Financial Counselors Inc. trimmed its stake in Alcoa Corp. (NYSE:AA) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,831 shares of the industrial products company’s stock after selling 111 shares during the quarter. Financial Counselors Inc.’s holdings in Alcoa Corp. were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Alliancebernstein L.P. increased its holdings in Alcoa Corp. by 113.5% during the 2nd quarter. Alliancebernstein L.P. now owns 231,239 shares of the industrial products company’s stock worth $7,550,000 after acquiring an additional 122,909 shares during the period. Aberdeen Asset Management PLC UK increased its holdings in Alcoa Corp. by 94.1% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 58,100 shares of the industrial products company’s stock worth $1,897,000 after acquiring an additional 28,167 shares during the period. Commonwealth Bank of Australia increased its holdings in Alcoa Corp. by 45.2% during the 2nd quarter. Commonwealth Bank of Australia now owns 82,593 shares of the industrial products company’s stock worth $2,696,000 after acquiring an additional 25,700 shares during the period. Private Advisor Group LLC increased its holdings in Alcoa Corp. by 2.3% during the 2nd quarter. Private Advisor Group LLC now owns 9,433 shares of the industrial products company’s stock worth $322,000 after acquiring an additional 208 shares during the period. Finally, Schroder Investment Management Group increased its holdings in Alcoa Corp. by 141.0% during the 2nd quarter. Schroder Investment Management Group now owns 1,530,736 shares of the industrial products company’s stock worth $50,789,000 after acquiring an additional 895,449 shares during the period.
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A number of research firms recently weighed in on AA. BMO Capital Markets reaffirmed a “buy” rating and set a $45.00 target price on shares of Alcoa Corp. in a report on Friday, June 2nd. Morgan Stanley lowered shares of Alcoa Corp. from a “top pick” rating to a “buy” rating and upped their target price for the stock from $43.00 to $47.00 in a report on Tuesday, June 27th. They noted that the move was a valuation call. Deutsche Bank AG reaffirmed a “hold” rating and set a $44.00 target price on shares of Alcoa Corp. in a report on Wednesday, August 9th. Citigroup Inc. reissued a “buy” rating and issued a $45.00 price target on shares of Alcoa Corp. in a report on Saturday, July 22nd. Finally, Zacks Investment Research raised shares of Alcoa Corp. from a “hold” rating to a “strong-buy” rating and set a $51.00 price target on the stock in a report on Wednesday, September 6th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $40.07.
Shares of Alcoa Corp. (NYSE:AA) opened at 44.79 on Friday. The firm’s 50-day moving average is $44.58 and its 200 day moving average is $39.77. The stock has a market cap of $8.26 billion and a PE ratio of 50.96. Alcoa Corp. has a 12 month low of $20.00 and a 12 month high of $45.20.
Alcoa Corp. (NYSE:AA) last issued its earnings results on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.88 billion. Alcoa Corp. had a net margin of 1.63% and a return on equity of 3.29%. The business’s revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 earnings per share. On average, equities analysts predict that Alcoa Corp. will post $2.92 EPS for the current year.
Alcoa Corp. Profile
Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.
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