Why should you add Arconic Corporation (ARNC) to your portfolio? – Marketing Sentinel

Why should you add Arconic Corporation (ARNC) to your portfolio?

Arconic Corporation (NYSE:ARNC) has a beta value of 0 and has seen 1,529,703 shares traded in the recent trading session. The company, currently valued at $3.78 Billion, closed the recent trade at $33.95 per share which meant it gained $4.59 on the day or 15.63% during that session. The ARNC stock price is -1.68% off its 52-week high price of $34.52 and 78.79% above the 52-week low of $7.2. If we look at the company’s 10-day average daily trading volume, we find that it stood at 798.1 Million shares traded. The 3-month trading volume is 1.1 Million shares.

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The consensus among analysts is that Arconic Corporation (ARNC) is an Overweight stock at the moment, with a recommendation rating of 2.2. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 1 out of 4 have rated it as a Hold, with 3 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.27.

Arconic Corporation (NYSE:ARNC) trade information

Sporting 15.63% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, May 04 when the ARNC stock price touched $34.53- or saw a rise of 1.77%. Year-to-date, Arconic Corporation shares have moved 13.83%, while the 5-day performance has seen it change 16.72%. Over the past 30 days, the shares of Arconic Corporation (NYSE:ARNC) have changed 30.16%. Short interest in the company has seen 4.22 Million shares shorted with days to cover at 3.84.

Wall Street analysts have a consensus price target for the stock at $34.25, which means that the shares’ value could jump 0.88% from the levels at last check today. The projected low price target is $28 while the price target rests at a high of $38. In that case, then, we find that the latest price level in today’s session is +11.93% off the targeted high while a plunge would see the stock lose -17.53% from the levels at last check today.

Arconic Corporation (ARNC) estimates and forecasts

Earnings growth for 2021 is a modest -161.6% while over the next 5 years, the company’s earnings are expected to increase by 12.66%.

Arconic Corporation (NYSE:ARNC)’s Major holders

Insiders own 0.72% of the company shares, while shares held by institutions stand at 101.09% with a share float percentage of 101.82%. Investors are also buoyed by the number of investors in a company, with Arconic Corporation having a total of 387 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 16.44 Million shares worth more than $489.84 Million. As of December 30, 2020, Blackrock Inc. held 14.94% of shares outstanding.

The other major institutional holder is Orbis Allan Gray Ltd, with the holding of over 11.96 Million shares as of December 30, 2020. The firm’s total holdings are worth over $356.36 Million and represent 10.87% of shares outstanding.


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Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. As of March 30, 2021, the former fund manager holds about 5.93% shares in the company for having 6525091 shares of worth $165.67 Million while later fund manager owns 2.78 Million shares of worth $82.8 Million as of December 30, 2020, which makes it owner of about 2.53% of company’s outstanding stock.

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