State of Wisconsin Investment Board increased its stake in shares of Alcoa Corp. (NYSE:AA) by 9.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 146,169 shares of the industrial products company’s stock after buying an additional 12,650 shares during the period. State of Wisconsin Investment Board owned 0.08% of Alcoa Corp. worth $4,772,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its stake in 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 last quarter. Parallel Advisors LLC bought a new stake in Alcoa Corp. during the first quarter valued at $133,000. NEXT Financial Group Inc boosted its stake in Alcoa Corp. by 2.4% in the second quarter. NEXT Financial Group Inc now owns 4,462 shares of the industrial products company’s stock valued at $146,000 after buying an additional 104 shares during the last quarter. Van ECK Associates Corp boosted its stake in 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 last quarter. Finally, Global X Management Co. LLC boosted its stake in 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 during the last quarter.

Shares of Alcoa Corp. (AA) opened at 43.88 on Friday. The firm has a market cap of $8.09 billion and a price-to-earnings ratio of 49.92. Alcoa Corp. has a 12-month low of $20.00 and a 12-month high of $44.00. The stock’s 50 day moving average is $38.26 and its 200 day moving average is $34.69.

Alcoa Corp. (NYSE:AA) last announced its earnings results on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Alcoa Corp. had a net margin of 1.63% and a return on equity of 3.29%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the business posted $0.15 EPS. The business’s revenue was up 23.1% compared to the same quarter last year. Equities analysts expect that Alcoa Corp. will post $2.86 earnings per share for the current year.

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Several equities research analysts recently weighed in on the stock. Clarkson Capital reiterated 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 company a “buy” rating in a research note on Saturday, August 5th. Credit Suisse Group assumed coverage on shares of Alcoa Corp. in a research note on Wednesday, August 9th. They issued a “neutral” rating and a $42.00 target price for the company. Deutsche Bank AG reiterated a “hold” rating and issued a $44.00 target price on shares of Alcoa Corp. in a research note on Wednesday, August 9th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $45.00 target price on shares of Alcoa Corp. in a research note on Friday, May 19th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average 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.

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

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