BW Gestao de Investimentos Ltda. Acquires New Holdings in Alcoa Corp (AA)

BW Gestao de Investimentos Ltda. acquired a new stake in shares of Alcoa Corp (NYSE:AA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 362,825 shares of the industrial products company’s stock, valued at approximately $11,846,000. Alcoa Corp makes up approximately 3.2% of BW Gestao de Investimentos Ltda.’s portfolio, making the stock its 5th biggest holding. BW Gestao de Investimentos Ltda. owned about 0.20% of Alcoa Corp as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in shares of Alcoa Corp by 3.3% during the first quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock valued at $142,000 after acquiring an additional 132 shares in the last quarter. NEXT Financial Group Inc increased its holdings in shares of Alcoa Corp by 2.4% during the second quarter. NEXT Financial Group Inc now owns 4,462 shares of the industrial products company’s stock valued at $146,000 after acquiring an additional 104 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Alcoa Corp by 42.3% during the first quarter. Van ECK Associates Corp now owns 5,566 shares of the industrial products company’s stock valued at $191,000 after acquiring an additional 1,654 shares in the last quarter. Global X Management Co. LLC increased its holdings in shares of Alcoa Corp by 220.6% during the second quarter. Global X Management Co. LLC now owns 5,803 shares of the industrial products company’s stock valued at $189,000 after acquiring an additional 3,993 shares in the last quarter. Finally, AXA acquired a new position in shares of Alcoa Corp during the first quarter valued at about $206,000.

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Shares of Alcoa Corp (AA) traded up 1.15% during mid-day trading on Thursday, hitting $47.48. The company’s stock had a trading volume of 1,834,662 shares. Alcoa Corp has a 12-month low of $20.00 and a 12-month high of $49.30. The stock has a 50-day moving average of $46.01 and a 200-day moving average of $46.01. The company has a market cap of $8.75 billion and a PE ratio of 54.02.

Alcoa Corp (NYSE:AA) last released its earnings results on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Alcoa Corp had a return on equity of 3.29% and a net margin of 1.63%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the business posted $0.15 earnings per share. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, equities research analysts forecast that Alcoa Corp will post $3.08 EPS for the current year.

Several brokerages recently weighed in on AA. Gabelli downgraded shares of Alcoa Corp from a “buy” rating to a “hold” rating and increased their price target for the stock from $57.00 to $60.00 in a report on Wednesday, October 4th. Berenberg Bank downgraded shares of Alcoa Corp from a “buy” rating to a “hold” rating and increased their price target for the stock from $41.00 to $44.00 in a report on Friday, September 22nd. Macquarie reiterated a “buy” rating and issued a $62.00 price target (up previously from $55.00) on shares of Alcoa Corp in a report on Tuesday. Cowen and Company set a $51.00 price target on shares of Alcoa Corp and gave the stock a “hold” rating in a report on Wednesday. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $47.00 price target on shares of Alcoa Corp in a report on Wednesday, September 20th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $47.83.

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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Institutional Ownership by Quarter for Alcoa Corp (NYSE:AA)

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