Alcoa Corp (NYSE:AA) Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its stake in Alcoa Corp (NYSE:AA) by 0.8% during the first quarter, Holdings Channel reports. The firm owned 140,670 shares of the industrial products company’s stock after selling 1,192 shares during the period. First Trust Advisors LP’s holdings in Alcoa were worth $3,961,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AA. BlackRock Inc. grew its holdings in Alcoa by 3.7% during the 4th quarter. BlackRock Inc. now owns 9,525,897 shares of the industrial products company’s stock worth $253,197,000 after acquiring an additional 340,639 shares in the last quarter. Norges Bank bought a new position in Alcoa during the 4th quarter worth about $210,497,000. Dimensional Fund Advisors LP grew its holdings in Alcoa by 9.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,704,529 shares of the industrial products company’s stock worth $125,053,000 after acquiring an additional 393,862 shares in the last quarter. Geode Capital Management LLC grew its holdings in Alcoa by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,912,090 shares of the industrial products company’s stock worth $50,823,000 after acquiring an additional 40,522 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Alcoa by 0.6% during the 4th quarter. Northern Trust Corp now owns 1,716,216 shares of the industrial products company’s stock worth $45,617,000 after acquiring an additional 9,756 shares in the last quarter.

AA has been the subject of several analyst reports. ValuEngine lowered shares of Alcoa from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 7th. Zacks Investment Research lowered shares of Alcoa from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 23rd. Jefferies Financial Group set a $36.00 price target on shares of Alcoa and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Credit Suisse Group lowered shares of Alcoa from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $40.00 to $31.00 in a research report on Tuesday, April 2nd. Finally, Bank of America lowered shares of Alcoa from a “buy” rating to a “neutral” rating and decreased their price target for the company from $45.00 to $31.00 in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $40.75.

Shares of Alcoa stock opened at $21.80 on Friday. The company has a market capitalization of $3.93 billion, a P/E ratio of 8.21, a P/E/G ratio of 5.22 and a beta of 1.30. The company has a quick ratio of 0.83, a current ratio of 1.47 and a debt-to-equity ratio of 0.25. Alcoa Corp has a 52 week low of $20.82 and a 52 week high of $48.87.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.06). The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Alcoa had a negative net margin of 0.94% and a positive return on equity of 6.75%. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. Analysts expect that Alcoa Corp will post 1.01 EPS for the current fiscal year.

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About Alcoa

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; and 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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