Bluestein R H & Co. Invests $272,000 in Alcoa Corp (AA) Stock
Bluestein R H & Co. acquired a new position in Alcoa Corp (NYSE:AA) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,833 shares of the industrial products company’s stock, valued at approximately $272,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Huntington National Bank bought a new position in Alcoa in the 3rd quarter valued at $112,000. Sigma Planning Corp bought a new position in Alcoa in the 3rd quarter valued at $206,000. Pacer Advisors Inc. boosted its holdings in Alcoa by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 4,488 shares of the industrial products company’s stock valued at $147,000 after purchasing an additional 348 shares during the period. Zweig DiMenna Associates LLC bought a new position in Alcoa in the 3rd quarter valued at $214,000. Finally, Wedbush Securities Inc. bought a new position in Alcoa in the 3rd quarter valued at $223,000.
Several research firms have recently weighed in on AA. Gabelli cut shares of Alcoa from a “buy” rating to a “hold” rating and raised their price objective for the company from $57.00 to $60.00 in a research report on Wednesday, October 4th. Berenberg Bank set a $44.00 price objective on shares of Alcoa and gave the company a “hold” rating in a research report on Wednesday, October 18th. J P Morgan Chase & Co restated a “buy” rating and set a $60.00 price objective on shares of Alcoa in a research report on Thursday, October 19th. Macquarie restated a “buy” rating and set a $62.00 price objective (up previously from $55.00) on shares of Alcoa in a research report on Tuesday, October 10th. Finally, Cowen set a $51.00 price objective on shares of Alcoa and gave the company a “hold” rating in a research report on Wednesday, October 11th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $49.88.
Alcoa Corp (NYSE:AA) opened at $41.18 on Wednesday. The company has a market cap of $7,732.11 and a price-to-earnings ratio of 19.81. Alcoa Corp has a 52-week low of $28.01 and a 52-week high of $50.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 0.90.
Alcoa (NYSE:AA) last issued its earnings results on Wednesday, October 18th. The industrial products company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.05). The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Alcoa had a return on equity of 4.90% and a net margin of 2.61%. Alcoa’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 EPS. analysts forecast that Alcoa Corp will post 3.2 earnings per share for the current year.
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.
Receive News & Ratings for Alcoa Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa Corp and related companies with MarketBeat.com's FREE daily email newsletter.