BlackRock Inc. lifted its position in shares of Alcoa Corp (NYSE:AA) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,525,897 shares of the industrial products company’s stock after acquiring an additional 340,639 shares during the quarter. BlackRock Inc. owned 5.11% of Alcoa worth $253,197,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of AA. Capital World Investors boosted its stake in shares of Alcoa by 23.3% during the 3rd quarter. Capital World Investors now owns 23,593,647 shares of the industrial products company’s stock worth $953,183,000 after acquiring an additional 4,459,077 shares in the last quarter. FMR LLC boosted its stake in shares of Alcoa by 191.0% during the 3rd quarter. FMR LLC now owns 2,137,654 shares of the industrial products company’s stock worth $86,360,000 after acquiring an additional 1,403,132 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Alcoa during the 4th quarter worth about $24,002,000. Dimensional Fund Advisors LP boosted its stake in shares of Alcoa by 23.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,310,667 shares of the industrial products company’s stock worth $174,152,000 after acquiring an additional 831,410 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Alcoa by 282.5% during the 4th quarter. Prudential Financial Inc. now owns 1,076,685 shares of the industrial products company’s stock worth $28,619,000 after purchasing an additional 795,194 shares during the last quarter.
Several research analysts recently weighed in on AA shares. Goldman Sachs Group upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Monday, January 14th. JPMorgan Chase & Co. reduced their price target on shares of Alcoa to $52.00 and set an “overweight” rating for the company in a research report on Thursday, January 17th. ValuEngine downgraded shares of Alcoa from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 27th. Credit Suisse Group reduced their price target on shares of Alcoa from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, December 7th. Finally, Berenberg Bank set a $42.00 price target on shares of Alcoa and gave the stock a “buy” rating in a research report on Monday, January 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $53.27.
AA stock opened at $27.84 on Friday. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 7.78, a price-to-earnings-growth ratio of 3.74 and a beta of 1.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.42 and a quick ratio of 0.85. Alcoa Corp has a 12 month low of $25.01 and a 12 month high of $62.35.
Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, January 16th. The industrial products company reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.16. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.31 billion. Alcoa had a net margin of 1.69% and a return on equity of 9.21%. Alcoa’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. On average, sell-side analysts expect that Alcoa Corp will post 1.89 earnings per share for the current year.
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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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