Great West Life Assurance Co. Can Sells 7,851 Shares of Alcoa Corp (AA)

Great West Life Assurance Co. Can lessened its holdings in shares of Alcoa Corp (NYSE:AA) by 6.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 113,536 shares of the industrial products company’s stock after selling 7,851 shares during the period. Great West Life Assurance Co. Can owned 0.06% of Alcoa worth $5,219,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. grew its position in shares of Alcoa by 0.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 35,996 shares of the industrial products company’s stock valued at $1,175,000 after buying an additional 104 shares during the last quarter. Private Advisor Group LLC grew its position in Alcoa by 2.3% in the 2nd quarter. Private Advisor Group LLC now owns 9,433 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 208 shares during the last quarter. Van ECK Associates Corp grew its position in Alcoa by 3.8% in the 2nd 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. Lincoln National Corp grew its position in Alcoa by 3.9% in the 2nd quarter. Lincoln National Corp now owns 6,154 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 233 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in Alcoa by 3.7% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,049 shares of the industrial products company’s stock worth $263,000 after purchasing an additional 288 shares during the last quarter.

Several research analysts have commented on the stock. J P Morgan Chase & Co restated a “buy” rating and issued a $60.00 target price on shares of Alcoa in a research report on Thursday, October 19th. Zacks Investment Research cut shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Berenberg Bank cut shares of Alcoa from a “buy” rating to a “hold” rating and upped their target price for the stock from $41.00 to $44.00 in a research report on Friday, September 22nd. Gabelli cut shares of Alcoa from a “buy” rating to a “hold” rating and upped their target price for the stock from $57.00 to $60.00 in a research report on Wednesday, October 4th. Finally, BMO Capital Markets upped their target price on shares of Alcoa from $45.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 13th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Alcoa presently has a consensus rating of “Buy” and a consensus target price of $49.88.

Alcoa Corp (NYSE AA) opened at $40.60 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.17. The stock has a market cap of $7,643.30 and a P/E ratio of 19.58. Alcoa Corp has a 1-year low of $28.01 and a 1-year high of $50.31.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.05). The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.95 billion. Alcoa had a net margin of 2.61% and a return on equity of 4.90%. The company’s revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the business earned $0.32 earnings per share. analysts anticipate that Alcoa Corp will post 3.2 EPS for the current fiscal year.

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Alcoa 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.

Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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