Alcoa Corp (AA) Shares Bought by SG Americas Securities LLC
SG Americas Securities LLC boosted its stake in shares of Alcoa Corp (NYSE:AA) by 129.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,158 shares of the industrial products company’s stock after buying an additional 53,342 shares during the quarter. SG Americas Securities LLC’s holdings in Alcoa were worth $567,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in AA. Old Mutual Global Investors UK Ltd. increased its position in Alcoa by 163.5% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 4,539,019 shares of the industrial products company’s stock valued at $148,198,000 after purchasing an additional 2,816,320 shares during the period. BT Investment Management Ltd purchased a new position in Alcoa during the 2nd quarter valued at about $83,380,000. Vanguard Group Inc. increased its position in Alcoa by 14.5% during the 2nd quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock valued at $484,895,000 after purchasing an additional 1,885,745 shares during the period. Orbis Allan Gray Ltd increased its position in Alcoa by 454.2% during the 2nd quarter. Orbis Allan Gray Ltd now owns 1,928,763 shares of the industrial products company’s stock valued at $62,974,000 after purchasing an additional 1,580,729 shares during the period. Finally, Elliott Management Corp increased its position in Alcoa by 14.7% during the 2nd quarter. Elliott Management Corp now owns 11,737,457 shares of the industrial products company’s stock valued at $383,228,000 after purchasing an additional 1,500,000 shares during the period.
AA has been the topic of a number of research reports. Gabelli downgraded shares of Alcoa from a “buy” rating to a “hold” rating and raised their target price for the company from $57.00 to $60.00 in a research report on Wednesday, October 4th. Zacks Investment Research raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Thursday, September 14th. Berenberg Bank set a $44.00 price objective on shares of Alcoa and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Deutsche Bank raised shares of Alcoa from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $44.00 to $60.00 in a research report on Tuesday, September 12th. Finally, Macquarie initiated coverage on shares of Alcoa in a research report on Thursday, September 7th. They issued an “outperform” rating on the stock. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $49.88.
Alcoa Corp (AA) opened at $41.40 on Friday. The stock has a market cap of $7,659.95 and a P/E ratio of 19.62. 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 Corp has a 12-month low of $28.01 and a 12-month high of $50.31.
Alcoa (NYSE:AA) last released 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 company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.95 billion. Alcoa had a return on equity of 4.90% and a net margin of 2.61%. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter last year, the business earned $0.32 earnings per share. research analysts forecast that Alcoa Corp will post 3.2 earnings per share for the current year.
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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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