Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Alcoa Co. (NYSE:AA) by 36,800,000.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 368,001 shares of the industrial products company’s stock after purchasing an additional 368,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.20% of Alcoa worth $8,482,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in shares of Alcoa by 56.7% in the third quarter. Van ECK Associates Corp now owns 3,262 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 1,180 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Alcoa by 52.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,228 shares of the industrial products company’s stock valued at $121,000 after buying an additional 1,789 shares during the period. Profund Advisors LLC acquired a new position in shares of Alcoa in the 3rd quarter valued at approximately $153,000. Nisa Investment Advisors LLC lifted its holdings in shares of Alcoa by 57.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 8,950 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 3,250 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Alcoa during the 4th quarter worth approximately $225,000.
Several research firms have weighed in on AA. Deutsche Bank Aktiengesellschaft upgraded Alcoa from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Tuesday, March 23rd. Morgan Stanley upgraded Alcoa from an “equal weight” rating to an “overweight” rating and set a $43.00 price objective for the company in a research report on Monday, March 29th. B. Riley lifted their target price on Alcoa from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, January 21st. Zacks Investment Research raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Friday, March 26th. Finally, The Goldman Sachs Group raised shares of Alcoa from a “sell” rating to a “buy” rating and lifted their price target for the company from $19.00 to $32.00 in a report on Tuesday, March 9th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $23.90.
Alcoa stock opened at $31.52 on Thursday. The business has a 50 day moving average of $28.98 and a 200-day moving average of $21.01. The company has a market capitalization of $5.87 billion, a P/E ratio of -12.51 and a beta of 2.51. Alcoa Co. has a 1 year low of $6.38 and a 1 year high of $34.29. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.15.
Alcoa (NYSE:AA) last announced its quarterly earnings results on Tuesday, January 19th. The industrial products company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.15. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Alcoa had a negative net margin of 5.03% and a negative return on equity of 5.83%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.31) EPS. Equities analysts anticipate that Alcoa Co. will post -1.31 EPS for the current year.
Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting, casting, and rolling businesses.
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