Legal & General Group Plc boosted its holdings in shares of Alcoa Corp (NYSE:AA) by 4.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 722,097 shares of the industrial products company’s stock after purchasing an additional 29,520 shares during the period. Legal & General Group Plc owned about 0.39% of Alcoa Corp worth $23,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently modified their holdings of the company. Blockhouse Capital Management LP purchased a new stake in shares of Alcoa Corp during the first quarter worth about $6,890,000. State of Wisconsin Investment Board increased its stake in shares of Alcoa Corp by 9.5% during the second quarter. State of Wisconsin Investment Board now owns 146,169 shares of the industrial products company’s stock worth $4,772,000 after purchasing an additional 12,650 shares in the last quarter. Bank of Montreal Can grew its stake in Alcoa Corp by 18.2% during the 2nd quarter. Bank of Montreal Can now owns 1,184,271 shares of the industrial products company’s stock valued at $38,666,000 after acquiring an additional 182,736 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Alcoa Corp during the 1st quarter valued at about $775,000. Finally, Rhumbline Advisers grew its stake in Alcoa Corp by 14.3% during the 2nd quarter. Rhumbline Advisers now owns 172,839 shares of the industrial products company’s stock valued at $5,643,000 after acquiring an additional 21,642 shares in the last quarter.
Several analysts have recently weighed in on the stock. Clarkson Capital restated a “buy” rating on shares of Alcoa Corp in a report on Thursday, July 20th. BMO Capital Markets set a $45.00 target price on shares of Alcoa Corp and gave the stock a “buy” rating in a report on Tuesday, July 4th. Morgan Stanley reiterated an “overweight” rating on shares of Alcoa Corp in a report on Friday, July 21st. Zacks Investment Research upgraded shares of Alcoa Corp from a “hold” rating to a “strong-buy” rating and set a $51.00 target price on the stock in a report on Wednesday, September 6th. Finally, Credit Suisse Group assumed coverage on shares of Alcoa Corp in a report on Wednesday, August 9th. They set a “neutral” rating and a $42.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Alcoa Corp has an average rating of “Buy” and a consensus price target of $40.07.
Shares of Alcoa Corp (NYSE AA) traded down 0.33% during trading on Friday, reaching $44.65. 5,441,558 shares of the company’s stock were exchanged. Alcoa Corp has a 52 week low of $20.00 and a 52 week high of $45.20. The company’s 50-day moving average price is $44.59 and its 200 day moving average price is $40.86. The firm has a market capitalization of $8.23 billion and a PE ratio of 50.80.
Alcoa Corp (NYSE:AA) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Alcoa Corp had a return on equity of 5.09% and a net margin of 4.83%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.88 billion. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 EPS. Analysts predict that Alcoa Corp will post $2.92 EPS for the current fiscal year.
Alcoa Corp Profile
Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.
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