Connor Clark & Lunn Investment Management Ltd. Purchases New Position in Alcoa Corp (AA)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Alcoa Corp (NYSE:AA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 37,300 shares of the industrial products company’s stock, valued at approximately $991,000.

Other institutional investors have also made changes to their positions in the company. Cerebellum GP LLC increased its stake in Alcoa by 8.1% during the 4th quarter. Cerebellum GP LLC now owns 4,798 shares of the industrial products company’s stock worth $128,000 after buying an additional 361 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Alcoa by 2.0% during the 4th quarter. State of Alaska Department of Revenue now owns 19,844 shares of the industrial products company’s stock worth $527,000 after buying an additional 380 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Alcoa by 0.4% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 239,433 shares of the industrial products company’s stock worth $6,364,000 after buying an additional 920 shares in the last quarter. Chartwell Investment Partners LLC increased its stake in Alcoa by 1.9% during the 4th quarter. Chartwell Investment Partners LLC now owns 63,630 shares of the industrial products company’s stock worth $1,691,000 after buying an additional 1,158 shares in the last quarter. Finally, We Are One Seven LLC purchased a new stake in Alcoa during the 4th quarter worth approximately $35,000.

Several equities research analysts have commented on AA shares. Credit Suisse Group cut their price objective on Alcoa from $58.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, December 7th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $57.00 price objective on shares of Alcoa in a research note on Friday, January 11th. ValuEngine upgraded Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. Berenberg Bank set a $42.00 price target on Alcoa and gave the company a “buy” rating in a research report on Monday, January 14th. Finally, Zacks Investment Research upgraded Alcoa from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $53.27.

AA opened at $27.84 on Friday. Alcoa Corp has a one year low of $25.01 and a one year high of $62.35. The company has a market capitalization of $5.16 billion, a P/E ratio of 7.78, a price-to-earnings-growth ratio of 3.74 and a beta of 1.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.85 and a current ratio of 1.42.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, January 16th. The industrial products company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.16. Alcoa had a return on equity of 9.21% and a net margin of 1.69%. The firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the prior year, the firm posted $1.04 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts anticipate that Alcoa Corp will post 1.89 EPS for the current year.

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Alcoa Profile

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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