Great West Life Assurance Co. Can lowered its stake in shares of Alcoa Corp (NYSE:AA) by 41.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,565 shares of the industrial products company’s stock after selling 41,830 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Alcoa were worth $2,798,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. boosted its position in Alcoa by 5.1% during the second quarter. BlackRock Inc. now owns 9,057,264 shares of the industrial products company’s stock worth $424,605,000 after purchasing an additional 437,832 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Alcoa by 14.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,479,257 shares of the industrial products company’s stock worth $163,101,000 after buying an additional 437,117 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Alcoa by 72.6% during the first quarter. Schroder Investment Management Group now owns 2,356,780 shares of the industrial products company’s stock worth $105,960,000 after buying an additional 991,403 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Alcoa by 8.1% during the first quarter. Millennium Management LLC now owns 1,768,611 shares of the industrial products company’s stock worth $79,517,000 after buying an additional 133,186 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Alcoa by 14.6% during the second quarter. Bank of New York Mellon Corp now owns 1,300,009 shares of the industrial products company’s stock worth $60,945,000 after buying an additional 165,692 shares during the last quarter.
Shares of NYSE AA opened at $42.79 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.42 and a quick ratio of 0.87. The firm has a market capitalization of $7.84 billion, a P/E ratio of 10.38, a PEG ratio of 2.26 and a beta of -0.23. Alcoa Corp has a one year low of $40.03 and a one year high of $62.35.
Alcoa (NYSE:AA) last issued its earnings results on Wednesday, July 18th. The industrial products company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.19. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.49 billion. Alcoa had a return on equity of 10.30% and a net margin of 1.11%. Alcoa’s revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. equities analysts anticipate that Alcoa Corp will post 4.1 EPS for the current year.
A number of research analysts have recently commented on AA shares. Deutsche Bank set a $70.00 price target on Alcoa and gave the stock a “buy” rating in a report on Wednesday, May 30th. ValuEngine lowered Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, June 16th. Zacks Investment Research upgraded Alcoa from a “hold” rating to a “strong-buy” rating and set a $53.00 price target for the company in a report on Tuesday, June 19th. B. Riley started coverage on Alcoa in a report on Thursday, June 21st. They set a “neutral” rating and a $47.00 price target for the company. Finally, BMO Capital Markets cut their price target on Alcoa from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Thursday, July 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $61.24.
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.
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