Two Sigma Securities LLC bought a new stake in shares of Alcoa Corp. (NYSE:AA) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,441 shares of the industrial products company’s stock, valued at approximately $841,000.
Several other large investors also recently made changes to their positions in AA. Private Advisor Group LLC increased its stake in shares of Alcoa Corp. by 16.3% in the first quarter. Private Advisor Group LLC now owns 9,225 shares of the industrial products company’s stock valued at $312,000 after buying an additional 1,294 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Alcoa Corp. by 21.2% in the first quarter. Nordea Investment Management AB now owns 25,648 shares of the industrial products company’s stock valued at $882,000 after buying an additional 4,494 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Alcoa Corp. by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock valued at $142,000 after buying an additional 132 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Alcoa Corp. during the first quarter valued at about $1,262,000. Finally, Oxford Asset Management acquired a new stake in shares of Alcoa Corp. during the first quarter valued at about $499,000.
Alcoa Corp. (NYSE AA) traded down 2.41% during mid-day trading on Friday, reaching $30.00. The company’s stock had a trading volume of 4,751,776 shares. The stock has a market cap of $5.53 billion and a PE ratio of 161.29. Alcoa Corp. has a 52-week low of $20.00 and a 52-week high of $39.78. The company has a 50 day moving average of $32.44 and a 200-day moving average of $33.27.
Alcoa Corp. (NYSE:AA) last issued its quarterly earnings results on Monday, April 24th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.15. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.96 billion. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 EPS. Equities analysts forecast that Alcoa Corp. will post $2.81 earnings per share for the current year.
Several equities research analysts recently issued reports on the company. BMO Capital Markets raised Alcoa Corp. from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $35.00 to $45.00 in a research note on Friday, March 31st. Zacks Investment Research downgraded Alcoa Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. Berenberg Bank raised Alcoa Corp. from a “hold” rating to a “buy” rating and raised their price target for the stock from $27.00 to $40.00 in a research note on Friday, March 24th. Vetr raised Alcoa Corp. from a “hold” rating to a “buy” rating and set a $37.71 price target for the company in a research note on Monday, February 20th. Finally, Clarkson Capital started coverage on Alcoa Corp. in a research note on Monday, May 22nd. They set a “buy” rating and a $43.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $36.50.
Alcoa Corp. Company 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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