Emerald Acquisition Ltd. acquired a new position in Alcoa Inc. (NYSE:AA) during the second quarter, Holdings Channel reports. The institutional investor acquired 233,626 shares of the company’s stock, valued at approximately $2,164,000.
A number of other institutional investors have also added to or reduced their stakes in AA. Bollard Group LLC boosted its stake in shares of Alcoa by 0.3% in the second quarter. Bollard Group LLC now owns 37,679 shares of the company’s stock worth $349,000 after buying an additional 120 shares in the last quarter. Hollencrest Securities LLC boosted its stake in shares of Alcoa by 0.5% in the second quarter. Hollencrest Securities LLC now owns 41,420 shares of the company’s stock worth $384,000 after buying an additional 204 shares in the last quarter. Confluence Investment Management LLC boosted its stake in shares of Alcoa by 0.9% in the second quarter. Confluence Investment Management LLC now owns 29,368 shares of the company’s stock worth $272,000 after buying an additional 267 shares in the last quarter. Courier Capital Corp boosted its stake in shares of Alcoa by 1.0% in the second quarter. Courier Capital Corp now owns 35,930 shares of the company’s stock worth $333,000 after buying an additional 360 shares in the last quarter. Finally, Private Wealth Advisors Inc. boosted its stake in shares of Alcoa by 1.9% in the second quarter. Private Wealth Advisors Inc. now owns 22,046 shares of the company’s stock worth $204,000 after buying an additional 416 shares in the last quarter.
Alcoa Inc. (NYSE:AA) traded up 0.860% during midday trading on Thursday, reaching $9.965. The company had a trading volume of 23,060,112 shares. The company’s 50-day moving average is $9.99 and its 200 day moving average is $9.92. The company’s market cap is $13.11 billion. Alcoa Inc. has a 52-week low of $6.14 and a 52-week high of $11.50.
Alcoa (NYSE:AA) last released its earnings results on Monday, July 11th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. Alcoa had a positive return on equity of 3.44% and a negative net margin of 1.45%. The firm had revenue of $5.30 billion for the quarter. During the same period in the previous year, the company posted $0.19 EPS. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Alcoa Inc. will post $0.44 EPS for the current year.
A number of equities research analysts recently weighed in on the stock. Argus restated a “hold” rating on shares of Alcoa in a research note on Friday, July 15th. Morgan Stanley restated a “buy” rating and set a $12.00 price objective on shares of Alcoa in a research note on Tuesday, August 16th. Bank of America Corp. restated a “buy” rating on shares of Alcoa in a research note on Friday, June 17th. Seaport Global Securities assumed coverage on shares of Alcoa in a research note on Friday, September 9th. They set a “neutral” rating and a $11.00 price objective on the stock. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Alcoa in a research note on Tuesday, July 12th. Ten equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $11.29.
In other Alcoa news, Director Ulrich Schmidt purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were bought at an average price of $10.40 per share, with a total value of $52,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $104,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Alcoa Company Profile
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
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