Stevens Capital Management LP raised its position in Alcoa Corp. (NYSE:AA) by 170.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 306,373 shares of the industrial products company’s stock after acquiring an additional 192,890 shares during the quarter. Stevens Capital Management LP owned approximately 0.17% of Alcoa Corp. worth $10,003,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position 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 acquiring an additional 132 shares during the period. Parallel Advisors LLC purchased a new position in shares of Alcoa Corp. in the first quarter valued at about $133,000. NEXT Financial Group Inc increased its position in shares of 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 acquiring an additional 104 shares during the period. Van ECK Associates Corp increased its position 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 acquiring an additional 1,654 shares during the period. Finally, Global X Management Co. LLC increased its position 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 acquiring an additional 3,993 shares during the period.

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Shares of Alcoa Corp. (AA) traded down 0.33% on Friday, hitting $44.65. 5,441,558 shares of the stock traded hands. Alcoa Corp. has a 52-week low of $20.00 and a 52-week high of $45.20. The stock has a market cap of $8.23 billion and a P/E ratio of 50.80. The stock’s 50 day moving average price is $44.59 and its 200 day moving average price is $40.86.

Alcoa Corp. (NYSE:AA) last posted its earnings results on Wednesday, July 19th. The industrial products company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. Alcoa Corp. had a net margin of 1.63% and a return on equity of 3.29%. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. On average, equities analysts expect that Alcoa Corp. will post $2.92 EPS for the current fiscal year.

AA has been the topic of several research analyst reports. Deutsche Bank AG upgraded shares of Alcoa Corp. from a “hold” rating to a “buy” rating and boosted their price target for the company from $4.00 to $60.00 in a research report on Tuesday. Citigroup Inc. reiterated a “buy” rating and set a $45.00 price target on shares of Alcoa Corp. in a research report on Friday, May 19th. BMO Capital Markets reiterated a “buy” rating and set a $45.00 price target on shares of Alcoa Corp. in a research report on Friday, June 2nd. Morgan Stanley cut shares of Alcoa Corp. from a “top pick” rating to a “buy” rating and boosted their price target for the company from $43.00 to $47.00 in a research report on Tuesday, June 27th. They noted that the move was a valuation call. Finally, Macquarie initiated coverage on shares of Alcoa Corp. in a research report on Thursday, September 7th. They set an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $40.07.

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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