Beck Capital Management LLC Acquires 9,300 Shares of Alcoa Corp (AA)
Beck Capital Management LLC grew its holdings in shares of Alcoa Corp (NYSE:AA) by 51.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,295 shares of the industrial products company’s stock after purchasing an additional 9,300 shares during the quarter. Beck Capital Management LLC’s holdings in Alcoa were worth $1,272,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. State of Wisconsin Investment Board boosted its stake in Alcoa 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 purchasing an additional 12,650 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Alcoa by 14.3% during the 2nd quarter. Rhumbline Advisers now owns 172,839 shares of the industrial products company’s stock valued at $5,643,000 after acquiring an additional 21,642 shares during the last quarter. Elliott Management Corp boosted its position in shares of Alcoa 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 acquiring an additional 1,500,000 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Alcoa during the 2nd quarter valued at about $10,324,000. Finally, Commonwealth Bank of Australia boosted its position in shares of Alcoa by 45.2% during the 2nd quarter. Commonwealth Bank of Australia now owns 82,593 shares of the industrial products company’s stock valued at $2,696,000 after acquiring an additional 25,700 shares during the last quarter.
AA has been the topic of several recent research reports. Gabelli cut shares of Alcoa from a “buy” rating to a “hold” rating and boosted their price target for the company from $57.00 to $60.00 in a research report on Wednesday, October 4th. Zacks Investment Research raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Thursday, September 14th. Berenberg Bank set a $44.00 price target on shares of Alcoa and gave the company a “hold” rating in a research report on Wednesday, October 18th. Deutsche Bank raised shares of Alcoa from a “hold” rating to a “buy” rating and boosted their price target for the company from $44.00 to $60.00 in a research report on Tuesday, September 12th. Finally, Credit Suisse Group initiated coverage on shares of Alcoa in a research report 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, twelve have issued a buy rating and two have given a strong buy rating to the company. Alcoa currently has an average rating of “Buy” and a consensus price target of $49.88.
Shares of Alcoa Corp (AA) opened at $41.18 on Wednesday. The stock has a market cap of $7,732.11 and a PE ratio of 19.81. Alcoa Corp has a fifty-two week low of $28.01 and a fifty-two week high of $50.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 0.90.
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 company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Alcoa had a net margin of 2.61% and a return on equity of 4.90%. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. equities analysts predict that Alcoa Corp will post 3.2 earnings per share for the current year.
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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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