Schwab Charles Investment Management Inc. Lowers Stake in Alcoa Corp (AA)

Schwab Charles Investment Management Inc. trimmed its stake in Alcoa Corp (NYSE:AA) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 690,738 shares of the industrial products company’s stock after selling 20,410 shares during the period. Schwab Charles Investment Management Inc. owned about 0.37% of Alcoa worth $32,203,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. State of Wisconsin Investment Board grew its position in Alcoa by 9.5% in the second quarter. State of Wisconsin Investment Board now owns 146,169 shares of the industrial products company’s stock valued at $4,772,000 after acquiring an additional 12,650 shares during the period. Rhumbline Advisers boosted its stake in Alcoa by 14.3% in the second quarter. Rhumbline Advisers now owns 172,839 shares of the industrial products company’s stock worth $5,643,000 after purchasing an additional 21,642 shares in the last quarter. Elliott Management Corp boosted its stake in Alcoa by 14.7% in the second quarter. Elliott Management Corp now owns 11,737,457 shares of the industrial products company’s stock worth $383,228,000 after purchasing an additional 1,500,000 shares in the last quarter. Jennison Associates LLC acquired a new position in Alcoa in the second quarter worth $10,324,000. Finally, Commonwealth Bank of Australia boosted its stake in Alcoa by 45.2% in the second quarter. Commonwealth Bank of Australia now owns 82,593 shares of the industrial products company’s stock worth $2,696,000 after purchasing an additional 25,700 shares in the last quarter.

Shares of Alcoa Corp (AA) opened at $41.40 on Monday. The company has a market capitalization of $7,659.95 and a PE ratio of 19.62. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.17. Alcoa Corp has a fifty-two week low of $28.01 and a fifty-two week high of $50.31.

Alcoa (NYSE:AA) last announced its quarterly earnings results 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). Alcoa had a return on equity of 4.90% and a net margin of 2.61%. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the company earned $0.32 earnings per share. The firm’s revenue was up 27.3% compared to the same quarter last year. equities analysts expect that Alcoa Corp will post 3.2 EPS for the current fiscal year.

AA has been the topic of a number of recent analyst reports. Zacks Investment Research raised Alcoa from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective on the stock in a research note on Wednesday, September 6th. Macquarie initiated coverage on Alcoa in a research note on Thursday, September 7th. They issued an “outperform” rating on the stock. Deutsche Bank raised Alcoa from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $44.00 to $60.00 in a research note on Tuesday, September 12th. BMO Capital Markets boosted their price objective on Alcoa from $45.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $47.00 price target on shares of Alcoa in a research note on Wednesday, September 20th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Alcoa currently has a consensus rating of “Buy” and a consensus price target of $49.88.

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About Alcoa

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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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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