Monaco Asset Management SAM Boosts Holdings in Alcoa $AA

Monaco Asset Management SAM boosted its holdings in shares of Alcoa (NYSE:AA) by 177.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 250,000 shares of the industrial products company’s stock after buying an additional 160,000 shares during the quarter. Alcoa makes up about 0.5% of Monaco Asset Management SAM’s investment portfolio, making the stock its 12th largest holding. Monaco Asset Management SAM’s holdings in Alcoa were worth $8,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its stake in shares of Alcoa by 1,098.0% during the 1st quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 10,727 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Alcoa by 0.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock worth $19,722,000 after purchasing an additional 4,624 shares during the period. CWM LLC grew its holdings in Alcoa by 1.9% during the second quarter. CWM LLC now owns 18,628 shares of the industrial products company’s stock valued at $550,000 after purchasing an additional 354 shares during the period. Nordea Investment Management AB purchased a new stake in Alcoa in the second quarter worth about $1,433,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Alcoa in the second quarter worth about $812,000.

Alcoa Price Performance

Shares of Alcoa stock opened at $60.38 on Friday. The firm has a market cap of $15.63 billion, a PE ratio of 13.66 and a beta of 1.91. The stock has a 50 day moving average of $58.32 and a 200 day moving average of $43.43. 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 12 month low of $21.53 and a 12 month high of $66.95.

Alcoa (NYSE:AA) last released its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.95 by $0.31. The business had revenue of ($1,130.00) million during the quarter, compared to analyst estimates of $3.28 billion. Alcoa had a net margin of 9.12% and a return on equity of 16.18%. Alcoa’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.04 earnings per share. On average, research analysts expect that Alcoa will post 4.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AA has been the subject of a number of recent research reports. Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group upped their price target on shares of Alcoa from $42.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Citigroup raised their price objective on shares of Alcoa from $42.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Zacks Research cut shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 13th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Alcoa in a report on Friday, January 23rd. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.25.

Alcoa Profile

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.