Alcoa Corp. (AA) Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP cut its stake in Alcoa Corp. (NYSE:AA) by 45.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,873 shares of the industrial products company’s stock after selling 58,032 shares during the quarter. Engineers Gate Manager LP’s holdings in Alcoa Corp. were worth $2,249,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blockhouse Capital Management LP acquired a new position in shares of Alcoa Corp. in the first quarter valued at about $6,890,000. State of Wisconsin Investment Board grew its stake in shares of Alcoa Corp. by 9.5% in the second quarter. State of Wisconsin Investment Board now owns 146,169 shares of the industrial products company’s stock valued at $4,772,000 after acquiring an additional 12,650 shares in the last quarter. Bank of Montreal Can grew its stake in shares of 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 acquiring an additional 182,736 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Alcoa Corp. in the first quarter valued at about $775,000. Finally, Private Advisor Group LLC grew 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 acquiring an additional 1,294 shares in the last quarter.

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Alcoa Corp. (AA) opened at 42.61 on Friday. The company has a market cap of $7.85 billion and a price-to-earnings ratio of 48.48. Alcoa Corp. has a one year low of $20.53 and a one year high of $45.22. The company has a 50-day moving average of $39.44 and a 200-day moving average of $34.93.

Alcoa Corp. (NYSE:AA) last issued its earnings results on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.88 billion. Alcoa Corp. had a return on equity of 3.29% and a net margin of 1.63%. Alcoa Corp.’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Equities research analysts expect that Alcoa Corp. will post $2.86 EPS for the current fiscal year.

AA has been the topic of several research reports. Citigroup Inc. restated a “buy” rating and issued a $45.00 price target on shares of Alcoa Corp. in a research note on Friday, May 19th. BMO Capital Markets restated a “buy” rating and issued a $45.00 price target on shares of Alcoa Corp. in a research note on Friday, June 2nd. Deutsche Bank AG restated a “hold” rating and issued a $44.00 price target on shares of Alcoa Corp. in a research note on Wednesday, August 9th. Morgan Stanley downgraded shares of Alcoa Corp. from a “top pick” rating to a “buy” rating and upped their price target 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. Finally, Macquarie initiated coverage on shares of Alcoa Corp. in a research note on Thursday. They issued an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $41.57.

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

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