are used in the aerospace, automotive, commercial transport, defense, electronics, and oil and gas fields. Arconic is particularly well-known for turbine blades. ARNC shares started trading this past March. Since it opened trading less than three months ago, ARCN shares are up 46%.In recent days, no fewer than 5 of Arconic’s insiders have bought up blocs of shares. The prices paid ranged from $114,000 to $346,000. The two largest purchases were by directors: William Austen bought 17,620 shares for $202,000, and Frederick Henderson bought 33,200 shares for $346,000. These purchases are a clear indicator for investors that this company’s officers are confident in its future.Also confident is Credit Suisse analyst Curt Woodworth, who writes, “ARNC is a high-quality producer of aluminum alloy rolled products with significant leverage to secular growth in automotive and packaging, and a LT recovery in aerospace. We see 3Q as a major inflection point as Ford and GM truck / SUV production sharply accelerates and OEMs need to restock heat-treat plate, which has limited shelf life.”Woodworth puts a $22 price target on ARNC shares, implying a strong 71% upside as he initiates coverage on this new industrial stock. (To watch Woodworth’s track record, click here)While ARNC has only two recent reviews (it is a new stock, after all), they combine to a Moderate Buy rating. Shares are selling for $12.84, after two months of solid gains, and the average price target of $19.50 suggests the stock has room for a 51% upside this year. (See Arconic stock analysis on TipRanks)Clipper Realty, Inc. (CLPR)Next up is a real estate investment trust (REIT). These companies typically offer investors a solid combination of firm financial and reliable dividends. Clipper Realty owns, manages and operates commercial properties and multi-family residential (that’s apartments) properties, in and around the New York City area.Two insiders have made informative buys here in the past 7 days. The larger purchase was by David Bistricer, a director of the company. He bought up 106,666 shares for $611,000. His Board colleague, Sam Levinson, made a smaller purchase of 14,334 shares, paying over $82,000. CLPR showed $30.9 million in revenue for Q1 2020, up more than 11% from the year before. Net operating income, at $17.1 million, was a company record – but better for investors, was also up 16% year-over-year. The strong income supported a dividend of 9.5 cents per share for the quarter. CLPR’s dividend has been steady for the past three years, and the current payout ratio, of 73%, is a clear attraction for investors interested in an income stock. The yield, at 5.6%, is almost triple the average yield among financial sector peers.The stock has only one recent analyst review, by B. Riley FBR analyst Craig Kucera, but he wears his bullishness on his sleeve. His Buy rating is backed up with a $14 price target – which implies a robust 107% one-year upside potential. (To watch Kucera’s track record, click here)Kucera writes of CLPR, “1Q20 results were ahead of expectations, and April cash rent collections from CLPR's diversified portfolio of residential, office, and retail assets located in the greater NYC metro were at 94%... we believe CLPR's decision to significantly increase its liquidity during a challenging NYC commercial real estate environment related to COVID-19 was prudent.”To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
- Bloomberg
The New Coal Miner Pitch: Don’t Mention Coal
(Bloomberg Opinion) -- Gray? Try “steel-colored.” Angular? You must mean “steel-inspired.” I’m referring, of course, to the new logo of the rechristened Arch Resources Inc.The old logo, with its stylized fragment of St Louis’ Gateway Arch, was fine — apart from the fact that it had the word “coal” in it. Arch Coal, the company’s old name, was a mite too connected with a certain fuel that is not only in terminal decline in the U.S. but also rather unpopular with the ESG crowd.When Arch Coal was formed in 1997, America’s power stations were burning 900 million tons a year, generating more than half the country’s electricity, and climbing. Today, thermal coal accounts for less than a fifth of the mix:Remarkably, in announcing its name change this week, Arch pulled a Voldemort with the word “coal”: It doesn’t appear anywhere in the main body of the press release(3). This is doubly impressive when you consider Arch Resources will in fact continue to mine prodigious quantities of ... well, you know. Thingy.Only Arch is now focused on a different class of thingy. Metallurgical coal is thermal coal’s more prosperous sibling, a vital ingredient for making steel; hence Arch’s steely new logo. Except Arch refers to these black rocks dug out from the ground not as metallurgical coal but as metallurgical products.Corporate rebranding tends to offer a rich seam of material, but Arch’s new name is actually a logical progression in a logical strategy.Ever since the miner emerged from chapter 11 in 2016, its approach has been one long tacit acknowledgement that the U.S. thermal coal industry is in a downward spiral. That business has essentially been run for cash, with capex running at just 70% of depreciation, and the company’s Powder River Basin assets are about to be subsumed into a joint venture with Peabody Energy Corp. The more profitable metallurgical business, meanwhile, is expanding, with a major new project in West Virginia underway. Most importantly, though, for every dollar Arch has invested back into the business, it’s spent about $1.60 on stock buybacks, taking in 40% of the shares(1) . This is how you head into the sunset.So the new name and Terminator-esque logo aren’t just some branding consultant’s WFH project. It’s the latest step in Arch’s quest to carve out a new life after death. For example, see this from the announcement:We expect steel to play an essential role in the revitalization of the global economy as it recovers from the disruption of the COVID-19 pandemic, and in the construction of a new economy supported by mass transit systems, wind turbines and electric vehicles.See? No mention of coal, but a cameo by wind turbines, no less (ah, the irony). Mad Men’s Don Draper once pitched Bethlehem Steel on advertising itself as producing the building blocks of America’s great cities. In real life, Arch would like you to know it mines the building blocks that go into making those building blocks.On one level, that’s par for the course. Any commodity producer would like you to associate their otherwise standard product with something more exceptional and valuable; similar thinking underlay Arconic Corp.’s split from aluminum smelter Alcoa Corp. Metallurgical coal may be higher-margin, but it remains a commodity, with all the volatility that entails; the stock has halved so far this year(2). Far better to focus minds on something more stable, like a T-bar.In this case, though, there’s a bigger drama playing out, and the wind turbine is the key character. While Arch’s announcement lacked “coal,” it provided my annual quota of “environmental, social and governance” mentions in the space of a few minutes. Arch is still running its thermal coal mines and likely will for as long as they spit out cash. But competition from cheap shale gas and renewable energy has made thermal coal a tough sell to investors already. Now climate change is making it altogether taboo — regardless of how efficient the miner — as ESG considerations gain traction.The ongoing rebranding of Big Oil as Big Energy reflects similar dynamics. As the function of energy markets shifts from simply producing ever more tons or barrels or whatnot to optimizing supply, demand and emissions, so the expectations of the capital markets shift, too. The multiple that makes a stock price is ultimately just some narrative about the future expressed as a number (for an extreme example, see Tesla Inc.). It isn’t just that Arch’s old story no longer convinces; it’s increasingly unacceptable and thereby a burden on, rather than a boost to, value. Becoming truly steel-inspired requires being a touch coal-amnesic.(1) You'll find a couple of instances further down in the safe-harbor language, but who reads that? Of course we all read that.(2) All figures are aggregated for the period 2017 through the first quarter of 2020.(3) Amove of just $25 a ton in the price of metallurgical coal is enough to swing Arch’sEbitda by $175 million, as per Arch Resources' investor presentation on May 15, 2020. Data are pro-forma for the start up of the Leer South project in West Virginia.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Motley Fool
Why Arconic Stock Jumped 16.5% at the Open on May 20
Specialty parts manufacturer Arconic saw a big gain at the open as at least one research shop thinks a business upturn is in the cards.
- Moody's
Arconic Corporation -- Moody's assigns Ba1 rating to Arconic's 1st lien senior secured notes, downgrades CFR to Ba3; outlook stable
Moody's Investors Service, ("Moody's") assigned a Ba1 rating to Arconic Corporation's (Arconic) 1st lien senior secured notes and downgraded the Corporate Family Rating (CFR) to Ba3 from Ba2 and the Probability of Default Rating to Ba3-PD from Ba2-PD. The Ba3 2nd lien senior secured notes rating was affirmed. The SGL-1 speculative liquidity grade rating is unchanged.
- MarketWatch
Arconic sees Q1 revenue down 12% to $1.6 billion after coronavirus disruption
Aluminum sheet maker Arconic Inc. said Monday it expects first-quarter revenue of $1.6 billion, down about 12% from the year-earlier period, due to disruptions in the automotive, commercial transportation and aerospace markets caused by the coronavirus pandemic. The FactSet consensus is for revenue of $3.4 billion. Arconic split into two standalone companies - Arconic Corporation and Howmet Aerospace Inc. -- on April 1 and the guidance is based on preliminary unaudited financial results from Howmet reported on April 14. The Pittsburgh, Pa.-based company said it expects cost savings implemented to combat the effect of the virus are expected to improve its financial profile by $200 million in 2020. The company's China facilities are now back to normal product, while its Russian packaging facility is running at full operations due to strong end-market demand. The company's New York facility resumed operations on April 20 and the Tennessee plant is expected to ramp up activity this week. "We are pleased with the recent announcement on April 22(nd) by the ITC initiating antidumping and countervailing duties trade case against 18 countries on common alloy sheet products and we expect this will benefit our operations and others in industrial aluminum processing," Chief Executive Tim Myers said in a statement. Arconic has more than $1 billion in liquidity, including about $500 million in cash on its balance sheet, and its maturities are "well into the future." "Our business is flexible and cash requirements are countercyclical and we expect working capital will be a source of cash in the near team, and together with the benefit of the recent management actions to reduce costs, we believe we have adequate liquidity to operate the Company in spite of ongoing uncertainties," Chief Financial Officer Erick Asmussen said in the statement.
- Moody's
Iowa Finance Authority -- Moody's downgrades Howmet Aerospace (formerly Arconic Inc.) ratings (CFR to Ba3); outlook negative
Moody's Investors Service ("Moody's") downgraded its ratings for Howmet Aerospace Inc. (Howmet), including the company's corporate family rating (CFR) and probability of default rating (to Ba3 and Ba3-PD, respectively), and the senior unsecured debt ratings (to Ba3, from Ba2). Howmet's speculative grade liquidity (SGL) rating was downgraded to SGL-2 from SGL-1.
- American City Business Journals
Arconic sees layoffs, idled facilities from coronavirus impact
Arconic Corp. (NYSE: ARNC) announced plans to respond to impacts from the coronavirus pandemic Wednesday, including cutting ten percent of its salaried workforce, according to a news release. It decreased senior-level management salaries by 20 percent and all other salaried employees by 10 percent. The mitigation efforts also include lowering production and labor at all U.S.-based rolling and extrusion facilities through shortened work weeks and shift reductions.
- Simply Wall St.
Does Arconic's (NYSE:ARNC) P/E Ratio Signal A Buying Opportunity?
Market forces rained on the parade of Arconic Inc. (NYSE:ARNC) shareholders today, when the analysts downgraded their...
- Simply Wall St.
A Sliding Share Price Has Us Looking At Arconic Inc.'s (NYSE:ARNC) P/E Ratio
Unfortunately for some shareholders, the Arconic (NYSE:ARNC) share price has dived 49% in the last thirty days. The...
- Insider Monkey
Hedge Funds Were Buying Arconic Inc. (ARNC) Before The Coronavirus
Will the new coronavirus cause a recession in US in the next 6 months? On February 27th, we put the probability at 75% and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to […]
- American City Business Journals
Three Pittsburgh executives named to list of most overpaid CEOs
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- InvestorPlace
Technical Numbers Don’t Tell the Full Story For AA Stock
When you think about overlooked lessons that new investors learn in the stock market, one in particular comes to mind -- for every hard-and-fast rule that technical investors use to evaluate the best stocks to buy, there's always an exception or two.Source: Daniel J. Macy / Shutterstock.com That brings us to struggling U.S. aluminum producer Alcoa (NYSE: AA) which, according to a key technical indicator, hit oversold territory in 2020 and could be ripe for a rebound.But not so fast, folks.InvestorPlace - Stock Market News, Stock Advice & Trading TipsInstead, Alcoa stock is a great example of what can happen when an investor relies too much on technical analysis. Indeed, you ought to stay far away from AA stock for the foreseeable future. AA Stock by the NumbersAlcoa is the world's eighth-largest aluminum producer, making both primary aluminum and fabricated aluminum. The stock is trading around $13.50, down a whopping 37% year-to-date. That's part of a long-term drop, too -- AA stock lost more than half its value in the last 12 months, and more than 74% from April 2018 prices. * 10 Stocks to Buy for Your 10-Year-Old But investors really started fleeing in earnest after AA reported horrendous fourth-quarter and full-year earnings on January 15. The company said it lost $0.31 per share, 10 cents more than analysts anticipated.That brings us to an interesting technical indicator -- the Relative Strength Index, or RSI. On this 1-to-100 scale, any reading of 30 or less means that the stock is oversold and is due for a bounce off support. Currently, AA stands at 29.8, as seen on the top line of this chart.Source: Chart courtesy of StockCharts.comSo does that mean that you should go buy AA now? My Portfolio Grader says no, as AA holds an F-rating, making it a "Strong Sell" right now. There's Little Left to Like About AA StockIt hasn't been that long since Alcoa was a major player on Wall Street. By being one of the first companies to report each quarter, Alcoa was a bellwether to the economy in general. If its manufacturing engine was running in high gear, then investors had more confidence in other companies and began expecting a rosy quarter.But as the economy began moving away from the manufacturing base, Alcoa lost prestige and stock price. The company was replaced in 2013 on the Dow Jones Industrial Average. Then, in 2016, the company spun the more profitable parts of the business -- lightweight metals used in aerospace, automotive and consumer electronics, among others -- to a new company, Arconic (NYSE: ARNC).Not coincidentally, ARNC stock is up 67% in the last 12 months, and was up 10% year-to-date before the market fell on COVID-19 coronavirus fears.Arconic has a market cap of $13.3 billion and has a bullish outlook, while Alcoa is stuck with an ever-shrinking market cap of $2.5 billion, which is way too small in an aluminum market dominated by China and Chinese companies. China produces more than half of the world's aluminum, while the U.S. and Canada produces only 330 million tons -- less than all of east and central Europe or the Middle East.There's nothing to indicate that AA stock is ready for a bounce -- despite what the RSI indicator says. Investors should use technical tools to help them evaluate stocks, but be careful not to follow them blindly into the poor house.Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system -- with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the "Master Key" to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Buy for Your 10-Year-Old * 5 Hot Cannabis Stocks to Snap Up * Buy These 5 Super Fast-Growth Dividend Stocks While They Are Down The post Technical Numbers Don't Tell the Full Story For AA Stock appeared first on InvestorPlace.
- GuruFocus.com
GAMCO Investors Exits Viacom, Spark Therapeutics
Firm's largest sales of the 4th quarter Continue reading...
- American City Business Journals
Pittsburgh companies implement travel restrictions in response to coronavirus threats
As worries over the coronavirus and its spread beyond China increase, many companies in the Pittsburgh business community have put travel restrictions into place. Reed Smith LLP, a law firm with hundreds of attorneys and employees downtown and international operations, asked all of its employees to defer travel to any region for which the U.S. Centers for Disease Control and Prevention has issued a Level 3, Avoid Nonessential Travel, or Level 2, Practice Enhanced Precautions alerts. “We have advised that travel to mainland China, South Korea, Iran, Northern Italy or Japan should be cancelled and that no new travel should be planned to these regions until further notice,” Phil Page, Reed Smith’s chief of office services, said via email on Thursday.
- Zacks
When Does Market Timing Actually Work? - February 04, 2020
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- Zacks
New Strong Sell Stocks for January 29th
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- Moody's
Arconic Rolled Products Corporation -- Moody's rates Arconic Rolled Products senior secured 2nd lien bonds (Ba3); outlook negative
Moody's Investors Service, ("Moody's") assigned a Ba3 rating to Arconic Rolled Products Corporation (Arconic) senior secured 2nd lien bonds. The Ba2 Corporate Family Rating (CFR), Ba2-PD Probability of Default rating and the Ba1 rating on the company's $1 billion senior secured first lien revolving credit facility and $800 million senior secured first lien Term Loan B were affirmed. Arconic Rolled Products Corporation is the spin off from its parent, Arconic Inc of the Global Rolled Products, Extrusions, Building and Construction businesses.
- American City Business Journals
Pittsburgh companies shuffle to keep employees safe in China
It's also put into place a ban on employee travel within China, to and from China from Asia Pacific and elsewhere in the world.
- Zacks
Arconic (ARNC) Trails Earnings and Sales Estimates in Q4
Weakness in commercial transportation, automotive as well as building and construction markets dent Arconic's (ARNC) Q4 results.
- American City Business Journals
Arconic sets separation date, talks Boeing uncertainty
"The majority of the work has been completed, and we are on track with all separation steps."
- Zacks
Arconic's (ARNC) Q4 Earnings and Sales Miss Estimates
Arconic's (ARNC) adjusted earnings for Q4 came in at 53 cents per share, which missed the Zacks Consensus Estimate of 54 cents.
