Monaco Asset Management SAM Acquires 160,000 Shares of Alcoa $AA

Monaco Asset Management SAM increased its holdings in Alcoa (NYSE:AA) by 177.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,000 shares of the industrial products company’s stock after acquiring an additional 160,000 shares during the quarter. Alcoa comprises about 0.5% of Monaco Asset Management SAM’s investment portfolio, making the stock its 12th biggest holding. Monaco Asset Management SAM owned about 0.10% of Alcoa worth $8,222,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AA. Persistent Asset Partners Ltd increased its stake in shares of Alcoa by 20.8% during the third quarter. Persistent Asset Partners Ltd now owns 47,427 shares of the industrial products company’s stock valued at $1,560,000 after purchasing an additional 8,182 shares in the last quarter. Beirne Wealth Consulting Services LLC bought a new position in Alcoa during the 3rd quarter valued at approximately $486,000. GSA Capital Partners LLP purchased a new position in Alcoa during the third quarter valued at $441,000. State of New Jersey Common Pension Fund D raised its stake in Alcoa by 8.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 96,964 shares of the industrial products company’s stock valued at $3,189,000 after buying an additional 7,327 shares during the last quarter. Finally, Aberdeen Group plc boosted its holdings in Alcoa by 116.8% in the third quarter. Aberdeen Group plc now owns 23,145 shares of the industrial products company’s stock worth $783,000 after acquiring an additional 12,470 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AA shares. B. Riley Financial reissued a “buy” rating on shares of Alcoa in a research note on Friday, January 23rd. Zacks Research downgraded shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 13th. Wells Fargo & Company dropped their target price on shares of Alcoa from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. UBS Group raised their price target on shares of Alcoa from $42.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Finally, Wall Street Zen raised Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.25.

Alcoa Stock Up 1.1%

AA opened at $60.38 on Friday. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 13.66 and a beta of 1.91. The firm has a 50 day moving average price of $58.32 and a 200-day moving average price of $43.43. Alcoa has a twelve month low of $21.53 and a twelve month high of $66.95. The company has a quick ratio of 0.87, a current ratio of 1.45 and a debt-to-equity ratio of 0.40.

Alcoa (NYSE:AA) last posted its earnings results on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.31. The business had revenue of ($1,130.00) million during the quarter, compared to the consensus estimate of $3.28 billion. Alcoa had a net margin of 9.12% and a return on equity of 16.18%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 EPS. Equities research analysts forecast that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.