Cambria Investment Management L.P. trimmed its position in shares of Alcoa Corp (NYSE:AA) by 11.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,480 shares of the industrial products company’s stock after selling 5,900 shares during the quarter. Cambria Investment Management L.P.’s holdings in Alcoa Corp were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Gateway Investment Advisers LLC grew its stake in shares of Alcoa Corp by 0.4% during the second quarter. Gateway Investment Advisers LLC now owns 17,020 shares of the industrial products company’s stock valued at $556,000 after purchasing an additional 73 shares during the last quarter. NEXT Financial Group Inc grew its stake in shares of Alcoa Corp by 2.4% during the second quarter. NEXT Financial Group Inc now owns 4,462 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 104 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Alcoa Corp by 3.3% during the first quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 132 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Alcoa Corp by 2.5% during the first quarter. Clearbridge Investments LLC now owns 7,780 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 190 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of Alcoa Corp by 2.3% during the second quarter. Private Advisor Group LLC now owns 9,433 shares of the industrial products company’s stock valued at $322,000 after purchasing an additional 208 shares during the last quarter.

Alcoa Corp (NYSE AA) traded down 0.17% during midday trading on Thursday, reaching $47.83. 1,105,799 shares of the company’s stock traded hands. Alcoa Corp has a 1-year low of $20.00 and a 1-year high of $49.30. The stock’s 50 day moving average price is $45.66 and its 200 day moving average price is $45.66. The firm has a market cap of $8.82 billion and a price-to-earnings ratio of 54.41.

Alcoa Corp (NYSE:AA) last posted its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $0.62 EPS for the quarter, beating the Zacks’ 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 company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the firm posted $0.15 EPS. The company’s quarterly revenue was up 23.1% on a year-over-year basis. Equities research analysts anticipate that Alcoa Corp will post $2.96 EPS for the current year.

Several research firms have 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 price target on shares of Alcoa Corp and gave the company a “buy” rating in a research note on Saturday, August 5th. Citigroup Inc. reissued a “buy” rating and set a $53.00 price target on shares of Alcoa Corp in a research note on Friday, September 29th. Gabelli cut shares of Alcoa Corp from a “buy” rating to a “hold” rating and increased their price target for the company from $57.00 to $60.00 in a research note on Wednesday. Finally, Credit Suisse Group began coverage on shares of Alcoa Corp in a research note on Wednesday, August 9th. They set a “neutral” rating and a $42.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $45.53.

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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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Institutional Ownership by Quarter for Alcoa Corp (NYSE:AA)

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