Alcoa Corp (AA) Shares Bought by Cornerstone Capital Management Holdings LLC.
Cornerstone Capital Management Holdings LLC. lifted its holdings in shares of Alcoa Corp (NYSE:AA) by 256.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,886 shares of the industrial products company’s stock after buying an additional 53,906 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Alcoa were worth $3,490,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State of Wisconsin Investment Board lifted its stake in shares of Alcoa by 9.5% in the 2nd quarter. State of Wisconsin Investment Board now owns 146,169 shares of the industrial products company’s stock valued at $4,772,000 after purchasing an additional 12,650 shares during the last quarter. Rhumbline Advisers lifted its stake in Alcoa 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 acquiring an additional 21,642 shares in the last quarter. Elliott Management Corp lifted its stake in Alcoa by 14.7% during the 2nd quarter. Elliott Management Corp now owns 11,737,457 shares of the industrial products company’s stock worth $383,228,000 after acquiring an additional 1,500,000 shares in the last quarter. Jennison Associates LLC acquired a new position in Alcoa during the 2nd quarter worth about $10,324,000. Finally, Commonwealth Bank of Australia lifted its stake in Alcoa by 45.2% during the 2nd quarter. Commonwealth Bank of Australia now owns 82,593 shares of the industrial products company’s stock worth $2,696,000 after acquiring an additional 25,700 shares in the last quarter.
A number of research analysts have recently commented on the company. Deutsche Bank upgraded Alcoa from a “hold” rating to a “buy” rating and increased their price objective for the company from $44.00 to $60.00 in a report on Tuesday, September 12th. BMO Capital Markets increased their price objective on Alcoa from $45.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, September 13th. Citigroup reiterated a “buy” rating and issued a $55.00 price objective (up previously from $53.00) on shares of Alcoa in a report on Friday, October 20th. Zacks Investment Research downgraded Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Finally, J P Morgan Chase & Co restated a “buy” rating and set a $60.00 price target on shares of Alcoa in a research note on Thursday, October 19th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $51.40.
Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.05). The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.95 billion. Alcoa had a return on equity of 4.90% and a net margin of 2.61%. The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. analysts predict that Alcoa Corp will post 3.2 EPS for the current year.
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.
Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.