Alcoa Corp. (AA) Stake Held by ING Groep NV
ING Groep NV continued to hold its position in Alcoa Corp. (NYSE:AA) during the second quarter, Holdings Channel reports. The fund owned 8,659 shares of the industrial products company’s stock at the end of the second quarter. ING Groep NV’s holdings in Alcoa Corp. were worth $283,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in AA. Parallel Advisors LLC purchased a new position in Alcoa Corp. during the first quarter worth about $133,000. Pacer Advisors Inc. boosted its position 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 worth $142,000 after buying an additional 132 shares during the period. NEXT Financial Group Inc boosted its position in 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 worth $146,000 after buying an additional 104 shares during the period. Van ECK Associates Corp boosted its position in Alcoa Corp. by 42.3% in the first quarter. Van ECK Associates Corp now owns 5,566 shares of the industrial products company’s stock worth $191,000 after buying an additional 1,654 shares during the period. Finally, AXA purchased a new position in Alcoa Corp. during the first quarter worth about $206,000.
Shares of Alcoa Corp. (NYSE AA) traded down 0.21% during midday trading on Friday, reaching $37.70. 1,947,798 shares of the company traded hands. The firm has a market capitalization of $6.95 billion and a PE ratio of 42.89. Alcoa Corp. has a 12-month low of $20.53 and a 12-month high of $40.36. The company has a 50-day moving average of $35.38 and a 200 day moving average of $34.37. Alcoa Corp. also was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 20,670 call options on the company. This represents an increase of 456% compared to the typical daily volume of 3,715 call options.
Alcoa Corp. (NYSE:AA) last released its earnings results on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Alcoa Corp. had a net margin of 1.63% and a return on equity of 3.29%. The company’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 earnings per share. On average, equities analysts forecast that Alcoa Corp. will post $2.80 earnings per share for the current year.
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A number of equities analysts have issued reports on the company. BMO Capital Markets reiterated a “buy” rating and set a $45.00 target price on shares of Alcoa Corp. in a report on Friday, June 2nd. Morgan Stanley cut Alcoa Corp. from a “top pick” rating to a “buy” rating and increased their target price for the stock 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 target price on shares of Alcoa Corp. in a report on Wednesday. Citigroup Inc. reiterated a “buy” rating and set a $45.00 target price on shares of Alcoa Corp. in a report on Saturday, July 22nd. Finally, ING Group upgraded Alcoa Corp. to a “buy” rating in a report on Friday, June 23rd. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $39.00.
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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