ALCOA CORP (AA) Shares Bought by Ameriprise Financial Inc.
Ameriprise Financial Inc. increased its holdings in ALCOA CORP (NYSE:AA) by 47.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 368,371 shares of the industrial products company’s stock after purchasing an additional 117,923 shares during the period. Ameriprise Financial Inc. owned 0.20% of ALCOA CORP worth $12,029,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC purchased a new position in ALCOA CORP in the 1st quarter worth approximately $133,000. Pacer Advisors Inc. lifted its holdings in ALCOA CORP by 3.3% in the 1st 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 in the last quarter. NEXT Financial Group Inc lifted its holdings in ALCOA CORP by 2.4% in the 2nd quarter. NEXT Financial Group Inc now owns 4,462 shares of the industrial products company’s stock worth $146,000 after purchasing an additional 104 shares in the last quarter. Global X Management Co. LLC lifted its holdings in ALCOA CORP by 220.6% in the 2nd quarter. Global X Management Co. LLC now owns 5,803 shares of the industrial products company’s stock worth $189,000 after purchasing an additional 3,993 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in ALCOA CORP by 42.3% in the 1st quarter. Van ECK Associates Corp now owns 5,566 shares of the industrial products company’s stock worth $191,000 after purchasing an additional 1,654 shares in the last quarter.
A number of research analysts recently commented on the company. Clarkson Capital reissued a “buy” rating on shares of ALCOA CORP in a report on Thursday, July 20th. BMO Capital Markets set a $45.00 price target on ALCOA CORP and gave the stock a “buy” rating in a report on Saturday, August 5th. Citigroup Inc. reissued a “buy” rating and issued a $53.00 price target on shares of ALCOA CORP in a report on Friday, September 29th. Gabelli cut ALCOA CORP from a “buy” rating to a “hold” rating and boosted their price target for the stock from $57.00 to $60.00 in a report on Wednesday, October 4th. Finally, Credit Suisse Group assumed coverage on ALCOA CORP in a report on Wednesday, August 9th. They issued a “neutral” rating and a $42.00 price target on the stock. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. ALCOA CORP has an average rating of “Buy” and a consensus target price of $45.53.
ALCOA CORP (NYSE AA) opened at 47.49 on Monday. The company has a market cap of $8.75 billion and a P/E ratio of 54.03. ALCOA CORP has a 52-week low of $20.00 and a 52-week high of $49.30. The stock’s 50 day moving average price is $45.87 and its 200 day moving average price is $45.87.
ALCOA CORP (NYSE:AA) last announced its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. ALCOA CORP had a return on equity of 3.29% and a net margin of 1.63%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the business posted $0.15 earnings per share. The firm’s revenue was up 23.1% compared to the same quarter last year. Analysts expect that ALCOA CORP will post $3.00 earnings per share for the current year.
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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