B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund lessened its stake in Alcoa Corp (NYSE:AA) by 55.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,973 shares of the industrial products company’s stock after selling 13,793 shares during the quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Alcoa were worth $514,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Lingohr & Partner Asset Management GmbH acquired a new position in Alcoa during the second quarter worth about $1,503,000. Banco de Sabadell S.A raised its stake in Alcoa by 24.1% during the second quarter. Banco de Sabadell S.A now owns 8,999 shares of the industrial products company’s stock worth $420,000 after acquiring an additional 1,749 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Alcoa by 87.8% during the second quarter. Tower Research Capital LLC TRC now owns 9,629 shares of the industrial products company’s stock worth $451,000 after acquiring an additional 4,503 shares in the last quarter. Vident Investment Advisory LLC raised its stake in Alcoa by 5.3% during the second quarter. Vident Investment Advisory LLC now owns 74,559 shares of the industrial products company’s stock worth $3,495,000 after acquiring an additional 3,722 shares in the last quarter. Finally, Sterling Capital Management LLC acquired a new position in Alcoa during the second quarter worth about $2,344,000.
AA has been the subject of several research analyst reports. Deutsche Bank set a $70.00 target price on Alcoa and gave the stock a “buy” rating in a research note on Wednesday, May 30th. ValuEngine downgraded Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, June 16th. Zacks Investment Research raised Alcoa from a “hold” rating to a “strong-buy” rating and set a $53.00 price objective for the company in a research note on Tuesday, June 19th. B. Riley began coverage on Alcoa in a research note on Thursday, June 21st. They issued a “neutral” rating and a $47.00 price objective for the company. Finally, BMO Capital Markets lowered their price objective on Alcoa from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Alcoa presently has an average rating of “Buy” and an average target price of $61.24.
Shares of AA stock opened at $42.79 on Friday. Alcoa Corp has a one year low of $40.03 and a one year high of $62.35. The company has a market capitalization of $7.84 billion, a P/E ratio of 14.22, a P/E/G ratio of 2.26 and a beta of -0.23. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27.
Alcoa (NYSE:AA) last announced its earnings results on Wednesday, July 18th. The industrial products company reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.19. Alcoa had a return on equity of 10.30% and a net margin of 1.11%. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the prior year, the business posted $0.62 earnings per share. The firm’s revenue was up 25.2% on a year-over-year basis. sell-side analysts anticipate that Alcoa Corp will post 4.1 EPS for the current fiscal year.
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.
See Also: Fundamental Analysis and Choosing Stocks
Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.