FIL Ltd raised its position in Alcoa Corp (NYSE:AA) by 34.1% in the first quarter, Holdings Channel reports. The fund owned 177,813 shares of the industrial products company’s stock after buying an additional 45,188 shares during the period. FIL Ltd’s holdings in Alcoa were worth $5,007,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Oppenheimer & Co. Inc. acquired a new stake in Alcoa during the first quarter worth approximately $235,000. AGF Investments Inc. acquired a new stake in Alcoa during the fourth quarter worth approximately $433,000. Masters Capital Management LLC acquired a new stake in Alcoa during the fourth quarter worth approximately $7,974,000. NumerixS Investment Technologies Inc raised its holdings in Alcoa by 240.3% during the fourth quarter. NumerixS Investment Technologies Inc now owns 9,869 shares of the industrial products company’s stock worth $263,000 after purchasing an additional 6,969 shares in the last quarter. Finally, Investors Research Corp acquired a new stake in Alcoa during the first quarter worth approximately $124,000.
Shares of Alcoa stock opened at $21.80 on Friday. The firm has a market capitalization of $3.93 billion, a PE ratio of 6.09, a price-to-earnings-growth ratio of 5.22 and a beta of 1.30. Alcoa Corp has a 12 month low of $20.82 and a 12 month high of $48.87. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.83 and a current ratio of 1.47.
Alcoa (NYSE:AA) last announced its earnings results on Wednesday, April 17th. The industrial products company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.06). The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.87 billion. Alcoa had a negative net margin of 0.94% and a positive return on equity of 6.75%. The business’s revenue was down 12.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 earnings per share. As a group, equities research analysts expect that Alcoa Corp will post 1.01 EPS for the current fiscal year.
A number of analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of Alcoa from $47.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, March 26th. JPMorgan Chase & Co. cut their target price on shares of Alcoa from $60.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. BMO Capital Markets cut their target price on shares of Alcoa from $45.00 to $40.00 in a report on Thursday, April 18th. ValuEngine cut shares of Alcoa from a “sell” rating to a “strong sell” rating in a report on Thursday, April 11th. Finally, Zacks Investment Research raised shares of Alcoa from a “strong sell” rating to a “hold” rating in a report on Monday, May 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Alcoa has an average rating of “Buy” and a consensus target price of $40.75.
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Alcoa Company Profile
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.
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