Arconic (ARNC) shares are down some 30% so far this year.

Wall Street Journal report cited sources pointing to private equity interest in the firm. 

"The stock is so low, I'm sure someone feels they can do better," said TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer.

Want exclusive investing insight from Jim Cramer? Get 24/7 access to Jim's charitable trust portfolio with a free trial to Action Alerts PLUS!

More from Video

Buy CVS Stock 'With Alacrity' If It Falls 8% From Here, Jim Cramer Says

Buy CVS Stock 'With Alacrity' If It Falls 8% From Here, Jim Cramer Says

Why Jim Cramer Is Holding Off on Buying Nvidia Stock

Why Jim Cramer Is Holding Off on Buying Nvidia Stock

3 Things to Know at Market Close: Netflix, Chinese New Year, and KPMG

3 Things to Know at Market Close: Netflix, Chinese New Year, and KPMG

Stocks Are Walking a 'Tightrope' Right Now, and That's Good, Cramer Says

Stocks Are Walking a 'Tightrope' Right Now, and That's Good, Cramer Says

Why Jim Cramer Likes Cisco

Why Jim Cramer Likes Cisco