Mitsubishi UFJ Trust & Banking Corp Invests $1.14 Million in Alcoa $AA

Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Alcoa (NYSE:AA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 34,795 shares of the industrial products company’s stock, valued at approximately $1,144,000.

Several other large investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Alcoa by 9.8% in the second quarter. State Street Corp now owns 10,737,466 shares of the industrial products company’s stock worth $316,863,000 after purchasing an additional 959,240 shares in the last quarter. L1 Capital Pty Ltd lifted its stake in shares of Alcoa by 178.8% during 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 in the last quarter. Geode Capital Management LLC increased its stake in Alcoa by 4.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,637,897 shares of the industrial products company’s stock worth $136,898,000 after buying an additional 211,141 shares in the last quarter. Norges Bank purchased a new stake in Alcoa in the 2nd quarter worth $97,933,000. Finally, ARGA Investment Management LP raised its holdings in Alcoa by 2.8% during 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 acquiring an additional 83,410 shares during the period.

Alcoa Trading Down 6.4%

Shares of AA opened at $56.74 on Friday. The stock has a market capitalization of $14.69 billion, a PE ratio of 12.84, a P/E/G ratio of 0.22 and a beta of 1.95. The company’s fifty day moving average is $53.23 and its 200 day moving average is $40.42. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 1.45. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $66.95.

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

Wall Street Analysts Forecast Growth

AA has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a research note on Monday, December 29th. BMO Capital Markets boosted their price target on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Wells Fargo & Company dropped their price target on Alcoa from $71.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. UBS Group lifted their price objective on shares of Alcoa from $42.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $50.00 target price (up previously from $45.00) on shares of Alcoa in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alcoa currently has an average rating of “Hold” and an average target price 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.