Cubist Systematic Strategies LLC Purchases 10,978 Shares of Alcoa Corp (AA)

Cubist Systematic Strategies LLC lifted its position in shares of Alcoa Corp (NYSE:AA) by 88.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 23,459 shares of the industrial products company’s stock after acquiring an additional 10,978 shares during the period. Cubist Systematic Strategies LLC’s holdings in Alcoa were worth $1,094,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank bought a new position in shares of Alcoa during the third quarter worth about $112,000. Pacer Advisors Inc. grew its position in shares of Alcoa by 8.4% during the second quarter. Pacer Advisors Inc. now owns 4,488 shares of the industrial products company’s stock worth $147,000 after acquiring an additional 348 shares during the last quarter. Van ECK Associates Corp grew its position in Alcoa by 3.8% in the 2nd quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock valued at $189,000 after buying an additional 213 shares in the last quarter. Global X Management Co. LLC grew its position in Alcoa by 220.6% in the 2nd quarter. Global X Management Co. LLC now owns 5,803 shares of the industrial products company’s stock valued at $189,000 after buying an additional 3,993 shares in the last quarter. Finally, Lincoln National Corp grew its position in Alcoa by 3.9% in the 2nd quarter. Lincoln National Corp now owns 6,154 shares of the industrial products company’s stock valued at $201,000 after buying an additional 233 shares in the last quarter.

Shares of Alcoa Corp (NYSE:AA) opened at $46.52 on Wednesday. Alcoa Corp has a 1-year low of $28.01 and a 1-year high of $50.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 0.90. The firm has a market cap of $8,246.47 and a PE ratio of 21.12.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.05). Alcoa had a net margin of 2.61% and a return on equity of 4.90%. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the company posted $0.32 earnings per share. Alcoa’s revenue was up 27.3% compared to the same quarter last year. equities research analysts anticipate that Alcoa Corp will post 3.19 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on AA shares. Deutsche Bank upgraded shares of Alcoa from a “hold” rating to a “buy” rating and increased their target price for the company from $44.00 to $60.00 in a research report on Tuesday, September 12th. Citigroup set a $55.00 target price on shares of Alcoa and gave the company a “buy” rating in a research report on Wednesday, November 29th. BMO Capital Markets reiterated a “buy” rating and issued a $60.00 target price on shares of Alcoa in a research report on Wednesday, November 15th. Morgan Stanley increased their target price on shares of Alcoa from $47.00 to $54.00 and gave the company a “top pick” rating in a research report on Monday, September 25th. Finally, Zacks Investment Research upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Thursday, September 14th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Alcoa has an average rating of “Buy” and a consensus price target of $51.47.

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About Alcoa

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 (NYSE:AA)

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