BlueCrest Capital Management Ltd grew its holdings in Alcoa Corp (NYSE:AA) by 216.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 102,387 shares of the industrial products company’s stock after purchasing an additional 70,000 shares during the quarter. BlueCrest Capital Management Ltd owned 0.06% of Alcoa Corp worth $3,343,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of AA. BlackRock Inc. raised its holdings in Alcoa Corp by 4,113.0% during the first quarter. BlackRock Inc. now owns 6,820,599 shares of the industrial products company’s stock worth $234,632,000 after purchasing an additional 6,658,703 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its holdings in Alcoa Corp by 163.5% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 4,539,019 shares of the industrial products company’s stock worth $148,198,000 after purchasing an additional 2,816,320 shares in the last quarter. BT Investment Management Ltd acquired a new stake in Alcoa Corp during the second quarter worth approximately $83,380,000. Assenagon Asset Management S.A. acquired a new stake in Alcoa Corp during the second quarter worth approximately $63,686,000. Finally, Vanguard Group Inc. raised its holdings in Alcoa Corp by 14.5% during the second quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock worth $484,895,000 after purchasing an additional 1,885,745 shares in the last quarter.
Alcoa Corp (NYSE AA) traded down 0.88% during trading on Wednesday, reaching $47.35. The company’s stock had a trading volume of 820,453 shares. The stock’s 50-day moving average is $46.13 and its 200 day moving average is $46.13. The firm has a market capitalization of $8.73 billion and a price-to-earnings ratio of 53.87. Alcoa Corp has a 52-week low of $20.00 and a 52-week high of $49.30.
Alcoa Corp (NYSE:AA) last posted its earnings results on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Alcoa Corp had a return on equity of 3.29% and a net margin of 1.63%. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the previous year, the firm earned $0.15 earnings per share. The company’s revenue was up 23.1% on a year-over-year basis. On average, analysts predict that Alcoa Corp will post $3.10 EPS for the current fiscal year.
A number of brokerages have recently commented on AA. Clarkson Capital reissued a “buy” rating on shares of Alcoa Corp in a research note 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 research report on Saturday, August 5th. Cowen and Company set a $51.00 target price on shares of Alcoa Corp and gave the stock a “hold” rating in a research report on Wednesday, October 11th. Citigroup Inc. restated a “buy” rating and set a $53.00 target price on shares of Alcoa Corp in a research report on Friday, September 29th. Finally, Macquarie restated a “buy” rating and set a $62.00 target price (up from $55.00) on shares of Alcoa Corp in a research report on Tuesday, October 10th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $48.88.
Alcoa Corp Company 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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