GAM Holding AG acquired a new stake in Alcoa Corp (NYSE:AA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 9,650 shares of the industrial products company’s stock, valued at approximately $452,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AA. Chartwell Investment Partners LLC boosted its stake in shares of Alcoa by 29.0% during the 2nd quarter. Chartwell Investment Partners LLC now owns 35,563 shares of the industrial products company’s stock worth $1,667,000 after buying an additional 7,985 shares during the last quarter. Stevens Capital Management LP lifted its stake in Alcoa by 47.6% in the 2nd quarter. Stevens Capital Management LP now owns 60,661 shares of the industrial products company’s stock valued at $2,844,000 after purchasing an additional 19,573 shares during the last quarter. Swiss National Bank lifted its stake in Alcoa by 0.9% in the 2nd quarter. Swiss National Bank now owns 324,094 shares of the industrial products company’s stock valued at $15,194,000 after purchasing an additional 3,000 shares during the last quarter. Madison Investment Holdings Inc. lifted its stake in Alcoa by 48.0% in the 2nd quarter. Madison Investment Holdings Inc. now owns 226,200 shares of the industrial products company’s stock valued at $10,604,000 after purchasing an additional 73,400 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Alcoa by 3.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,178,196 shares of the industrial products company’s stock valued at $55,234,000 after purchasing an additional 35,831 shares during the last quarter.

Several brokerages recently issued reports on AA. Zacks Investment Research downgraded shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 25th. ValuEngine downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, June 16th. Deutsche Bank cut their target price on shares of Alcoa from $70.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, July 24th. B. Riley began coverage on shares of Alcoa in a research note on Thursday, June 21st. They issued a “neutral” rating and a $47.00 target price for the company. Finally, Morgan Stanley cut their target price on shares of Alcoa from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, July 23rd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $61.06.

Alcoa stock opened at $43.36 on Wednesday. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 0.98 and a beta of -0.23. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27. Alcoa Corp has a twelve month low of $40.03 and a twelve month high of $62.35.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, July 18th. The industrial products company reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.19. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.49 billion. Alcoa had a net margin of 1.11% and a return on equity of 10.30%. The business’s revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. equities analysts forecast that Alcoa Corp will post 4.04 earnings per share for the current fiscal year.

About Alcoa

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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