Korea Investment CORP bought a new stake in shares of Alcoa Corp (NYSE:AA) in the second quarter, HoldingsChannel reports. The institutional investor bought 7,000 shares of the industrial products company’s stock, valued at approximately $328,000.

Several other large investors also recently added to or reduced their stakes in AA. Swiss National Bank lifted its position in shares of Alcoa by 2.3% during the 1st quarter. Swiss National Bank now owns 321,094 shares of the industrial products company’s stock worth $14,436,000 after buying an additional 7,100 shares during the last quarter. M&T Bank Corp lifted its position in shares of Alcoa by 15.8% during the 1st quarter. M&T Bank Corp now owns 11,636 shares of the industrial products company’s stock worth $523,000 after buying an additional 1,589 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Alcoa by 50.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,142,365 shares of the industrial products company’s stock worth $51,361,000 after buying an additional 382,834 shares during the last quarter. Aperio Group LLC lifted its position in shares of Alcoa by 13.2% during the 1st quarter. Aperio Group LLC now owns 54,061 shares of the industrial products company’s stock worth $2,431,000 after buying an additional 6,302 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of Alcoa by 262.8% during the 1st quarter. Neuberger Berman Group LLC now owns 24,461 shares of the industrial products company’s stock worth $1,100,000 after buying an additional 17,718 shares during the last quarter.

AA has been the subject of several recent analyst reports. Deutsche Bank dropped their price objective on Alcoa from $70.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, July 24th. Morgan Stanley dropped their price objective on Alcoa from $60.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, July 23rd. ValuEngine upgraded Alcoa from a “hold” rating to a “buy” rating in a research report on Thursday, July 5th. Deutsche Bank set a $70.00 price objective on Alcoa and gave the stock a “buy” rating in a research report on Wednesday, May 30th. Finally, Jefferies Financial Group set a $65.00 price objective on Alcoa and gave the stock a “buy” rating in a research report on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $61.24.

Shares of AA opened at $42.83 on Tuesday. Alcoa Corp has a 12-month low of $40.03 and a 12-month high of $62.35. The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 2.30 and a beta of -0.23.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, July 18th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.19. Alcoa had a return on equity of 10.30% and a net margin of 1.11%. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The business’s revenue for the quarter was up 25.2% compared to the same quarter last year. research analysts forecast that Alcoa Corp will post 4.1 earnings per share for the current fiscal year.

About Alcoa

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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