Alpine Group USVI LLC Purchases New Shares in Alcoa Corp (NYSE:AA)

Alpine Group USVI LLC purchased a new stake in shares of Alcoa Corp (NYSE:AA) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 105,000 shares of the industrial products company’s stock, valued at approximately $2,107,000. Alcoa accounts for about 0.5% of Alpine Group USVI LLC’s holdings, making the stock its 24th largest holding. Alpine Group USVI LLC owned approximately 0.06% of Alcoa at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new position in Alcoa in the 2nd quarter valued at $25,000. TRUE Private Wealth Advisors bought a new position in Alcoa in the 2nd quarter valued at $30,000. Cerebellum GP LLC bought a new position in Alcoa in the 3rd quarter valued at $127,000. Quantamental Technologies LLC bought a new position in Alcoa in the 2nd quarter valued at $74,000. Finally, Van ECK Associates Corp grew its position in Alcoa by 24.8% in the 2nd quarter. Van ECK Associates Corp now owns 4,538 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 901 shares during the last quarter.

Several equities analysts have commented on AA shares. B. Riley cut their price objective on Alcoa from $34.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th. Goldman Sachs Group raised Alcoa from a “neutral” rating to a “buy” rating in a research report on Monday, September 23rd. Macquarie downgraded Alcoa from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $34.00 to $25.00 in a research report on Tuesday, July 9th. BMO Capital Markets set a $35.00 price objective on Alcoa and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. cut their price objective on Alcoa from $44.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Alcoa currently has an average rating of “Buy” and an average price target of $28.33.

Shares of AA traded up $0.59 during midday trading on Friday, reaching $19.28. 5,985,390 shares of the stock were exchanged, compared to its average volume of 3,621,094. Alcoa Corp has a 52 week low of $16.46 and a 52 week high of $40.68. The company has a current ratio of 1.51, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $19.71 and its two-hundred day moving average is $22.83. The company has a market capitalization of $3.43 billion, a P/E ratio of 5.39 and a beta of 1.47.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, July 17th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.33. Alcoa had a positive return on equity of 2.78% and a negative net margin of 4.92%. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the company earned $1.52 EPS. The business’s revenue was down 24.3% compared to the same quarter last year. On average, sell-side analysts expect that Alcoa Corp will post -0.41 EPS for the current year.

Alcoa Profile

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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