Spinoff Report
ARNC: Trimming Position in Strong Industrials Player
As Arconic, Inc. (ARNC) is one of our largest positions in the Spinoff Model Portfolio and has seen a significant stock price increase over the past month (+18% over June), we are reducing our stake in the major industrials player. We do still see strong potential for value creation in this company as it continues to progress toward its break-up next year, especially considering the previously highlighted insider buying.

  • CEO & Director Previously Bought in May 2019 / Positive Pattern Buying into Price Strength
  • Director Tim Myers Increased His Own Stake by +58% Ahead of Memorial Day Weekend
  • Four CEOs in the Past Two Years / Activist Elliott Management Continues to Hold (10.7% Stake)
  • Significant Value Creation So Far in June (+18%) Bolstered by Insider Buying
  • Expected Spinoff Completion by Q1 2020 / Decreased MP Weighting by -3.5% at the End of Today's (July 1) VWAP
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