Tocqueville Asset Management L.P. Sells 10,617 Shares of Alcoa Corp. (AA)
Tocqueville Asset Management L.P. decreased its holdings in Alcoa Corp. (NYSE:AA) by 4.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,919 shares of the industrial products company’s stock after selling 10,617 shares during the period. Tocqueville Asset Management L.P. owned about 0.11% of Alcoa Corp. worth $9,553,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of AA. Huntington National Bank bought a new position in Alcoa Corp. in the third quarter worth approximately $112,000. NEXT Financial Group Inc raised 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 worth $146,000 after buying an additional 104 shares in the last quarter. Pacer Advisors Inc. raised its stake in Alcoa Corp. by 8.4% in the second quarter. Pacer Advisors Inc. now owns 4,488 shares of the industrial products company’s stock worth $147,000 after buying an additional 348 shares in the last quarter. Global X Management Co. LLC grew its holdings 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 worth $189,000 after purchasing an additional 3,993 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in Alcoa Corp. by 3.8% in the second quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock worth $189,000 after purchasing an additional 213 shares during the last quarter.
Alcoa Corp. (NYSE AA) traded down $0.58 during trading hours on Friday, reaching $47.12. 1,837,775 shares of the company’s stock traded hands, compared to its average volume of 3,710,000. Alcoa Corp. has a one year low of $23.56 and a one year high of $50.31. The stock has a market capitalization of $8.72 billion and a price-to-earnings ratio of 22.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.88 and a current ratio of 1.38.
Alcoa Corp. (NYSE:AA) last posted its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.05). The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Alcoa Corp. had a net margin of 2.61% and a return on equity of 4.90%. Alcoa Corp.’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 earnings per share. research analysts predict that Alcoa Corp. will post 3.15 EPS for the current year.
AA has been the topic of several analyst reports. Deutsche Bank AG raised shares of Alcoa Corp. from a “hold” rating to a “buy” rating and lifted their price target for the stock from $44.00 to $60.00 in a report on Tuesday, September 12th. Citigroup Inc reaffirmed a “buy” rating and issued a $45.00 price target on shares of Alcoa Corp. in a report on Saturday, July 22nd. BMO Capital Markets set a $45.00 price target on shares of Alcoa Corp. and gave the stock a “buy” rating in a report on Saturday, August 5th. Morgan Stanley lifted their price target on shares of Alcoa Corp. from $47.00 to $54.00 and gave the stock a “top pick” rating in a report on Monday, September 25th. Finally, Zacks Investment Research raised shares of Alcoa Corp. from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Thursday, September 14th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Alcoa Corp. currently has a consensus rating of “Buy” and a consensus price target of $49.88.
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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