ALCOA CORP (AA) Stake Increased by Suntrust Banks Inc.
Suntrust Banks Inc. increased its stake in shares of ALCOA CORP (NYSE:AA) by 290.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 42,262 shares of the industrial products company’s stock after acquiring an additional 31,441 shares during the period. Suntrust Banks Inc.’s holdings in ALCOA CORP were worth $1,379,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of AA. BlackRock Inc. raised its stake in shares of ALCOA CORP by 4,113.0% in the 1st quarter. BlackRock Inc. now owns 6,820,599 shares of the industrial products company’s stock valued at $234,632,000 after acquiring an additional 6,658,703 shares in the last quarter. Old Mutual Global Investors UK Ltd. lifted its holdings in ALCOA CORP by 163.5% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 4,539,019 shares of the industrial products company’s stock worth $148,198,000 after purchasing an additional 2,816,320 shares during the last quarter. BT Investment Management Ltd acquired a new stake in ALCOA CORP in the 2nd quarter worth approximately $83,380,000. Assenagon Asset Management S.A. acquired a new stake in ALCOA CORP in the 2nd quarter worth approximately $63,686,000. Finally, Vanguard Group Inc. lifted its holdings in ALCOA CORP by 14.5% in the 2nd quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock worth $484,895,000 after purchasing an additional 1,885,745 shares during the last quarter.
A number of research firms have recently commented on AA. Clarkson Capital reissued a “buy” rating on shares of ALCOA CORP in a research report on Thursday, July 20th. BMO Capital Markets set a $45.00 price objective on shares of ALCOA CORP and gave the stock a “buy” rating in a research note on Saturday, August 5th. Citigroup Inc. reaffirmed a “buy” rating and set a $53.00 price objective on shares of ALCOA CORP in a report on Friday. Credit Suisse Group started coverage on shares of ALCOA CORP in a report on Wednesday, August 9th. They set a “neutral” rating and a $42.00 price objective for the company. Finally, 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. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $44.63.
ALCOA CORP (NYSE AA) opened at 47.65 on Tuesday. ALCOA CORP has a 52 week low of $20.00 and a 52 week high of $48.03. The company has a 50 day moving average price of $45.37 and a 200-day moving average price of $45.37. The firm has a market capitalization of $8.78 billion and a price-to-earnings ratio of 54.21.
ALCOA CORP (NYSE:AA) last released its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $2.86 billion for 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%. The business’s revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS. Equities analysts predict that ALCOA CORP will post $2.96 earnings per share for the current year.
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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