Moors & Cabot Inc. Has $358,000 Holdings in Alcoa Corp (AA)

Moors & Cabot Inc. trimmed its holdings in shares of Alcoa Corp (NYSE:AA) by 7.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,915 shares of the industrial products company’s stock after selling 938 shares during the period. Moors & Cabot Inc.’s holdings in Alcoa Corp were worth $358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. boosted 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 worth $142,000 after purchasing an additional 132 shares during the period. NEXT Financial Group Inc boosted 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 worth $146,000 after purchasing an additional 104 shares during the period. Global X Management Co. LLC boosted 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 worth $189,000 after purchasing an additional 3,993 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Alcoa Corp by 3.8% during the second quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock worth $189,000 after purchasing an additional 213 shares during the period. Finally, Lincoln National Corp boosted its holdings in shares of Alcoa Corp by 3.9% during the second quarter. Lincoln National Corp now owns 6,154 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 233 shares during the period.

A number of analysts have recently weighed in on the stock. Clarkson Capital reiterated a “buy” rating on shares of Alcoa Corp in a report on Thursday, July 20th. Cowen and Company set a $51.00 target price on shares of Alcoa Corp and gave the stock a “hold” rating in a report on Wednesday. BMO Capital Markets set a $45.00 target price on shares of Alcoa Corp and gave the stock a “buy” rating in a report on Saturday, August 5th. Citigroup Inc. reiterated a “buy” rating and set a $53.00 target price on shares of Alcoa Corp in a report on Friday, September 29th. Finally, Gabelli lowered shares of Alcoa Corp from a “buy” rating to a “hold” rating and increased their target price for the stock from $57.00 to $60.00 in a report on Wednesday, October 4th. 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 stock presently has an average rating of “Buy” and an average price target of $47.83.

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Shares of Alcoa Corp (NYSE AA) traded up 0.81% during midday trading on Thursday, hitting $47.32. 441,541 shares of the company traded hands. The stock has a market capitalization of $8.72 billion and a P/E ratio of 53.83. Alcoa Corp has a 52 week low of $20.00 and a 52 week high of $49.30. The company has a 50-day moving average price of $46.01 and a 200-day moving average price of $46.01.

Alcoa Corp (NYSE:AA) last issued its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Alcoa Corp had a net margin of 1.63% and a return on equity of 3.29%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the business posted $0.15 EPS. Alcoa Corp’s revenue for the quarter was up 23.1% compared to the same quarter last year. Analysts anticipate that Alcoa Corp will post $3.06 earnings per share for the current fiscal year.

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.

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

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