Zurcher Kantonalbank Zurich Cantonalbank raised its position in Alcoa Corp. (NYSE:AA) by 17.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 8,415 shares of the industrial products company’s stock after purchasing an additional 1,254 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alcoa Corp. were worth $275,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. State of Wisconsin Investment Board lifted its holdings in Alcoa Corp. by 9.5% in the 2nd quarter. State of Wisconsin Investment Board now owns 146,169 shares of the industrial products company’s stock valued at $4,772,000 after purchasing an additional 12,650 shares in the last quarter. Bank of Montreal Can lifted its holdings in Alcoa Corp. by 18.2% in the 2nd quarter. Bank of Montreal Can now owns 1,184,271 shares of the industrial products company’s stock valued at $38,666,000 after purchasing an additional 182,736 shares in the last quarter. SG Americas Securities LLC purchased a new position in Alcoa Corp. in the 1st quarter valued at $775,000. Rhumbline Advisers lifted its holdings in Alcoa Corp. by 14.3% in the 2nd quarter. Rhumbline Advisers now owns 172,839 shares of the industrial products company’s stock valued at $5,643,000 after purchasing an additional 21,642 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Alcoa Corp. by 16.3% in the 1st quarter. Private Advisor Group LLC now owns 9,225 shares of the industrial products company’s stock valued at $312,000 after purchasing an additional 1,294 shares in the last quarter.

Shares of Alcoa Corp. (AA) opened at 44.79 on Friday. The company has a 50-day moving average of $44.58 and a 200 day moving average of $39.77. The stock has a market capitalization of $8.26 billion and a price-to-earnings ratio of 50.96. Alcoa Corp. has a one year low of $20.00 and a one year high of $45.20.

Alcoa Corp. (NYSE:AA) last released its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. Alcoa Corp. had a return on equity of 3.29% and a net margin of 1.63%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period last year, the business posted $0.15 EPS. Equities research analysts forecast that Alcoa Corp. will post $2.92 earnings per share for the current fiscal year.

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A number of brokerages have weighed in on AA. Zacks Investment Research upgraded Alcoa Corp. from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Thursday. BMO Capital Markets raised their price objective on Alcoa Corp. from $4.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday. Deutsche Bank AG upgraded Alcoa Corp. from a “hold” rating to a “buy” rating and raised their price objective for the company from $4.00 to $60.00 in a report on Tuesday. Macquarie began coverage on Alcoa Corp. in a report on Thursday, September 7th. They issued an “outperform” rating on the stock. Finally, Credit Suisse Group began coverage on Alcoa Corp. in a report on Wednesday, August 9th. They issued a “neutral” rating and a $42.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $40.07.

Alcoa Corp. Profile

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.

Institutional Ownership by Quarter for Alcoa Corp. (NYSE:AA)

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