Sei Investments Co. increased its stake in shares of Alcoa Corp. (NYSE:AA) by 105.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,906 shares of the industrial products company’s stock after buying an additional 86,657 shares during the quarter. Sei Investments Co. owned about 0.09% of Alcoa Corp. worth $8,459,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Gateway Investment Advisers LLC lifted its stake in 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 worth $556,000 after purchasing an additional 73 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Alcoa Corp. by 0.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 35,996 shares of the industrial products company’s stock worth $1,175,000 after purchasing an additional 104 shares during the last quarter. Private Advisor Group LLC lifted its stake in 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 worth $322,000 after purchasing an additional 208 shares during the last quarter. Van ECK Associates Corp lifted its stake in Alcoa Corp. by 3.8% during the second quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock worth $189,000 after purchasing an additional 213 shares during the last quarter. Finally, Lincoln National Corp lifted its stake in Alcoa Corp. by 3.9% during the second quarter. Lincoln National Corp now owns 6,154 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 233 shares during the last quarter.

Shares of Alcoa Corp. (NYSE:AA) opened at $41.39 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. Alcoa Corp. has a 1-year low of $28.01 and a 1-year high of $50.31. The firm has a market capitalization of $7,809.82 and a PE ratio of 20.00.

Alcoa Corp. (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.05). Alcoa Corp. had a return on equity of 4.90% and a net margin of 2.61%. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the business posted $0.32 earnings per share. The business’s revenue was up 27.3% on a year-over-year basis. sell-side analysts predict that Alcoa Corp. will post 3.24 earnings per share for the current year.

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Several equities research analysts have weighed in on AA shares. Gabelli cut Alcoa Corp. from a “buy” rating to a “hold” rating and upped their target price for the stock from $57.00 to $60.00 in a research note on Wednesday, October 4th. Zacks Investment Research upgraded Alcoa Corp. from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Thursday, September 14th. Berenberg Bank set a $44.00 target price on Alcoa Corp. and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Deutsche Bank AG upgraded Alcoa Corp. from a “hold” rating to a “buy” rating and increased their price target for the company from $44.00 to $60.00 in a research note on Tuesday, September 12th. Finally, Credit Suisse Group initiated coverage on Alcoa Corp. in a research note on Wednesday, August 9th. They issued a “neutral” rating and a $42.00 price target for the company. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Alcoa Corp. has an average rating of “Buy” and a consensus price target of $49.88.

About Alcoa Corp.

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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