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Arconic (ARNC) - Get Free Report is scheduled to report earnings on Tuesday after the close. The stock has been on a big run, climbing over 20% over the past month as the stock heads into its first earnings report as a public company.

Arconic was split off from Alcoa (AA) - Get Free Report , TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, reminded investors from the floor of the New York Stock Exchange Monday. From the way it is structured, Arconic actually owns 20% of Alcoa -- which has rallied almost 30% over the past month. Arconic can eventually sell that stake to shore up its balance sheet, which has a lot of debt, he added.

Because Arconic will hold its first earnings report, it could cause confusion, Cramer reasoned. Confusion often times leads to selling and in this case, that selling could lead to excellent opportunities for long-term investors to buy the stock.

Investors should focus on the company's long-term transformation, he said. Arconic has proprietary methods for transforming aluminum into products and compositions most people never knew could be done.

Cramer added that Arconic has a lot of exposure to aerospace, which has plenty of long-term growth as well.

Analysts expect the company to earn 13 cents per share on $3 billion in revenue for the most recent quarter.

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At the time of publication, Cramer's Action Alerts PLUS had a position in ARNC.