Alcoa Corp (AA) Holdings Raised by New York State Common Retirement Fund
New York State Common Retirement Fund grew its position in shares of Alcoa Corp (NYSE:AA) by 25.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 403,940 shares of the industrial products company’s stock after buying an additional 82,399 shares during the period. New York State Common Retirement Fund owned about 0.22% of Alcoa Corp worth $13,189,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. State of Wisconsin Investment Board lifted its holdings in Alcoa Corp by 9.5% during the 2nd quarter. State of Wisconsin Investment Board now owns 146,169 shares of the industrial products company’s stock worth $4,772,000 after buying an additional 12,650 shares during the last quarter. Bank of Montreal Can lifted its holdings in Alcoa Corp by 18.2% during the 2nd quarter. Bank of Montreal Can now owns 1,184,271 shares of the industrial products company’s stock worth $38,666,000 after buying an additional 182,736 shares during the last quarter. Rhumbline Advisers lifted its holdings in Alcoa Corp by 14.3% during the 2nd quarter. Rhumbline Advisers now owns 172,839 shares of the industrial products company’s stock worth $5,643,000 after buying an additional 21,642 shares during the last quarter. SG Americas Securities LLC bought a new position in Alcoa Corp during the 1st quarter worth approximately $775,000. Finally, Jennison Associates LLC bought a new position in Alcoa Corp during the 2nd quarter worth approximately $10,324,000.
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AA has been the topic of a number of research analyst reports. Deutsche Bank AG raised Alcoa Corp from a “hold” rating to a “buy” rating and increased their target price for the stock from $44.00 to $60.00 in a report on Tuesday, September 12th. Citigroup Inc. reaffirmed a “buy” rating and set a $45.00 target price on shares of Alcoa Corp in a report on Saturday, July 22nd. BMO Capital Markets set a $45.00 target price on Alcoa Corp and gave the stock a “buy” rating in a report on Saturday, August 5th. Morgan Stanley downgraded Alcoa Corp from a “top pick” rating to a “buy” rating and increased their target price for the stock from $43.00 to $47.00 in a report on Tuesday, June 27th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Alcoa Corp from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Thursday, September 14th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Alcoa Corp has an average rating of “Buy” and a consensus target price of $45.53.
Shares of Alcoa Corp (NYSE AA) opened at 48.25 on Friday. Alcoa Corp has a 52-week low of $20.00 and a 52-week high of $49.30. The firm has a market capitalization of $8.89 billion and a PE ratio of 54.89. The company has a 50-day moving average price of $45.79 and a 200 day moving average price of $45.79.
Alcoa Corp (NYSE:AA) last announced its 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. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. Alcoa Corp had a return on equity of 3.29% and a net margin of 1.63%. Alcoa Corp’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 EPS. Analysts expect that Alcoa Corp will post $3.00 EPS for the current fiscal year.
Alcoa Corp 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.
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