Cambria Investment Management L.P. increased its stake in Alcoa Corp. (NYSE:AA) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,380 shares of the industrial products company’s stock after buying an additional 1,152 shares during the period. Cambria Investment Management L.P.’s holdings in Alcoa Corp. were worth $1,733,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC acquired a new stake in shares of Alcoa Corp. during the first quarter valued at $133,000. Pacer Advisors Inc. raised its stake in shares of Alcoa Corp. by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock valued at $142,000 after buying an additional 132 shares during the period. Van ECK Associates Corp raised its stake in shares of Alcoa Corp. by 42.3% in the first quarter. Van ECK Associates Corp now owns 5,566 shares of the industrial products company’s stock valued at $191,000 after buying an additional 1,654 shares during the period. AXA acquired a new stake in shares of Alcoa Corp. during the first quarter valued at $206,000. Finally, Dynamic Capital Management Ltd acquired a new stake in shares of Alcoa Corp. during the first quarter valued at $228,000.

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

Shares of Alcoa Corp. (NYSE:AA) traded down 1.42% during trading on Tuesday, hitting $30.45. 2,567,582 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $32.23 and its 200-day moving average price is $33.33. The stock has a market cap of $5.61 billion and a PE ratio of 163.71. Alcoa Corp. has a 1-year low of $20.00 and a 1-year high of $39.78.

Alcoa Corp. (NYSE:AA) last posted its earnings results on Monday, April 24th. The industrial products company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.48 by $0.15. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the prior year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. On average, equities analysts expect that Alcoa Corp. will post $2.80 earnings per share for the current fiscal year.

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AA has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of Alcoa Corp. from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, March 14th. Zacks Investment Research lowered shares of Alcoa Corp. from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 3rd. Vetr upgraded shares of Alcoa Corp. from a “hold” rating to a “buy” rating and set a $37.78 target price on the stock in a research report 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 report on Monday, March 6th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $35.00 target price on shares of Alcoa Corp. in a research report on Wednesday, March 22nd. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Alcoa Corp. has a consensus rating of “Buy” and a consensus price target of $36.50.

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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