Sterling Capital Management LLC Buys Shares of 50,000 Alcoa Corp (AA)

Sterling Capital Management LLC bought a new stake in shares of Alcoa Corp (NYSE:AA) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 50,000 shares of the industrial products company’s stock, valued at approximately $2,344,000.

Other institutional investors have also made changes to their positions in the company. Natixis grew its stake in Alcoa by 1,432.6% in the second quarter. Natixis now owns 625,878 shares of the industrial products company’s stock worth $29,341,000 after purchasing an additional 585,040 shares in the last quarter. Flinton Capital Management LLC grew its stake in Alcoa by 20.0% in the second quarter. Flinton Capital Management LLC now owns 122,500 shares of the industrial products company’s stock worth $5,743,000 after purchasing an additional 20,440 shares in the last quarter. Glen Harbor Capital Management LLC grew its stake in Alcoa by 20.0% in the second quarter. Glen Harbor Capital Management LLC now owns 70,000 shares of the industrial products company’s stock worth $3,282,000 after purchasing an additional 11,680 shares in the last quarter. OppenheimerFunds Inc. grew its stake in Alcoa by 197.8% in the second quarter. OppenheimerFunds Inc. now owns 725,689 shares of the industrial products company’s stock worth $34,020,000 after purchasing an additional 481,971 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Alcoa by 14.7% in the second quarter. Renaissance Technologies LLC now owns 2,086,096 shares of the industrial products company’s stock worth $97,796,000 after purchasing an additional 267,900 shares in the last quarter.

AA has been the topic of a number of recent research reports. Deutsche Bank cut their target price on shares of Alcoa from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, July 24th. Morgan Stanley cut their target price on shares of Alcoa from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, July 23rd. ValuEngine raised shares of Alcoa from a “hold” rating to a “buy” rating in a report on Thursday, July 5th. Deutsche Bank set a $70.00 target price on shares of Alcoa and gave the stock a “buy” rating in a report on Wednesday, May 30th. Finally, Jefferies Financial Group set a $65.00 target price on shares of Alcoa and gave the stock a “buy” rating in a report on Thursday, July 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $61.24.

AA opened at $42.79 on Friday. The company has a market cap of $7.84 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 2.26 and a beta of -0.23. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27. Alcoa Corp has a twelve month low of $40.03 and a twelve month high of $62.35.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, July 18th. The industrial products company reported $1.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.19. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.49 billion. Alcoa had a return on equity of 10.30% and a net margin of 1.11%. The business’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. analysts anticipate that Alcoa Corp will post 4.1 earnings per share for the current year.

Alcoa Profile

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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