Parametric Portfolio Associates LLC Raises Stake in Alcoa Corp (AA)

Parametric Portfolio Associates LLC grew its position in Alcoa Corp (NYSE:AA) by 13.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 418,466 shares of the industrial products company’s stock after buying an additional 49,441 shares during the quarter. Parametric Portfolio Associates LLC owned 0.23% of Alcoa Corp worth $13,663,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oxford Asset Management acquired a new position in Alcoa Corp during the 1st quarter worth $499,000. Pacer Advisors Inc. grew its stake in Alcoa Corp by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 132 shares in the last quarter. Prudential Financial Inc. grew its stake in Alcoa Corp by 768.8% during the 1st quarter. Prudential Financial Inc. now owns 258,674 shares of the industrial products company’s stock worth $8,898,000 after purchasing an additional 228,900 shares in the last quarter. SG Americas Securities LLC acquired a new position in Alcoa Corp during the 1st quarter worth $775,000. Finally, Clinton Group Inc. acquired a new position in Alcoa Corp during the 1st quarter worth $277,000.

Several research firms recently commented on AA. Clarkson Capital reissued a “buy” rating on shares of Alcoa Corp in a research note on Thursday, July 20th. BMO Capital Markets set a $45.00 target price on Alcoa Corp and gave the stock a “buy” rating in a research note on Saturday, August 5th. Citigroup Inc. reissued a “buy” rating and set a $53.00 target price on shares of Alcoa Corp in a research note on Friday, September 29th. Gabelli cut Alcoa Corp from a “buy” rating to a “hold” rating and boosted their target price for the stock from $57.00 to $60.00 in a research note on Wednesday, October 4th. Finally, Credit Suisse Group began coverage on Alcoa Corp in a research note on Wednesday, August 9th. They set a “neutral” rating and a $42.00 target price for the company. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $45.53.

Shares of Alcoa Corp (NYSE AA) opened at 47.49 on Monday. The stock has a 50 day moving average price of $45.87 and a 200 day moving average price of $45.87. The stock has a market capitalization of $8.75 billion and a P/E ratio of 54.03. Alcoa Corp has a 12-month low of $20.00 and a 12-month high of $49.30.

Alcoa Corp (NYSE:AA) last issued its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Alcoa Corp had a net margin of 1.63% and a return on equity of 3.29%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, equities analysts anticipate that Alcoa Corp will post $3.00 earnings per share for the current fiscal year.

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Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oxford Asset Management acquired a new position in Alcoa Corp during the 1st quarter worth $499,000. Pacer Advisors Inc. grew its stake in Alcoa Corp by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 132 shares in the last quarter. Prudential Financial Inc. grew its stake in Alcoa Corp by 768.8% during the 1st quarter. Prudential Financial Inc. now owns 258,674 shares of the industrial products company’s stock worth $8,898,000 after purchasing an additional 228,900 shares in the last quarter. SG Americas Securities LLC acquired a new position in Alcoa Corp during the 1st quarter worth $775,000. Finally, Clinton Group Inc. acquired a new position in Alcoa Corp during the 1st quarter worth $277,000.

Several research firms recently commented on AA. Clarkson Capital reissued a “buy” rating on shares of Alcoa Corp in a research note on Thursday, July 20th. BMO Capital Markets set a $45.00 target price on Alcoa Corp and gave the stock a “buy” rating in a research note on Saturday, August 5th. Citigroup Inc. reissued a “buy” rating and set a $53.00 target price on shares of Alcoa Corp in a research note on Friday, September 29th. Gabelli cut Alcoa Corp from a “buy” rating to a “hold” rating and boosted their target price for the stock from $57.00 to $60.00 in a research note on Wednesday, October 4th. Finally, Credit Suisse Group began coverage on Alcoa Corp in a research note on Wednesday, August 9th. They set a “neutral” rating and a $42.00 target price for the company. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $45.53.

Shares of Alcoa Corp (NYSE AA) opened at 47.49 on Monday. The stock has a 50 day moving average price of $45.87 and a 200 day moving average price of $45.87. The stock has a market capitalization of $8.75 billion and a P/E ratio of 54.03. Alcoa Corp has a 12-month low of $20.00 and a 12-month high of $49.30.

Alcoa Corp (NYSE:AA) last issued its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Alcoa Corp had a net margin of 1.63% and a return on equity of 3.29%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, equities analysts anticipate that Alcoa Corp will post $3.00 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This report was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another site, it was illegally stolen and republished in violation of United States and international copyright laws. The original version of this report can be read at https://ledgergazette.com/2017/10/09/parametric-portfolio-associates-llc-raises-stake-in-alcoa-corp-aa.html.

About Alcoa Corp

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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