Clinton Group Inc. Has $283,000 Stake in Alcoa Corp (AA)

Clinton Group Inc. reduced its position in Alcoa Corp (NYSE:AA) by 94.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,997 shares of the industrial products company’s stock after selling 112,485 shares during the period. Clinton Group Inc.’s holdings in Alcoa were worth $283,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Northpointe Capital LLC increased its position in shares of Alcoa by 2.0% in the second quarter. Northpointe Capital LLC now owns 64,042 shares of the industrial products company’s stock worth $3,002,000 after acquiring an additional 1,254 shares in the last quarter. United Services Automobile Association increased its position in shares of Alcoa by 5.2% in the second quarter. United Services Automobile Association now owns 28,591 shares of the industrial products company’s stock worth $1,340,000 after acquiring an additional 1,402 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Alcoa by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,411 shares of the industrial products company’s stock worth $722,000 after acquiring an additional 1,435 shares in the last quarter. Banco de Sabadell S.A increased its position in shares of Alcoa by 24.1% in the second quarter. Banco de Sabadell S.A now owns 8,999 shares of the industrial products company’s stock worth $420,000 after acquiring an additional 1,749 shares in the last quarter. Finally, WINTON GROUP Ltd increased its position in shares of Alcoa by 0.8% in the first quarter. WINTON GROUP Ltd now owns 215,606 shares of the industrial products company’s stock worth $9,694,000 after acquiring an additional 1,794 shares in the last quarter.

AA stock opened at $35.67 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 0.27. The company has a market cap of $7.53 billion, a P/E ratio of 12.03, a P/E/G ratio of 2.11 and a beta of -0.08. Alcoa Corp has a 52 week low of $35.13 and a 52 week high of $62.35.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, July 18th. The industrial products company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.33 by $0.19. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Alcoa had a net margin of 1.11% and a return on equity of 10.30%. The firm’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. As a group, analysts anticipate that Alcoa Corp will post 4.22 earnings per share for the current year.

Several research firms have recently weighed in on AA. BMO Capital Markets dropped their target price on shares of Alcoa from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, July 19th. Jefferies Financial Group set a $65.00 price target on shares of Alcoa and gave the stock a “buy” rating in a report on Thursday, July 19th. ValuEngine cut shares of Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. B. Riley started coverage on shares of Alcoa in a report on Thursday, June 21st. They set a “neutral” rating and a $47.00 price target for the company. Finally, Credit Suisse Group decreased their price target on shares of Alcoa from $69.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, July 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. Alcoa presently has an average rating of “Buy” and an average price target of $61.13.

About Alcoa

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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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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