Sterling Capital Management LLC bought a new position in Alcoa Corp (NYSE:AA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 50,000 shares of the industrial products company’s stock, valued at approximately $2,344,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Alcoa by 7.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,976 shares of the industrial products company’s stock worth $628,000 after buying an additional 969 shares during the period. Northpointe Capital LLC raised its position in shares of Alcoa by 2.0% in the 2nd quarter. Northpointe Capital LLC now owns 64,042 shares of the industrial products company’s stock worth $3,002,000 after buying an additional 1,254 shares during the period. M&T Bank Corp increased its holdings in Alcoa by 15.8% in the 1st quarter. M&T Bank Corp now owns 11,636 shares of the industrial products company’s stock valued at $523,000 after purchasing an additional 1,589 shares in the last quarter. Beck Capital Management LLC increased its holdings in Alcoa by 5.0% in the 1st quarter. Beck Capital Management LLC now owns 34,179 shares of the industrial products company’s stock valued at $1,537,000 after purchasing an additional 1,634 shares in the last quarter. Finally, WINTON GROUP Ltd increased its holdings in Alcoa by 0.8% in the 1st quarter. WINTON GROUP Ltd now owns 215,606 shares of the industrial products company’s stock valued at $9,694,000 after purchasing an additional 1,794 shares in the last quarter.
Shares of Alcoa stock opened at $42.79 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.42 and a quick ratio of 0.87. The stock has a market cap of $7.84 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 2.26 and a beta of -0.23. Alcoa Corp has a 1-year low of $40.03 and a 1-year high of $62.35.
Alcoa (NYSE:AA) last announced its earnings results on Wednesday, July 18th. The industrial products company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.19. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.49 billion. Alcoa had a return on equity of 10.30% and a net margin of 1.11%. The company’s revenue was up 25.2% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. analysts predict that Alcoa Corp will post 4.1 EPS for the current fiscal year.
Several analysts recently issued reports on the company. B. Riley assumed coverage on Alcoa in a report on Thursday, June 21st. They issued a “neutral” rating and a $47.00 price target for the company. Morgan Stanley lowered their price target on Alcoa from $60.00 to $57.00 and set a “buy” rating for the company in a report on Monday, July 23rd. ValuEngine downgraded Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. BMO Capital Markets lowered their price target on Alcoa from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Thursday, July 19th. Finally, Zacks Investment Research upgraded Alcoa from a “hold” rating to a “strong-buy” rating and set a $53.00 price target for the company in a report on Tuesday, June 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $61.24.
Alcoa Company Profile
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.
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