Alcoa Corp (AA) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. raised its holdings in shares of Alcoa Corp (NYSE:AA) by 14.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,851,293 shares of the industrial products company’s stock after purchasing an additional 1,885,745 shares during the quarter. Vanguard Group Inc. owned 8.06% of Alcoa Corp worth $484,895,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Oxford Asset Management purchased a new stake in shares of Alcoa Corp during the first quarter valued at $499,000. Pacer Advisors Inc. grew its holdings 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 worth $142,000 after purchasing an additional 132 shares during the last quarter. Nordea Investment Management AB increased its stake in Alcoa Corp by 21.2% in the 1st quarter. Nordea Investment Management AB now owns 25,648 shares of the industrial products company’s stock worth $882,000 after buying an additional 4,494 shares during the period. Prudential Financial Inc. increased its stake in Alcoa Corp by 768.8% in the 1st quarter. Prudential Financial Inc. now owns 258,674 shares of the industrial products company’s stock worth $8,898,000 after buying an additional 228,900 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Alcoa Corp in the 1st quarter worth about $775,000.
Shares of Alcoa Corp (AA) opened at 48.31 on Wednesday. Alcoa Corp has a 12-month low of $20.00 and a 12-month high of $48.33. The stock has a 50 day moving average of $45.53 and a 200-day moving average of $45.53. The company has a market capitalization of $8.91 billion and a PE ratio of 54.96.
Alcoa Corp (NYSE:AA) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.88 billion. Alcoa Corp had a return on equity of 3.29% and a net margin of 1.63%. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 earnings per share. Analysts predict that Alcoa Corp will post $2.96 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. Deutsche Bank AG upgraded shares of Alcoa Corp from a “hold” rating to a “buy” rating and lifted their price objective for the company from $44.00 to $60.00 in a report on Tuesday, September 12th. Citigroup Inc. reissued a “buy” rating and issued a $45.00 price objective on shares of Alcoa Corp in a research report on Saturday, July 22nd. Zacks Investment Research upgraded shares of Alcoa Corp from a “hold” rating to a “strong-buy” rating and set a $51.00 target price on the stock in a research note on Wednesday, September 6th. BMO Capital Markets upped their target price on shares of Alcoa Corp from $45.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Alcoa Corp in a research report on Friday, July 21st. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $44.63.
Alcoa Corp 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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