Meyer Handelman Co. lowered its stake in Alcoa Corp. (NYSE:AA) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,551 shares of the industrial products company’s stock after selling 614 shares during the period. Meyer Handelman Co.’s holdings in Alcoa Corp. were worth $606,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Private Advisor Group LLC increased its stake in Alcoa Corp. by 16.3% in the first quarter. Private Advisor Group LLC now owns 9,225 shares of the industrial products company’s stock valued at $312,000 after buying an additional 1,294 shares during the last quarter. Nordea Investment Management AB increased its stake in Alcoa Corp. by 21.2% in the first quarter. Nordea Investment Management AB now owns 25,648 shares of the industrial products company’s stock valued at $882,000 after buying an additional 4,494 shares during the last quarter. Pacer Advisors Inc. increased its stake in Alcoa Corp. by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock valued at $142,000 after buying an additional 132 shares during the last quarter. Penserra Capital Management LLC bought a new stake in Alcoa Corp. during the first quarter valued at approximately $1,262,000. Finally, Oxford Asset Management bought a new stake in Alcoa Corp. during the first quarter valued at approximately $499,000.
Alcoa Corp. (NYSE AA) traded down 0.27% on Friday, reaching $36.62. 2,527,539 shares of the company’s stock were exchanged. Alcoa Corp. has a 1-year low of $20.00 and a 1-year high of $39.78. The company has a market capitalization of $6.75 billion and a P/E ratio of 41.33. The firm has a 50-day moving average price of $33.13 and a 200-day moving average price of $33.85.
Alcoa Corp. (NYSE:AA) last released its earnings results on Wednesday, July 19th. The industrial products company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Alcoa Corp. had a net margin of 1.63% and a return on equity of 3.28%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the business earned $0.15 EPS. The business’s revenue was up 23.1% on a year-over-year basis. Equities research analysts expect that Alcoa Corp. will post $2.83 earnings per share for the current year.
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Several research firms have recently commented on AA. Morgan Stanley reiterated an “overweight” rating on shares of Alcoa Corp. in a research note on Friday. Citigroup Inc. reissued a “buy” rating and set a $45.00 target price on shares of Alcoa Corp. in a report on Saturday. Zacks Investment Research cut shares of Alcoa Corp. from a “strong-buy” rating to a “hold” rating in a report on Monday, April 3rd. BMO Capital Markets set a $45.00 target price on shares of Alcoa Corp. and gave the stock a “buy” rating in a report on Tuesday, July 4th. Finally, Clarkson Capital started coverage on shares of Alcoa Corp. in a report on Monday, May 22nd. They set a “buy” rating and a $43.00 target price for the company. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $38.83.
About Alcoa Corp.
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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