Profit Investment Management LLC Acquires New Stake in Alcoa Corp (AA)

Profit Investment Management LLC acquired a new stake in shares of Alcoa Corp (NYSE:AA) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 18,974 shares of the industrial products company’s stock, valued at approximately $885,000.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Alcoa Corp 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 in the last quarter. Elliott Management Corp boosted its position in shares of Alcoa Corp 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 in the last quarter. Balyasny Asset Management LLC boosted its position in shares of Alcoa Corp by 22.8% during the 2nd quarter. Balyasny Asset Management LLC now owns 7,848,750 shares of the industrial products company’s stock valued at $256,262,000 after purchasing an additional 1,458,488 shares in the last quarter. BlackRock Inc. boosted its position in shares of Alcoa Corp by 14.1% during the 2nd quarter. BlackRock Inc. now owns 7,779,093 shares of the industrial products company’s stock valued at $253,986,000 after purchasing an additional 958,494 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its position in shares of Alcoa Corp 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 in the last quarter.

Several brokerages have commented on AA. Clarkson Capital reiterated a “buy” rating on shares of Alcoa Corp in a report on Thursday, July 20th. Citigroup Inc. reiterated a “buy” rating and issued a $55.00 target price (up from $53.00) on shares of Alcoa Corp in a report on Friday. Berenberg Bank set a $44.00 target price on shares of Alcoa Corp and gave the stock a “hold” rating in a report on Wednesday. BMO Capital Markets set a $45.00 target price on shares of Alcoa Corp and gave the stock a “buy” rating in a report on Saturday, August 5th. Finally, J P Morgan Chase & Co reiterated a “buy” rating and issued a $60.00 target price on shares of Alcoa Corp in a report on Thursday. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Alcoa Corp has an average rating of “Buy” and an average target price of $49.88.

ILLEGAL ACTIVITY WARNING: This piece of content was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another website, it was stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece of content can be accessed at https://ledgergazette.com/2017/10/20/profit-investment-management-llc-acquires-new-stake-in-alcoa-corp-aa.html.

Alcoa Corp (NYSE:AA) traded up 2.99% during mid-day trading on Friday, hitting $47.93. 4,204,274 shares of the stock were exchanged. The firm has a 50-day moving average price of $46.32 and a 200-day moving average price of $46.32. Alcoa Corp has a 12-month low of $20.00 and a 12-month high of $49.30. The stock has a market capitalization of $8.84 billion and a P/E ratio of 54.53.

Alcoa Corp (NYSE:AA) last announced its quarterly earni

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Alcoa Corp 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 in the last quarter. Elliott Management Corp boosted its position in shares of Alcoa Corp 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 in the last quarter. Balyasny Asset Management LLC boosted its position in shares of Alcoa Corp by 22.8% during the 2nd quarter. Balyasny Asset Management LLC now owns 7,848,750 shares of the industrial products company’s stock valued at $256,262,000 after purchasing an additional 1,458,488 shares in the last quarter. BlackRock Inc. boosted its position in shares of Alcoa Corp by 14.1% during the 2nd quarter. BlackRock Inc. now owns 7,779,093 shares of the industrial products company’s stock valued at $253,986,000 after purchasing an additional 958,494 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its position in shares of Alcoa Corp 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 in the last quarter.

Several brokerages have commented on AA. Clarkson Capital reiterated a “buy” rating on shares of Alcoa Corp in a report on Thursday, July 20th. Citigroup Inc. reiterated a “buy” rating and issued a $55.00 target price (up from $53.00) on shares of Alcoa Corp in a report on Friday. Berenberg Bank set a $44.00 target price on shares of Alcoa Corp and gave the stock a “hold” rating in a report on Wednesday. BMO Capital Markets set a $45.00 target price on shares of Alcoa Corp and gave the stock a “buy” rating in a report on Saturday, August 5th. Finally, J P Morgan Chase & Co reiterated a “buy” rating and issued a $60.00 target price on shares of Alcoa Corp in a report on Thursday. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Alcoa Corp has an average rating of “Buy” and an average target price of $49.88.

ILLEGAL ACTIVITY WARNING: This piece of content was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another website, it was stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece of content can be accessed at https://ledgergazette.com/2017/10/20/profit-investment-management-llc-acquires-new-stake-in-alcoa-corp-aa.html.

Alcoa Corp (NYSE:AA) traded up 2.99% during mid-day trading on Friday, hitting $47.93. 4,204,274 shares of the stock were exchanged. The firm has a 50-day moving average price of $46.32 and a 200-day moving average price of $46.32. Alcoa Corp has a 12-month low of $20.00 and a 12-month high of $49.30. The stock has a market capitalization of $8.84 billion and a P/E ratio of 54.53.

Alcoa Corp (NYSE:AA) last announced its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.05). Alcoa Corp had a return on equity of 4.91% and a net margin of 2.61%. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. Equities analysts predict that Alcoa Corp will post $3.15 earnings per share for the current fiscal year.

Alcoa Corp Company Profile

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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