|Bid||0.00 x 4000|
|Ask||0.00 x 800|
|Day's Range||17.93 - 18.40|
|52 Week Range||15.63 - 25.34|
|Beta (3Y Monthly)||2.40|
|PE Ratio (TTM)||14.06|
|Earnings Date||Jul 23, 2018 - Jul 27, 2018|
|Forward Dividend & Yield||0.24 (1.37%)|
|1y Target Est||21.63|
NEW YORK, Feb. 20, 2019 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
Arconic Inc. confirmed Tuesday that it has agreed to repurchase $700 million-worth of its common stock. JPMorgan Chase & Co. (NYSE: JPM) advised the deal. New York-based Arconic (NYSE:ARNC), the lightweight metals manufacturer spun off from Alcoa in 2016, will receive initial delivery of approximately 31.9 million shares on Thursday.
Arconic Inc. said Tuesday it has entered into a $700 million accelerated share repurchase (ASR) deal. Based on the metals manufacturer's Friday stock closing price of $17.55, the ASR could represent the buyback of 39.89 million shares, or about 8.3% of the shares outstanding. Under terms of the ASR with J.P. Morgan Chase Bank, National Association, London Branch, the initial delivery of about 31.9 million shares would be made on Feb. 21, with the final amount to be based on the volume-weighted average price during the term of the deal, less a discount. The stock, which is still inactive in premarket trade, has tumbled 13.7% over the past three months, while the S&P 500 has gained 3.2%.
Arconic Inc. (ARNC) today announced that it has entered into an accelerated share repurchase (ASR) agreement with JPMorgan Chase Bank, National Association, London Branch, to repurchase $700 million of Arconic’s common stock, pursuant to the share repurchase program previously authorized by the Board of Directors. Under the ASR agreement, Arconic will receive initial delivery of approximately 31.9 million shares on February 21, 2019.
Arconic Inc. (ARNC) announced that it today granted an award of 1,000,000 restricted stock units to new Chief Executive Officer John C. Plant, pursuant to its letter agreement with Mr. Plant, dated February 13, 2019, as well as an award of 385,000 restricted stock units to new Chief Operating Officer Elmer L. Doty, pursuant to its letter agreement with Mr. Doty, dated February 15, 2019. The restricted stock unit award granted to Mr. Plant will vest on February 6, 2020, contingent on his continued service as Chief Executive Officer, subject to prorated or full accelerated vesting upon the occurrence of certain events, and the restricted stock unit award granted to Mr. Doty will vest ratably over a two-year period, contingent on his continued service as Chief Operating Officer, subject to prorated or full accelerated vesting upon the occurrence of certain events.
The European Commission has begun an investigation into whether Chinese producers are dumping steel vehicle wheels into Europe at excessively low prices, the EU official journal said on Friday. The journal ...
Aluminum panel maker Arconic Inc. said Wednesday it is planning to invest $100 million to expand its hot mill capacity and add downstream equipment capabilities to industrial and automotive products at its Tennessee operations. The company is expecting the move to create 70 new jobs and to be complete by the fourth quarter of 2020. Shares were slightly higher premarket, but have fallen 28% in the last 12 months, while the S&P 500 has gained 3.1%.
The group announced a new leadership team and longtime CEO Melanie Jordan is shifting to a new role as emeritus executive director of the 18-year-old aerospace suppliers trade group.
Arconic Inc. (ARNC) today announced an investment of approximately $100 million to expand its hot mill capability and add downstream equipment capabilities to manufacture industrial and automotive aluminum products in its Tennessee Operations facility near Knoxville, Tennessee. Customer commitments for the majority of the anticipated increase in capacity are already in place, and the remainder is expected to be filled by projected customer demand. “This investment will add capacity to meet growing demand for industrial products and automotive aluminum sheet,” said Tim Myers, President of Arconic’s Global Rolled Products business.
One company will focus on parts making and the other will focus on the production of aluminum sheets, according to the company.
on Friday said it plans to split the company into two core businesses - an aircraft and power generation components unit, and a sheet and plate products division - with the intention of spinning off one of them down the road. "After a rigorous and comprehensive process, we did not receive a proposal for a full-company transaction that we believe was in the best interests of our shareholders," CEO John Plant said. "As part of the strategy and portfolio review, we have determined to separate the portfolio into Engineered Products & Forgings and Global Rolled Products.
Stocks were mixed on Friday, Feb. 8, as investors increasingly grew concerned that Donald Trump's decision not to meet with Chinese President Xi Jinping before their self-imposed deadline for a trade deal signals a lack of progress in the months-long negotiations. Trump told reporters in the White House that he has no plans to meet Xi between now and March 2, when his administration has vowed to increase tariffs on $200 billion worth of China-made goods to 25% from 10% if a trade deal isn't in place. Trump's brief comments suggested talks, which resume next week in Beijing with U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer, remain stuck on key issues such as China's broader market reforms and intellectual property protections.
It plans to separate its portfolio into engineered products and forgings and global rolled products and will spin off one of the segments. Chairman and acting CEO John Plant, who took the job earlier this week, will only serve in that role for a year. Given years of upheaval at the top, investors can’t feel assured that Arconic will stick with the latest plan.
Aluminum-parts manufacturer Arconic Inc. said it plans to spin off one of its two main business units after rejecting a $10 billion offer for the entire company and abruptly replacing its chief executive. “We did not receive a proposal for a full-company transaction that we believe was in the best interests of our shareholders,” Chief Executive John Plant said in the company’s fourth-quarter earnings release.
TransDigm gets most of its revenue from proprietary aerospace parts, meaning it controls the patents and intellectual property behind the components and is often the sole provider of them. TransDigm’s private equity mentality and capital structure has led to at least 30 publicly disclosed acquisitions over the past decade, the biggest of which was its October agreement to acquire Esterline Technologies Corp. for about $4 billion. Fortive, meanwhile, is aggressively transitioning away from the cyclical, mediocre-growth industrial assets that Danaher Corp. put into the business when it spun it off in 2016.
An Arconic spinoff is in the works and news of the change has shares of ARNC stock falling on Friday.Source: Shutterstock Arconic (NYSE:ARNC) announced its spinoff plans during its earnings report for the fourth quarter of 2018. According to company Chairman and CEO John Plant, it did not receive a proposal for a full-company transaction that he and the Board believes was in the best interest for holders of ARNC stock holders.With that plan not panning out, Plant says that the company is now looking at an Arconic spinoff. This will include the company splitting its business between Engineered Products & Forgings and Global Rolled Products.InvestorPlace - Stock Market News, Stock Advice & Trading TipsPlant notes that there will also be other changes that take place as part of the Arconic spinoff. Among these is the company potentially selling off other parts of its business that don't fit well into the Engineered Products & Forgings and Global Rolled Products portfolios.The Arconic spinoff news is dragging down ARNC stock today despite an earnings beat for the fourth quarter of the year. This includes earnings per share of 33 cents. That's an increase over the company's earnings per share of 31 cents from the same time last year. It also comes in above Wall Street's earnings per share estimate of 30 cents. * 7 Reasons You Want Boeing Stock in Your Portfolio There's also revenue of $3.47 billion for the fourth quarter of 2018. This is up from the company's revenue of $3.27 billion from the same period of the year prior. It also beats out analysts' revenue estimate of $3.42 billion for the period, but couldn't keep ARNC stock from falling.ARNC stock was down 4% as of Friday afternoon. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Monster Growth Stocks to Buy for 2019 and Beyond * 7 Cloud Stocks To Buy Now * 5 Undervalued Stocks to Invest In As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Arconic Spinoff: ARNC Stock Dips on Split Plans appeared first on InvestorPlace.
The company will separate into one company focused on parts making and another on the production of aluminum sheets, Arconic said Friday in a statement as it reported fourth-quarter earnings. One of the units will be spun off, and Arconic will consider a sale of any operations that don’t fit into either of the businesses. “There are fundamentally different rhythms, return profiles, capital-allocation requirements” for the two business lines, Chief Executive Officer John Plant said on a call with analysts.
Arconic's (ARNC) Q4 results benefit from higher volumes in all segments. The company expects 2019 adjusted earnings in the band of $1.55-$1.65 per share.
Arconic (ARNC) delivered earnings and revenue surprises of 10.00% and 1.75%, respectively, for the quarter ended December 2018. Do the numbers hold clues to what lies ahead for the stock?
Arconic Inc would split itself into two units - aircraft and power generation components unit and sheet and plate products division, and will spin off one of them at a later date, the U.S. aluminum products maker said on Friday. The decision comes days after Chairman John Plant took over as chief executive officer in a surprise move, following Arconic's rejection of a takeover bid by private equity firm Apollo Global Management last month. The company's biggest shareholder Elliott Management Corp has been trying to push Arconic for a sale, but potential legal liabilities from its smaller building and construction systems unit has put a question mark on the company's valuation, causing the board to be split over possible offers.
NEW YORK (AP) _ Arconic Inc. (ARNC) on Friday reported fourth-quarter net income of $218 million, after reporting a loss in the same period a year earlier. The New York-based company said it had net income of 44 cents per share. The maker of engineered products for the aerospace and other industries posted revenue of $3.47 billion in the period, also topping Street forecasts.