First Trust Advisors LP reduced its stake in shares of Alcoa Corp. (NYSE:AA) by 68.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,835 shares of the industrial products company’s stock after selling 474,056 shares during the period. First Trust Advisors LP owned 0.12% of Alcoa Corp. worth $7,047,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Boston Partners increased its stake in shares of Alcoa Corp. by 121.2% in the second quarter. Boston Partners now owns 97,975 shares of the industrial products company’s stock valued at $3,199,000 after buying an additional 53,689 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Alcoa Corp. by 15.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 711,148 shares of the industrial products company’s stock valued at $23,219,000 after buying an additional 97,371 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Alcoa Corp. by 1,069,180.0% in the second quarter. Canada Pension Plan Investment Board now owns 106,928 shares of the industrial products company’s stock valued at $3,491,000 after buying an additional 106,918 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Alcoa Corp. during the second quarter valued at about $1,008,000. Finally, Global X Management Co. LLC increased its stake in shares of Alcoa Corp. by 220.6% in the second quarter. Global X Management Co. LLC now owns 5,803 shares of the industrial products company’s stock valued at $189,000 after buying an additional 3,993 shares in the last quarter.

Alcoa Corp. (NYSE:AA) opened at 42.17 on Tuesday. Alcoa Corp. has a 1-year low of $20.00 and a 1-year high of $42.26. The stock has a 50 day moving average of $37.31 and a 200-day moving average of $34.54. The company has a market cap of $7.77 billion and a PE ratio of 47.97.

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 the consensus estimate of $0.60 by $0.02. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Alcoa Corp. had a net margin of 1.63% and a return on equity of 3.29%. Alcoa Corp.’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 earnings per share. On average, equities research analysts predict that Alcoa Corp. will post $2.86 earnings per share for the current year.

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Several brokerages have recently issued reports on AA. Deutsche Bank AG reaffirmed a “hold” rating and issued a $44.00 price target on shares of Alcoa Corp. in a research report on Wednesday, August 9th. Credit Suisse Group assumed coverage on Alcoa Corp. in a research report on Wednesday, August 9th. They set a “neutral” rating and a $42.00 target price on the stock. BMO Capital Markets set a $45.00 target price on Alcoa Corp. and gave the stock a “buy” rating in a research report on Saturday, August 5th. Clarkson Capital reissued a “buy” rating on shares of Alcoa Corp. in a research report on Thursday, July 20th. Finally, Citigroup Inc. reissued a “buy” rating and set a $45.00 target price on shares of Alcoa Corp. in a research report on Saturday, July 22nd. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $39.00.

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

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