Maven Securities LTD purchased a new position in Alcoa Corp (NYSE:AA) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 110,000 shares of the industrial products company’s stock, valued at approximately $2,559,000. Alcoa comprises approximately 1.7% of Maven Securities LTD’s investment portfolio, making the stock its 24th largest position.
Several other institutional investors also recently made changes to their positions in the stock. Parallel Advisors LLC increased its position in shares of Alcoa by 143.3% in the 1st quarter. Parallel Advisors LLC now owns 1,000 shares of the industrial products company’s stock valued at $28,000 after buying an additional 589 shares in the last quarter. Jennison Associates LLC raised its position in shares of Alcoa by 0.3% during the first quarter. Jennison Associates LLC now owns 249,415 shares of the industrial products company’s stock worth $7,024,000 after purchasing an additional 629 shares during the period. Virginia Retirement Systems ET AL lifted its holdings in shares of Alcoa by 2.4% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 34,300 shares of the industrial products company’s stock valued at $803,000 after purchasing an additional 800 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Alcoa by 10.0% during the 1st quarter. CIBC Asset Management Inc now owns 9,005 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 821 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Alcoa by 24.8% in the 2nd quarter. Van ECK Associates Corp now owns 4,538 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 901 shares during the period.
NYSE AA traded up $1.40 during trading on Wednesday, hitting $22.23. The stock had a trading volume of 478,338 shares, compared to its average volume of 3,290,166. Alcoa Corp has a 12 month low of $16.46 and a 12 month high of $45.45. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 1.51. The company’s 50-day moving average price is $19.45 and its two-hundred day moving average price is $24.00. The company has a market capitalization of $3.77 billion, a PE ratio of 6.20 and a beta of 1.45.
Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, July 17th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.33. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.77 billion. Alcoa had a negative net margin of 4.92% and a positive return on equity of 2.78%. The firm’s revenue was down 24.3% compared to the same quarter last year. During the same period last year, the company earned $1.52 earnings per share. As a group, equities analysts anticipate that Alcoa Corp will post -0.27 earnings per share for the current fiscal year.
A number of analysts recently issued reports on the company. Bank of America reissued a “neutral” rating and set a $20.00 target price (down from $25.00) on shares of Alcoa in a research note on Friday, August 16th. ValuEngine lowered shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Goldman Sachs Group set a $30.00 price target on shares of Alcoa and gave the company a “buy” rating in a report on Friday, August 30th. Macquarie downgraded shares of Alcoa from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $34.00 to $25.00 in a research report on Tuesday, July 9th. Finally, Credit Suisse Group upgraded shares of Alcoa from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $26.00 to $27.00 in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $33.92.
Alcoa Company Profile
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.
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