Private Advisor Group LLC lowered its holdings in Alcoa Corp (NYSE:AA) by 19.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,615 shares of the industrial products company’s stock after selling 1,818 shares during the quarter. Private Advisor Group LLC’s holdings in Alcoa were worth $358,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AA. Huntington National Bank acquired a new stake in shares of Alcoa during the 3rd quarter worth approximately $112,000. Pacer Advisors Inc. lifted its position in shares of Alcoa by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 4,488 shares of the industrial products company’s stock worth $147,000 after buying an additional 348 shares during the period. Van ECK Associates Corp lifted its position in shares of Alcoa by 3.8% during the 2nd quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock worth $189,000 after buying an additional 213 shares during the period. Global X Management Co. LLC lifted its position in shares of Alcoa by 220.6% during the 2nd quarter. Global X Management Co. LLC now owns 5,803 shares of the industrial products company’s stock worth $189,000 after buying an additional 3,993 shares during the period. Finally, Lincoln National Corp lifted its position in shares of Alcoa by 3.9% during the 2nd quarter. Lincoln National Corp now owns 6,154 shares of the industrial products company’s stock worth $201,000 after buying an additional 233 shares during the period.
Several equities analysts recently commented on the company. J P Morgan Chase & Co restated a “buy” rating and set a $60.00 target price on shares of Alcoa in a research report on Thursday, October 19th. Zacks Investment Research downgraded Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Berenberg Bank downgraded Alcoa from a “buy” rating to a “hold” rating and raised their target price for the stock from $41.00 to $44.00 in a research report on Friday, September 22nd. Gabelli downgraded Alcoa from a “buy” rating to a “hold” rating and raised their target price for the stock from $57.00 to $60.00 in a research report on Wednesday, October 4th. Finally, BMO Capital Markets raised their target price on Alcoa from $45.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 13th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $49.88.
Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.05). The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.95 billion. Alcoa had a net margin of 2.61% and a return on equity of 4.90%. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS. equities research analysts expect that Alcoa Corp will post 3.2 earnings per share for the current year.
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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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