SG Americas Securities LLC purchased a new stake in shares of Alcoa Corp. (NYSE:AA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 22,524 shares of the industrial products company’s stock, valued at approximately $775,000.

Several other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in shares of Alcoa Corp. by 192.6% in the first quarter. JPMorgan Chase & Co. now owns 3,869,510 shares of the industrial products company’s stock valued at $133,111,000 after buying an additional 2,547,180 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of Alcoa Corp. by 66.0% in the first quarter. Parametric Portfolio Associates LLC now owns 369,025 shares of the industrial products company’s stock valued at $12,694,000 after buying an additional 146,778 shares during the period. Prudential Financial Inc. increased its position in shares of Alcoa Corp. by 768.8% in the first quarter. Prudential Financial Inc. now owns 258,674 shares of the industrial products company’s stock valued at $8,898,000 after buying an additional 228,900 shares during the period. CIBC World Markets Inc. increased its position in shares of Alcoa Corp. by 0.3% in the first quarter. CIBC World Markets Inc. now owns 235,444 shares of the industrial products company’s stock valued at $8,099,000 after buying an additional 814 shares during the period. Finally, Blockhouse Capital Management LP purchased a new position in shares of Alcoa Corp. during the first quarter valued at about $6,890,000.

Institutional Ownership by Quarter for Alcoa Corp. (NYSE:AA)

Shares of Alcoa Corp. (AA) opened at 30.00 on Friday. The firm has a market cap of $5.53 billion and a P/E ratio of 161.29. Alcoa Corp. has a 12-month low of $20.53 and a 12-month high of $39.78. The firm’s 50-day moving average price is $32.31 and its 200 day moving average price is $33.26.

Alcoa Corp. (NYSE:AA) last released its earnings results on Monday, April 24th. The industrial products company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.15. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the previous year, the company posted $0.07 EPS. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, equities analysts expect that Alcoa Corp. will post $2.81 earnings per share for the current fiscal year.

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AA has been the subject of several analyst reports. Morgan Stanley boosted their price target on shares of Alcoa Corp. from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, March 14th. Zacks Investment Research downgraded shares of Alcoa Corp. from a “strong-buy” rating to a “hold” rating in a report on Monday, April 3rd. Vetr upgraded shares of Alcoa Corp. from a “hold” rating to a “buy” rating and set a $37.78 price objective on the stock in a research note on Tuesday, March 7th. Goldman Sachs Group, Inc. (The) upgraded shares of Alcoa Corp. from a “neutral” rating to a “buy” rating in a research note on Monday, March 6th. Finally, BMO Capital Markets restated a “hold” rating and set a $35.00 price objective on shares of Alcoa Corp. in a research note on Wednesday, March 22nd. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $36.50.

About Alcoa Corp.

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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