Personal Capital Advisors Corp lifted its position in shares of Alcoa Corp (NYSE:AA) by 51.8% in the third quarter, HoldingsChannel.com reports. The firm owned 13,634 shares of the industrial products company’s stock after purchasing an additional 4,653 shares during the period. Personal Capital Advisors Corp’s holdings in Alcoa were worth $551,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Madison Investment Holdings Inc. raised its stake in Alcoa by 48.0% in the second quarter. Madison Investment Holdings Inc. now owns 226,200 shares of the industrial products company’s stock worth $10,604,000 after buying an additional 73,400 shares in the last quarter. Trellus Management Company LLC bought a new position in Alcoa in the second quarter worth about $938,000. CIBC World Markets Inc. raised its stake in Alcoa by 258.6% in the second quarter. CIBC World Markets Inc. now owns 33,257 shares of the industrial products company’s stock worth $1,559,000 after buying an additional 23,983 shares in the last quarter. Swiss National Bank raised its stake in Alcoa by 0.9% in the second quarter. Swiss National Bank now owns 324,094 shares of the industrial products company’s stock worth $15,194,000 after buying an additional 3,000 shares in the last quarter. Finally, ARP Americas LP bought a new position in Alcoa in the second quarter worth about $558,000.
A number of equities analysts recently issued reports on AA shares. ValuEngine downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, June 16th. Zacks Investment Research raised shares of Alcoa from a “hold” rating to a “strong-buy” rating and set a $53.00 price target for the company in a research note on Tuesday, June 19th. B. Riley started coverage on shares of Alcoa in a research note on Thursday, June 21st. They issued a “neutral” rating and a $47.00 price target for the company. BMO Capital Markets decreased their price target on shares of Alcoa from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday, July 19th. Finally, Jefferies Financial Group set a $65.00 price target on shares of Alcoa and gave the stock a “buy” rating in a research note on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $61.13.
Shares of NYSE AA opened at $35.67 on Friday. Alcoa Corp has a fifty-two week low of $35.13 and a fifty-two week high of $62.35. The company has a market cap of $7.53 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 2.11 and a beta of -0.08. The company has a quick ratio of 0.87, a current ratio of 1.42 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 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.19. Alcoa had a net margin of 1.11% and a return on equity of 10.30%. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter last year, the firm earned $0.62 earnings per share. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. On average, sell-side analysts anticipate that Alcoa Corp will post 4.22 EPS for the current 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.
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