Top 5 Stock Picks of Naval Khera’s Brightline Capital

2. Arconic Corporation (NYSE:ARNC)

Mr. Khera’s Stake Value: $18.5 million

Percentage of Mr. Khera’s 13F Portfolio: 12.46%

Number of Hedge Fund Holders: 30

Arconic Corporation (NYSE:ARNC) is one of the oldest American companies founded in 1888 and headquartered in Pittsburg, Pennsylvania. It primarily deals with the construction and architecture sector, selling products such as roofing, ceiling, pipes, facades and gutters.

In its third quarter 2021 earnings report, Arconic Corporation (NYSE:ARNC) reported $1.89 billion in revenue and $0.15 in GAAP EPS, missing analyst estimates for both. Deutsche Bank, after the earnings, reduced the company’s share price target to $42 in November 2021 citing the share price drops leading to the earnings release.

Mr. Khera’s Brightline Capital held 520,000 shares of Arconic Corporation (NYSE:ARNC) during the second quarter of this year, in a stake worth $18.5 million and representing 12.46% of its portfolio. During the same time, 30 of the 873 hedge funds polled by Insider Monkey had holdings in the company.

Arconic Corporation (NYSE:ARNC)’s largest shareholder is William B. Gray’s Orbis Investment Management who owns $378 million of equity through 10 million shares.