Dimensional Fund Advisors LP Has $47.57 Million Stake in Alcoa Corp. (NYSE:AA)
Dimensional Fund Advisors LP cut its position in Alcoa Corp. (NYSE:AA) by 1.1% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,383,264 shares of the industrial products company’s stock after selling 15,353 shares during the period. Dimensional Fund Advisors LP’s holdings in Alcoa Corp. were worth $47,573,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of AA. Parallel Advisors LLC bought a new stake in Alcoa Corp. during the first quarter worth approximately $133,000. Globeflex Capital L P bought a new stake in Alcoa Corp. during the first quarter worth approximately $669,000. Geode Capital Management LLC boosted its stake in Alcoa Corp. by 7.2% in the first quarter. Geode Capital Management LLC now owns 1,068,751 shares of the industrial products company’s stock worth $36,764,000 after buying an additional 71,719 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Alcoa Corp. by 118.9% in the first quarter. Mackenzie Financial Corp now owns 352,095 shares of the industrial products company’s stock worth $12,112,000 after buying an additional 191,258 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in Alcoa Corp. during the first quarter worth approximately $660,000.
Shares of Alcoa Corp. (AA) opened at 36.40 on Tuesday. Alcoa Corp. has a 12 month low of $20.00 and a 12 month high of $39.78. The company has a market cap of $6.71 billion and a price-to-earnings ratio of 195.70. The firm has a 50-day moving average of $32.11 and a 200 day moving average of $33.31.
Alcoa Corp. (NYSE:AA) last issued its quarterly earnings data on Monday, April 24th. The industrial products company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.15. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the company earned $0.07 EPS. Alcoa Corp.’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, analysts expect that Alcoa Corp. will post $2.85 earnings per share for the current year.
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A number of research analysts have recently issued reports on the stock. BMO Capital Markets set a $45.00 price objective on shares of Alcoa Corp. and gave the company a “buy” rating in a report on Tuesday, July 4th. Morgan Stanley cut shares of Alcoa Corp. from a “top pick” rating to a “buy” rating and lifted their price objective for the company from $43.00 to $47.00 in a report on Tuesday, June 27th. They noted that the move was a valuation call. Deutsche Bank AG reiterated a “hold” rating and set a $44.00 price objective (up from $37.00) on shares of Alcoa Corp. in a report on Sunday, June 25th. ING Group upgraded shares of Alcoa Corp. to a “buy” rating in a report on Friday, June 23rd. Finally, Clarkson Capital assumed coverage on shares of Alcoa Corp. in a report on Monday, May 22nd. They set a “buy” rating and a $43.00 price objective for the company. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Alcoa Corp. presently has a consensus rating of “Buy” and a consensus price target 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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