Nisa Investment Advisors LLC reduced its stake in shares of Alcoa Corp. (NYSE:AA) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,402 shares of the industrial products company’s stock after selling 700 shares during the period. Nisa Investment Advisors LLC’s holdings in Alcoa Corp. were worth $571,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. NEXT Financial Group Inc raised its position in Alcoa Corp. by 2.4% in the second quarter. NEXT Financial Group Inc now owns 4,462 shares of the industrial products company’s stock valued at $146,000 after buying an additional 104 shares in the last quarter. Gateway Investment Advisers LLC raised its position in Alcoa Corp. by 0.4% in the second quarter. Gateway Investment Advisers LLC now owns 17,020 shares of the industrial products company’s stock valued at $556,000 after buying an additional 73 shares in the last quarter. Bank of Montreal Can raised its position in Alcoa Corp. by 18.2% in the second quarter. Bank of Montreal Can now owns 1,184,271 shares of the industrial products company’s stock valued at $38,666,000 after buying an additional 182,736 shares in the last quarter. Confluence Investment Management LLC bought a new position in Alcoa Corp. during the second quarter valued at $261,000. Finally, Heritage Investors Management Corp raised its position in Alcoa Corp. by 10.4% in the second quarter. Heritage Investors Management Corp now owns 89,452 shares of the industrial products company’s stock valued at $2,921,000 after buying an additional 8,437 shares in the last quarter.
Alcoa Corp. (NYSE:AA) traded down 0.686% on Thursday, reaching $38.355. 1,250,158 shares of the company were exchanged. The firm has a market capitalization of $7.07 billion and a PE ratio of 43.635. The stock has a 50 day moving average of $35.15 and a 200 day moving average of $34.35. Alcoa Corp. has a 12-month low of $20.53 and a 12-month high of $40.36. Alcoa Corp. also was the target of unusually large options trading activity on Tuesday. Stock investors acquired 20,670 call options on the company. This represents an increase of 456% compared to the typical daily volume of 3,715 call options.
Alcoa Corp. (NYSE:AA) last issued its earnings results on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. Alcoa Corp. had a net margin of 1.63% and a return on equity of 3.29%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 earnings per share. Equities analysts anticipate that Alcoa Corp. will post $2.80 EPS for the current year.
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Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Alcoa Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. BMO Capital Markets reiterated a “buy” rating and issued a $45.00 price objective on shares of Alcoa Corp. in a research note on Friday, June 2nd. Morgan Stanley lowered shares of Alcoa Corp. from a “top pick” rating to a “buy” rating and upped their price objective for the company from $43.00 to $47.00 in a research note on Tuesday, June 27th. They noted that the move was a valuation call. Deutsche Bank AG reiterated a “hold” rating and issued a $44.00 price objective on shares of Alcoa Corp. in a research note on Wednesday. Finally, Citigroup Inc. restated a “buy” rating and set a $45.00 price target on shares of Alcoa Corp. in a research note on Saturday, July 22nd. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Alcoa Corp. has an average rating of “Buy” and an average price target of $39.00.
About Alcoa Corp.
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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