WealthTrust Axiom LLC reduced its position in Alcoa Corp. (NYSE:AA) by 65.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,449 shares of the industrial products company’s stock after selling 27,368 shares during the period. WealthTrust Axiom LLC’s holdings in Alcoa Corp. were worth $471,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Gateway Investment Advisers LLC boosted its position in shares of Alcoa Corp. by 0.4% in the second quarter. Gateway Investment Advisers LLC now owns 17,020 shares of the industrial products company’s stock valued at $556,000 after buying an additional 73 shares during the period. NEXT Financial Group Inc boosted its position in shares of Alcoa Corp. by 2.4% in the second quarter. NEXT Financial Group Inc now owns 4,462 shares of the industrial products company’s stock valued at $146,000 after buying an additional 104 shares during the period. Pacer Advisors Inc. boosted its position in shares of 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 period. Clearbridge Investments LLC boosted its position in shares of Alcoa Corp. by 2.5% in the first quarter. Clearbridge Investments LLC now owns 7,780 shares of the industrial products company’s stock valued at $268,000 after buying an additional 190 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Alcoa Corp. by 3.1% in the second quarter. IFP Advisors Inc now owns 11,731 shares of the industrial products company’s stock valued at $383,000 after buying an additional 358 shares during the period.

Shares of Alcoa Corp. (AA) opened at 37.42 on Monday. The firm’s 50-day moving average price is $33.95 and its 200 day moving average price is $34.19. Alcoa Corp. has a 52 week low of $20.00 and a 52 week high of $39.78. The company has a market cap of $6.89 billion and a price-to-earnings ratio of 42.23.

Alcoa Corp. (NYSE:AA) last issued its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Alcoa Corp. had a return on equity of 3.29% and a net margin of 1.63%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the business posted $0.15 EPS. Alcoa Corp.’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, equities research analysts forecast that Alcoa Corp. will post $2.80 EPS for the current year.

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AA has been the subject of several recent research reports. Zacks Investment Research upgraded Alcoa Corp. from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Tuesday, April 11th. Citigroup Inc. reiterated a “buy” rating and issued a $45.00 price target on shares of Alcoa Corp. in a research report on Friday, May 19th. BMO Capital Markets reiterated a “buy” rating and issued a $45.00 price target on shares of Alcoa Corp. in a research report on Friday, June 2nd. Morgan Stanley cut Alcoa Corp. from a “top pick” rating to a “buy” rating and lifted their price target for the company from $43.00 to $47.00 in a research report on Tuesday, June 27th. They noted that the move was a valuation call. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $44.00 price target (up from $37.00) on shares of Alcoa Corp. in a research report on Sunday, June 25th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average 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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Institutional Ownership by Quarter for Alcoa Corp. (NYSE:AA)

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