Intrinsic value of Arconic - ARNC

Previous Close

$21.48

  Intrinsic Value

$17.63

stock screener

  Rating & Target

hold

-18%

Previous close

$21.48

 
Intrinsic value

$17.63

 
Up/down potential

-18%

 
Rating

hold

We calculate the intrinsic value of ARNC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 10.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  9.60
  9.14
  8.73
  8.35
  8.02
  7.72
  7.44
  7.20
  6.98
  6.78
  6.60
  6.44
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
Revenue, $m
  14,204
  15,502
  16,855
  18,263
  19,727
  21,250
  22,832
  24,476
  26,184
  27,960
  29,806
  31,727
  33,725
  35,806
  37,973
  40,231
  42,586
  45,042
  47,605
  50,281
  53,076
  55,997
  59,051
  62,244
  65,585
  69,081
  72,740
  76,571
  80,584
  84,788
Variable operating expenses, $m
  13,214
  14,371
  15,577
  16,832
  18,137
  19,494
  20,904
  22,370
  23,892
  25,475
  26,569
  28,281
  30,063
  31,917
  33,849
  35,862
  37,961
  40,150
  42,435
  44,820
  47,312
  49,916
  52,637
  55,484
  58,462
  61,578
  64,840
  68,255
  71,832
  75,579
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  13,214
  14,371
  15,577
  16,832
  18,137
  19,494
  20,904
  22,370
  23,892
  25,475
  26,569
  28,281
  30,063
  31,917
  33,849
  35,862
  37,961
  40,150
  42,435
  44,820
  47,312
  49,916
  52,637
  55,484
  58,462
  61,578
  64,840
  68,255
  71,832
  75,579
Operating income, $m
  990
  1,131
  1,278
  1,431
  1,590
  1,756
  1,928
  2,106
  2,292
  2,484
  3,237
  3,446
  3,663
  3,889
  4,124
  4,369
  4,625
  4,892
  5,170
  5,461
  5,765
  6,082
  6,413
  6,760
  7,123
  7,503
  7,900
  8,316
  8,752
  9,209
EBITDA, $m
  1,993
  2,175
  2,365
  2,562
  2,768
  2,981
  3,203
  3,434
  3,674
  3,923
  4,182
  4,452
  4,732
  5,024
  5,328
  5,645
  5,975
  6,320
  6,679
  7,055
  7,447
  7,857
  8,285
  8,733
  9,202
  9,692
  10,206
  10,744
  11,307
  11,896
Interest expense (income), $m
  524
  452
  540
  632
  727
  826
  929
  1,036
  1,147
  1,263
  1,383
  1,508
  1,638
  1,774
  1,914
  2,061
  2,213
  2,372
  2,538
  2,711
  2,891
  3,080
  3,276
  3,482
  3,697
  3,922
  4,157
  4,403
  4,660
  4,930
  5,212
Earnings before tax, $m
  539
  591
  647
  705
  764
  827
  891
  959
  1,028
  1,101
  1,729
  1,807
  1,889
  1,975
  2,064
  2,156
  2,253
  2,354
  2,460
  2,570
  2,685
  2,805
  2,932
  3,063
  3,201
  3,346
  3,497
  3,656
  3,822
  3,996
Tax expense, $m
  145
  160
  175
  190
  206
  223
  241
  259
  278
  297
  467
  488
  510
  533
  557
  582
  608
  636
  664
  694
  725
  757
  792
  827
  864
  903
  944
  987
  1,032
  1,079
Net income, $m
  393
  432
  472
  514
  558
  604
  651
  700
  751
  804
  1,262
  1,319
  1,379
  1,441
  1,506
  1,574
  1,645
  1,718
  1,795
  1,876
  1,960
  2,048
  2,140
  2,236
  2,337
  2,443
  2,553
  2,669
  2,790
  2,917

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  20,526
  22,402
  24,357
  26,392
  28,508
  30,708
  32,994
  35,369
  37,838
  40,404
  43,073
  45,848
  48,736
  51,743
  54,874
  58,138
  61,540
  65,089
  68,793
  72,661
  76,700
  80,921
  85,334
  89,948
  94,776
  99,827
  105,115
  110,652
  116,451
  122,526
Adjusted assets (=assets-cash), $m
  20,526
  22,402
  24,357
  26,392
  28,508
  30,708
  32,994
  35,369
  37,838
  40,404
  43,073
  45,848
  48,736
  51,743
  54,874
  58,138
  61,540
  65,089
  68,793
  72,661
  76,700
  80,921
  85,334
  89,948
  94,776
  99,827
  105,115
  110,652
  116,451
  122,526
Revenue / Adjusted assets
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
  0.692
Average production assets, $m
  9,275
  10,123
  11,006
  11,926
  12,882
  13,876
  14,909
  15,983
  17,098
  18,258
  19,464
  20,718
  22,023
  23,381
  24,796
  26,271
  27,809
  29,412
  31,086
  32,834
  34,659
  36,566
  38,560
  40,645
  42,827
  45,110
  47,499
  50,001
  52,622
  55,367
Working capital, $m
  1,577
  1,721
  1,871
  2,027
  2,190
  2,359
  2,534
  2,717
  2,906
  3,104
  3,309
  3,522
  3,744
  3,974
  4,215
  4,466
  4,727
  5,000
  5,284
  5,581
  5,891
  6,216
  6,555
  6,909
  7,280
  7,668
  8,074
  8,499
  8,945
  9,411
Total debt, $m
  8,184
  9,569
  11,012
  12,513
  14,075
  15,698
  17,385
  19,139
  20,961
  22,854
  24,824
  26,872
  29,003
  31,222
  33,533
  35,942
  38,453
  41,072
  43,805
  46,659
  49,641
  52,756
  56,012
  59,418
  62,980
  66,709
  70,611
  74,697
  78,977
  83,460
Total liabilities, $m
  15,148
  16,533
  17,976
  19,477
  21,039
  22,662
  24,349
  26,103
  27,925
  29,818
  31,788
  33,836
  35,967
  38,186
  40,497
  42,906
  45,417
  48,036
  50,769
  53,623
  56,605
  59,720
  62,976
  66,382
  69,944
  73,673
  77,575
  81,661
  85,941
  90,424
Total equity, $m
  5,378
  5,869
  6,382
  6,915
  7,469
  8,045
  8,644
  9,267
  9,914
  10,586
  11,285
  12,012
  12,769
  13,557
  14,377
  15,232
  16,124
  17,053
  18,024
  19,037
  20,095
  21,201
  22,357
  23,566
  24,831
  26,155
  27,540
  28,991
  30,510
  32,102
Total liabilities and equity, $m
  20,526
  22,402
  24,358
  26,392
  28,508
  30,707
  32,993
  35,370
  37,839
  40,404
  43,073
  45,848
  48,736
  51,743
  54,874
  58,138
  61,541
  65,089
  68,793
  72,660
  76,700
  80,921
  85,333
  89,948
  94,775
  99,828
  105,115
  110,652
  116,451
  122,526
Debt-to-equity ratio
  1.520
  1.630
  1.730
  1.810
  1.880
  1.950
  2.010
  2.070
  2.110
  2.160
  2.200
  2.240
  2.270
  2.300
  2.330
  2.360
  2.380
  2.410
  2.430
  2.450
  2.470
  2.490
  2.510
  2.520
  2.540
  2.550
  2.560
  2.580
  2.590
  2.600
Adjusted equity ratio
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  393
  432
  472
  514
  558
  604
  651
  700
  751
  804
  1,262
  1,319
  1,379
  1,441
  1,506
  1,574
  1,645
  1,718
  1,795
  1,876
  1,960
  2,048
  2,140
  2,236
  2,337
  2,443
  2,553
  2,669
  2,790
  2,917
Depreciation, amort., depletion, $m
  1,002
  1,044
  1,086
  1,131
  1,178
  1,226
  1,276
  1,328
  1,382
  1,439
  945
  1,006
  1,069
  1,135
  1,204
  1,275
  1,350
  1,428
  1,509
  1,594
  1,682
  1,775
  1,872
  1,973
  2,079
  2,190
  2,306
  2,427
  2,554
  2,688
Funds from operations, $m
  1,396
  1,475
  1,559
  1,645
  1,736
  1,829
  1,927
  2,028
  2,133
  2,242
  2,207
  2,325
  2,448
  2,576
  2,710
  2,849
  2,995
  3,146
  3,304
  3,470
  3,643
  3,823
  4,012
  4,209
  4,416
  4,632
  4,859
  5,096
  5,345
  5,605
Change in working capital, $m
  138
  144
  150
  156
  163
  169
  176
  182
  190
  197
  205
  213
  222
  231
  241
  251
  261
  273
  285
  297
  310
  324
  339
  354
  371
  388
  406
  425
  445
  467
Cash from operations, $m
  1,258
  1,331
  1,409
  1,489
  1,573
  1,660
  1,751
  1,845
  1,943
  2,045
  2,002
  2,112
  2,226
  2,346
  2,470
  2,599
  2,733
  2,874
  3,020
  3,173
  3,332
  3,499
  3,673
  3,855
  4,045
  4,244
  4,453
  4,671
  4,899
  5,138
Maintenance CAPEX, $m
  -411
  -450
  -491
  -534
  -579
  -625
  -674
  -724
  -776
  -830
  -886
  -945
  -1,006
  -1,069
  -1,135
  -1,204
  -1,275
  -1,350
  -1,428
  -1,509
  -1,594
  -1,682
  -1,775
  -1,872
  -1,973
  -2,079
  -2,190
  -2,306
  -2,427
  -2,554
New CAPEX, $m
  -814
  -848
  -883
  -919
  -956
  -994
  -1,033
  -1,073
  -1,116
  -1,160
  -1,206
  -1,254
  -1,305
  -1,359
  -1,415
  -1,475
  -1,537
  -1,604
  -1,674
  -1,747
  -1,825
  -1,907
  -1,994
  -2,085
  -2,181
  -2,283
  -2,390
  -2,502
  -2,620
  -2,745
Cash from investing activities, $m
  -1,225
  -1,298
  -1,374
  -1,453
  -1,535
  -1,619
  -1,707
  -1,797
  -1,892
  -1,990
  -2,092
  -2,199
  -2,311
  -2,428
  -2,550
  -2,679
  -2,812
  -2,954
  -3,102
  -3,256
  -3,419
  -3,589
  -3,769
  -3,957
  -4,154
  -4,362
  -4,580
  -4,808
  -5,047
  -5,299
Free cash flow, $m
  33
  33
  34
  35
  38
  41
  44
  48
  52
  56
  -90
  -87
  -84
  -82
  -81
  -80
  -80
  -80
  -81
  -84
  -87
  -91
  -96
  -102
  -109
  -117
  -127
  -137
  -149
  -161
Issuance/(repayment) of debt, $m
  1,340
  1,385
  1,443
  1,502
  1,562
  1,623
  1,687
  1,753
  1,822
  1,894
  1,969
  2,048
  2,131
  2,219
  2,311
  2,408
  2,511
  2,619
  2,733
  2,854
  2,981
  3,115
  3,257
  3,406
  3,563
  3,728
  3,903
  4,086
  4,280
  4,483
Issuance/(repurchase) of shares, $m
  75
  60
  40
  19
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,415
  1,445
  1,483
  1,521
  1,562
  1,623
  1,687
  1,753
  1,822
  1,894
  1,969
  2,048
  2,131
  2,219
  2,311
  2,408
  2,511
  2,619
  2,733
  2,854
  2,981
  3,115
  3,257
  3,406
  3,563
  3,728
  3,903
  4,086
  4,280
  4,483
Total cash flow (excl. dividends), $m
  1,448
  1,478
  1,516
  1,556
  1,600
  1,664
  1,732
  1,801
  1,874
  1,949
  1,879
  1,961
  2,047
  2,137
  2,231
  2,329
  2,432
  2,539
  2,652
  2,770
  2,894
  3,024
  3,160
  3,303
  3,453
  3,611
  3,776
  3,949
  4,131
  4,322
Retained Cash Flow (-), $m
  -468
  -492
  -512
  -533
  -554
  -576
  -599
  -622
  -647
  -672
  -699
  -727
  -757
  -788
  -820
  -855
  -891
  -930
  -970
  -1,013
  -1,058
  -1,106
  -1,156
  -1,209
  -1,265
  -1,324
  -1,385
  -1,451
  -1,519
  -1,592
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  980
  986
  1,004
  1,023
  1,045
  1,088
  1,133
  1,179
  1,227
  1,277
  1,180
  1,234
  1,290
  1,349
  1,410
  1,474
  1,540
  1,609
  1,682
  1,757
  1,836
  1,918
  2,004
  2,094
  2,189
  2,287
  2,390
  2,499
  2,612
  2,730
Discount rate, %
  7.30
  7.67
  8.05
  8.45
  8.87
  9.32
  9.78
  10.27
  10.79
  11.32
  11.89
  12.49
  13.11
  13.77
  14.45
  15.18
  15.93
  16.73
  17.57
  18.45
  19.37
  20.34
  21.35
  22.42
  23.54
  24.72
  25.96
  27.25
  28.62
  30.05
PV of cash for distribution, $m
  913
  851
  796
  739
  683
  638
  589
  539
  488
  437
  343
  301
  260
  222
  186
  154
  125
  99
  78
  59
  45
  33
  23
  16
  11
  7
  5
  3
  2
  1
Current shareholders' claim on cash, %
  99.3
  98.8
  98.4
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3

Arconic Inc., formerly Alcoa Inc., is engaged in lightweight metals engineering and manufacturing. The Company operates through three segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. Its multi-material products, which include aluminum, titanium and nickel, are used around the world in markets, such as aerospace, automotive, commercial transportation and packaging. The Global Rolled Products segment produces a range of aluminum sheet and plate products for the aerospace, automotive, commercial transportation, brazing and industrial markets. The Engineered Products and Solutions segment develops and manufactures products for the aerospace (commercial and defense), commercial transportation and power generation end markets. The Transportation and Construction Solutions segment produces products that are used in the non-residential building and construction and commercial transportation end markets.

FINANCIAL RATIOS  of  Arconic (ARNC)

Valuation Ratios
P/E Ratio -10
Price to Sales 0.8
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow 10.8
Price to Free Cash Flow -36.9
Growth Rates
Sales Growth Rate -0.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -4.7%
Cap. Spend. - 3 Yr. Gr. Rate -1.2%
Financial Strength
Quick Ratio 47
Current Ratio 0
LT Debt to Equity 157.3%
Total Debt to Equity 158%
Interest Coverage 2
Management Effectiveness
Return On Assets -8.1%
Ret/ On Assets - 3 Yr. Avg. -3.3%
Return On Total Capital -5.5%
Ret/ On T. Cap. - 3 Yr. Avg. -1.9%
Return On Equity -11%
Return On Equity - 3 Yr. Avg. -3.8%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 20.8%
Gross Margin - 3 Yr. Avg. 19%
EBITDA Margin 16.7%
EBITDA Margin - 3 Yr. Avg. 15.9%
Operating Margin 6.6%
Oper. Margin - 3 Yr. Avg. 5.4%
Pre-Tax Margin 3.3%
Pre-Tax Margin - 3 Yr. Avg. 1.9%
Net Profit Margin -7.6%
Net Profit Margin - 3 Yr. Avg. -2.7%
Effective Tax Rate 356.5%
Eff/ Tax Rate - 3 Yr. Avg. 231.9%
Payout Ratio -24.2%

ARNC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ARNC stock intrinsic value calculation we used $12960 million for the last fiscal year's total revenue generated by Arconic. The default revenue input number comes from 0001 income statement of Arconic. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ARNC stock valuation model: a) initial revenue growth rate of 9.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.3%, whose default value for ARNC is calculated based on our internal credit rating of Arconic, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Arconic.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ARNC stock the variable cost ratio is equal to 93.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for ARNC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.6% for Arconic.

Corporate tax rate of 27% is the nominal tax rate for Arconic. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ARNC stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ARNC are equal to 65.3%.

Life of production assets of 20.6 years is the average useful life of capital assets used in Arconic operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ARNC is equal to 11.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4910 million for Arconic - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 482.955 million for Arconic is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Arconic at the current share price and the inputted number of shares is $10.4 billion.

RELATED COMPANIES Price Int.Val. Rating
ARNC Arconic 21.48 22.82  hold
AA Alcoa 35.34 845.27  str.buy
ACH Aluminum Corp. 10.02 4,689.74  str.buy
RIO Rio Tinto ADR 49.53 3,965.07  str.buy
KALU Kaiser Aluminu 102.30 102.15  hold

COMPANY NEWS

▶ Does Arconic Incs (NYSE:ARNC) Debt Level Pose A Problem?   [Oct-11-18 08:27AM  Simply Wall St.]
▶ Arconic (ARNC) Jumps: Stock Rises 7.1%   [Oct-09-18 09:56AM  Zacks]
▶ Techs Tumble Cant Keep the Dow Down   [Oct-08-18 06:26PM  Barrons.com]
▶ Winners & Losers   [05:46PM  Yahoo Finance Video]
▶ Arconic Stock Gets a Boost From Bid Buzz   [04:15PM  InvestorPlace]
▶ Hopeful economic signs send stocks higher, bond prices lower   [Oct-03-18 02:45PM  Associated Press]
▶ Arconic Board Approves Quarterly Dividend   [Sep-27-18 04:30PM  Business Wire]
▶ No way out? US, China tariffs may become the 'new normal'   [Sep-19-18 05:08PM  Associated Press]
▶ Sources: Alcoa is in the market for a new office in Pittsburgh   [Sep-17-18 02:08PM  American City Business Journals]
▶ What's Gone Wrong With Arconic Inc.?   [Aug-31-18 06:02AM  Motley Fool]
▶ [$$] Stocks to Watch: Tesla, Netflix, Arconic, PG&E, and More   [Aug-27-18 09:02AM  The Wall Street Journal]
▶ Arconic Soars Nearly 5% on Takeover Report   [04:19PM  TheStreet.com]
▶ Arconic forges deal for new headquarters in Tysons   [Aug-09-18 11:11AM  American City Business Journals]
▶ [$$] Arconic Shops Unit That Made Panels in Grenfell Fire   [Jul-31-18 08:36PM  The Wall Street Journal]
▶ [$$] Arconic Shops Unit That Made Panels in Grenfell Fire   [01:47PM  The Wall Street Journal]
▶ Arconic: 2Q Earnings Snapshot   [08:11AM  Associated Press]
▶ Arconic, Inc. to Host Earnings Call   [08:00AM  ACCESSWIRE]
▶ Arconic Reports Second Quarter 2018 Results   [08:00AM  Business Wire]
▶ [$$] Alcoa spin-off Arconic to sell building products unit   [Jul-30-18 10:33PM  Financial Times]
▶ Arconic Board Approves Quarterly Dividend   [08:30AM  Business Wire]
▶ Here's Why Arconic Rose Over 11% Today   [Jul-26-18 03:27PM  Motley Fool]
▶ [$$] Private equity groups consider bid for Arconic   [Jul-25-18 10:29PM  Financial Times]
▶ How Much Is Alcoa Hurt By Trump Tariffs?   [Jul-20-18 10:27PM  InvestorPlace]
▶ Business Highlights   [Jul-19-18 05:58PM  Associated Press]
▶ The 5 Worst S&P 500 Stocks of 2018 (So Far)   [Jul-18-18 09:17AM  Motley Fool]
▶ What Happened in the Stock Market Today   [Jul-16-18 04:51PM  Motley Fool]
▶ Arconic Stock Soars on Buyout Buzz   [11:16AM  InvestorPlace]
▶ [$$] Arconic Draws Interest From Buyout Firms   [Jul-13-18 11:47PM  The Wall Street Journal]
▶ Arconic Draws Interest From Buyout Firms   [11:23PM  The Wall Street Journal]
▶ Who Just Ramped Up Their Shares In Arconic Inc (NYSE:ARNC)?   [Jun-27-18 11:50AM  Simply Wall St.]
▶ Fresh US-China trade threats sink global stock markets   [Jun-19-18 02:22PM  Associated Press]
▶ Canada to impose tariffs on U.S., challenge at WTO   [May-31-18 04:57PM  Reuters]
▶ Arconic Board Approves Quarterly Dividends   [May-17-18 08:30AM  Business Wire]
▶ Elliott Takes the Scenic Route for Arconic Revival   [May-16-18 07:30AM  Bloomberg]
▶ Fortune 500 firm that picked Virginia for global HQ also considered North Carolina   [May-09-18 02:39PM  American City Business Journals]
▶ Arconic Is a Mess, and Its Recovery Will Take a While   [May-07-18 08:03AM  Motley Fool]

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