Versor Investments LP Sells 17,386 Shares of Alcoa $AA

Versor Investments LP lessened its position in shares of Alcoa (NYSE:AA) by 58.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,500 shares of the industrial products company’s stock after selling 17,386 shares during the quarter. Versor Investments LP’s holdings in Alcoa were worth $411,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prospera Financial Services Inc raised its holdings in Alcoa by 29.7% during the 3rd quarter. Prospera Financial Services Inc now owns 11,877 shares of the industrial products company’s stock worth $391,000 after purchasing an additional 2,722 shares during the last quarter. Blume Capital Management Inc. grew its position in shares of Alcoa by 2.4% during the 3rd quarter. Blume Capital Management Inc. now owns 45,645 shares of the industrial products company’s stock worth $1,501,000 after buying an additional 1,050 shares during the period. Aegis Wealth Management LLC bought a new stake in shares of Alcoa during the third quarter worth approximately $329,000. Alps Advisors Inc. lifted its holdings in Alcoa by 31.2% in the third quarter. Alps Advisors Inc. now owns 13,715 shares of the industrial products company’s stock valued at $451,000 after buying an additional 3,259 shares during the period. Finally, Old West Investment Management LLC bought a new position in Alcoa in the third quarter valued at approximately $719,000.

Alcoa Price Performance

Shares of NYSE AA opened at $60.47 on Friday. The company has a fifty day moving average price of $56.56 and a 200 day moving average price of $42.19. The firm has a market cap of $15.66 billion, a PE ratio of 13.68 and a beta of 1.91. The company has a current ratio of 1.45, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40. Alcoa has a 1-year low of $21.53 and a 1-year high of $66.95.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.31. Alcoa had a return on equity of 16.18% and a net margin of 9.12%.The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the previous year, the company posted $1.04 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Alcoa in a research report on Monday, December 29th. Morgan Stanley reiterated an “overweight” rating and issued a $52.00 price objective on shares of Alcoa in a report on Monday, December 15th. Citigroup increased their target price on Alcoa from $42.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, December 19th. UBS Group lifted their price objective on shares of Alcoa from $42.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Finally, Argus set a $45.00 target price on shares of Alcoa in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.25.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.