Alcoa $AA Holdings Trimmed by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in shares of Alcoa (NYSE:AA) by 8.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 427,680 shares of the industrial products company’s stock after selling 38,291 shares during the quarter. Federated Hermes Inc.’s holdings in Alcoa were worth $14,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Alcoa by 9.8% during the 2nd quarter. State Street Corp now owns 10,737,466 shares of the industrial products company’s stock valued at $316,863,000 after buying an additional 959,240 shares during the last quarter. L1 Capital Pty Ltd grew its holdings in Alcoa by 178.8% in the 2nd quarter. L1 Capital Pty Ltd now owns 4,814,342 shares of the industrial products company’s stock valued at $142,071,000 after buying an additional 3,087,298 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Alcoa by 4.8% in the second quarter. Geode Capital Management LLC now owns 4,637,897 shares of the industrial products company’s stock worth $136,898,000 after acquiring an additional 211,141 shares during the last quarter. Norges Bank bought a new stake in Alcoa in the 2nd quarter valued at $97,933,000. Finally, ARGA Investment Management LP lifted its stake in shares of Alcoa by 2.8% in the second quarter. ARGA Investment Management LP now owns 3,018,772 shares of the industrial products company’s stock valued at $89,084,000 after buying an additional 83,410 shares during the period.

Alcoa Stock Down 6.4%

NYSE:AA opened at $56.74 on Friday. The stock has a 50-day moving average price of $53.23 and a two-hundred day moving average price of $40.42. Alcoa has a 1 year low of $21.53 and a 1 year high of $66.95. The company has a current ratio of 1.45, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40. The stock has a market cap of $14.69 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.22 and a beta of 1.95.

Alcoa (NYSE:AA) last announced its earnings results on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.95 by $0.31. Alcoa had a net margin of 9.12% and a return on equity of 16.18%. The firm had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period last year, the company posted $1.04 EPS. The business’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities analysts expect that Alcoa will post 4.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AA has been the subject of several research reports. B. Riley reaffirmed a “buy” rating on shares of Alcoa in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a report on Monday, December 29th. HSBC raised their target price on Alcoa from $33.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, October 17th. UBS Group increased their price target on shares of Alcoa from $42.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Finally, BMO Capital Markets raised their price target on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $48.25.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.