Ladenburg Thalmann Financial Services Inc. boosted its holdings in Alcoa Corp (NYSE:AA) by 16.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,407 shares of the industrial products company’s stock after purchasing an additional 3,759 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Alcoa were worth $1,231,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in AA. Vanguard Group Inc. boosted its position in shares of Alcoa by 14.5% in the second quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock worth $484,895,000 after buying an additional 1,885,745 shares during the period. Elliott Management Corp raised its holdings in shares of Alcoa by 14.7% during the second quarter. Elliott Management Corp now owns 11,737,457 shares of the industrial products company’s stock worth $383,228,000 after acquiring an additional 1,500,000 shares in the last quarter. Balyasny Asset Management LLC raised its holdings in shares of Alcoa by 22.8% during the second quarter. Balyasny Asset Management LLC now owns 7,848,750 shares of the industrial products company’s stock worth $256,262,000 after acquiring an additional 1,458,488 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Alcoa by 14.1% during the second quarter. BlackRock Inc. now owns 7,779,093 shares of the industrial products company’s stock worth $253,986,000 after acquiring an additional 958,494 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its holdings in Alcoa by 163.5% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 4,539,019 shares of the industrial products company’s stock valued at $148,198,000 after buying an additional 2,816,320 shares in the last quarter.
Shares of Alcoa Corp (NYSE AA) traded up $0.74 during trading on Thursday, hitting $56.91. 2,725,500 shares of the company’s stock traded hands, compared to its average volume of 4,190,000. Alcoa Corp has a 52 week low of $29.55 and a 52 week high of $57.13. The company has a market cap of $10,530.00 and a PE ratio of 38.98. 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 (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). The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.95 billion. Alcoa had a net margin of 2.61% and a return on equity of 4.90%. Alcoa’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. research analysts forecast that Alcoa Corp will post 3.19 earnings per share for the current fiscal year.
AA has been the topic of several recent research reports. BMO Capital Markets raised their target price on Alcoa from $45.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, September 13th. Citigroup reaffirmed a “buy” rating and issued a $55.00 price target (up from $53.00) on shares of Alcoa in a research report on Friday, October 20th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $60.00 price target on shares of Alcoa in a research report on Thursday, October 19th. Zacks Investment Research raised Alcoa from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Thursday, September 14th. Finally, Gabelli downgraded Alcoa from a “buy” rating to a “hold” rating and lifted their price objective for the company from $57.00 to $60.00 in a report on Wednesday, October 4th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $53.74.
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Alcoa Company 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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