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Arconic Corporation (ARNC) Volatility At 4.62%, Should You Add A Position?

387 institutions hold shares in Arconic Corporation (ARNC), with 788.65k shares held by insiders accounting for 0.72% while institutional investors hold 101.59% of the company’s shares. The shares outstanding are 109.00M, and float is at 108.34M with Short Float at 3.90%. Institutions hold 100.86% of the Float.

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The top institutional shareholder in the company is Blackrock Inc. with over 16.44 million shares valued at $489.84 million. The investor’s holdings represent 14.94% of the ARNC Shares outstanding. As of Dec 30, 2020, the second largest holder is Orbis Allan Gray Ltd with 11.96 million shares valued at $356.36 million to account for 10.87% of the shares outstanding. The other top investors are Elliott Investment Management L.P. which holds 10.39 million shares representing 9.44% and valued at over $309.66 million, while Vanguard Group, Inc. (The) holds 7.31% of the shares totaling 8.04 million with a market value of $239.64 million.

Arconic Corporation (NYSE: ARNC) is -1.04% lower on its value in year-to-date trading and has touched a low of $7.79 and a high of $31.85 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ARNC stock was last observed hovering at around $29.92 in the last trading session, with the day’s loss setting it -0.43% off its average median price target of $35.50 for the next 12 months. It is also 22.39% off the consensus price target high of $38.00 offered by 4 analysts, but current levels are -5.32% lower than the price target low of $28.00 for the same period.

Currently trading at $29.49, the stock is 9.67% and 11.68% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.88 million and changing -1.44% at the moment leaves the stock 19.24% off its SMA200. ARNC registered 234.73% gain for a year compared to 6-month gain of 27.83%. The firm has a 50-day simple moving average (SMA 50) of $27.03 and a 200-day simple moving average (SMA200) of $26.92.

The stock witnessed a 14.93% loss in the last 1 month and extending the period to 3 months gives it a 14.57%, and is 7.47% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.62% over the week and 4.55% over the month.

Arconic Corporation (ARNC) has around 13400 employees, a market worth around $3.20B and $5.67B in sales. Fwd P/E is 10.77. Profit margin for the company is -1.90%. Distance from 52-week low is 278.56% and -7.41% from its 52-week high. The company has generated returns on investments over the last 12 months (2.90%).

Arconic Corporation (ARNC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Arconic Corporation (ARNC) is a “Overweight”. 4 analysts offering their recommendations for the stock have an average rating of 2.00, where 1 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Arconic Corporation is expected to release its quarterly report on 08/10/2021 and quarterly earnings per share for the current quarter are estimated at $0.27 with sales reaching $1.53B over the same period.The EPS is expected to shrink by -161.60% this year, but quarterly earnings will post 16.90% year-over-year.

Arconic Corporation (ARNC) Insider Activity

A total of 7 insider transactions have happened at Arconic Corporation (ARNC) in the last six months, with sales accounting for 1 and purchases happening 6 times. The most recent transaction is an insider purchase by MYERS TIMOTHY DONALD, the company’s Chief Executive Officer. SEC filings show that MYERS TIMOTHY DONALD bought 5,000 shares of the company’s common stock on Feb 26 at a price of $22.52 per share for a total of $0.11 million. Following the purchase, the insider now owns 0.51 million shares.

Arconic Corporation disclosed in a document filed with the SEC on Feb 26 that Miller Melissa M (Executive VP & CHRO) bought a total of 2,500 shares of the company’s common stock. The trade occurred on Feb 26 and was made at $22.87 per share for $57175.0. Following the transaction, the insider now directly holds 2500.0 shares of the ARNC stock.

Still, SEC filings show that on Feb 26, Miller Melissa M (Executive VP & CHRO) acquired 3,000 shares at an average price of $22.85 for $68550.0. The insider now directly holds 95,353 shares of Arconic Corporation (ARNC).

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