LPL Financial LLC Boosts Holdings in Alcoa Corp (AA)

LPL Financial LLC boosted its position in shares of Alcoa Corp (NYSE:AA) by 64.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,434 shares of the industrial products company’s stock after buying an additional 17,029 shares during the period. LPL Financial LLC’s holdings in Alcoa were worth $2,340,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AA. Alliancebernstein L.P. increased its stake in Alcoa by 207.1% during the 4th quarter. Alliancebernstein L.P. now owns 5,279,091 shares of the industrial products company’s stock worth $284,385,000 after buying an additional 3,559,958 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Alcoa during the 3rd quarter worth approximately $99,757,000. Dimensional Fund Advisors LP increased its stake in Alcoa by 88.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,700,684 shares of the industrial products company’s stock worth $125,898,000 after buying an additional 1,264,324 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in Alcoa during the 4th quarter worth approximately $35,651,000. Finally, BlackRock Inc. increased its stake in Alcoa by 7.0% during the 4th quarter. BlackRock Inc. now owns 8,761,507 shares of the industrial products company’s stock worth $471,984,000 after buying an additional 570,178 shares in the last quarter.

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In related news, VP William F. Oplinger sold 229,475 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $52.86, for a total value of $12,130,048.50. Following the transaction, the vice president now directly owns 108,915 shares in the company, valued at $5,757,246.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Tomas Mar Sigurdsson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $51.37, for a total value of $513,700.00. Following the completion of the transaction, the chief operating officer now owns 46,832 shares in the company, valued at $2,405,759.84. The disclosure for this sale can be found here.

Several research analysts have recently weighed in on the company. Credit Suisse Group upgraded Alcoa from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $42.00 to $61.00 in a report on Wednesday, December 20th. Zacks Investment Research upgraded Alcoa from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a report on Monday, January 22nd. BMO Capital Markets restated a “buy” rating and set a $65.00 target price on shares of Alcoa in a report on Friday, December 22nd. JPMorgan Chase boosted their target price on Alcoa from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, February 5th. Finally, Citigroup boosted their target price on Alcoa to $65.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Alcoa presently has an average rating of “Buy” and a consensus price target of $58.64.

NYSE:AA opened at $44.96 on Friday. Alcoa Corp has a one year low of $29.55 and a one year high of $57.50. The company has a market capitalization of $8,370.47, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 1.46 and a beta of 0.10. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.30.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, January 17th. The industrial products company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.19). Alcoa had a net margin of 1.86% and a return on equity of 7.20%. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s revenue was up 25.1% on a year-over-year basis. analysts anticipate that Alcoa Corp will post 3.57 EPS for the current year.

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Alcoa 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.

Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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