Hsbc Holdings PLC lifted its holdings in shares of Alcoa Corp (NYSE:AA) by 108.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,162 shares of the industrial products company’s stock after buying an additional 71,249 shares during the period. Hsbc Holdings PLC owned approximately 0.07% of Alcoa worth $3,646,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Alcoa in the fourth quarter worth about $991,000. Great West Life Assurance Co. Can raised its stake in shares of Alcoa by 3.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 61,525 shares of the industrial products company’s stock worth $1,577,000 after buying an additional 1,960 shares during the period. NumerixS Investment Technologies Inc raised its stake in shares of Alcoa by 240.3% in the fourth quarter. NumerixS Investment Technologies Inc now owns 9,869 shares of the industrial products company’s stock worth $263,000 after buying an additional 6,969 shares during the period. Masters Capital Management LLC bought a new position in shares of Alcoa in the fourth quarter worth about $7,974,000. Finally, Alambic Investment Management L.P. bought a new position in shares of Alcoa in the fourth quarter worth about $290,000.
Shares of AA opened at $27.84 on Friday. The company has a market cap of $5.16 billion, a P/E ratio of 7.78, a price-to-earnings-growth ratio of 3.74 and a beta of 1.14. Alcoa Corp has a 12-month low of $25.01 and a 12-month high of $62.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.85 and a current ratio of 1.42.
Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, January 16th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.16. Alcoa had a return on equity of 9.21% and a net margin of 1.69%. The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter in the previous year, the company posted $1.04 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts expect that Alcoa Corp will post 1.89 EPS for the current year.
Several research firms have recently commented on AA. ValuEngine raised Alcoa from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 20th. Zacks Investment Research raised Alcoa from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 3rd. Goldman Sachs Group raised Alcoa from a “neutral” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Monday, January 14th. JPMorgan Chase & Co. decreased their target price on Alcoa to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, January 17th. Finally, Credit Suisse Group decreased their target price on Alcoa from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, January 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Alcoa has a consensus rating of “Buy” and a consensus price target of $53.27.
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Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.
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