Old West Investment Management LLC Takes $719,000 Position in Alcoa $AA

Old West Investment Management LLC purchased a new stake in shares of Alcoa (NYSE:AA) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 21,865 shares of the industrial products company’s stock, valued at approximately $719,000.

Several other large investors also recently modified their holdings of AA. Twin Capital Management Inc. lifted its stake in shares of Alcoa by 1.8% in the second quarter. Twin Capital Management Inc. now owns 19,137 shares of the industrial products company’s stock worth $565,000 after acquiring an additional 344 shares in the last quarter. Lesa Sroufe & Co raised its position in shares of Alcoa by 0.5% in the 3rd quarter. Lesa Sroufe & Co now owns 75,504 shares of the industrial products company’s stock valued at $2,483,000 after purchasing an additional 349 shares in the last quarter. CWM LLC boosted its stake in shares of Alcoa by 1.9% during the 2nd quarter. CWM LLC now owns 18,628 shares of the industrial products company’s stock valued at $550,000 after buying an additional 354 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Alcoa by 3.2% during the third quarter. Nisa Investment Advisors LLC now owns 11,581 shares of the industrial products company’s stock worth $381,000 after buying an additional 362 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of Alcoa by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 72,800 shares of the industrial products company’s stock worth $2,148,000 after buying an additional 400 shares in the last quarter.

Alcoa Price Performance

Shares of AA opened at $59.21 on Friday. Alcoa has a 12 month low of $21.53 and a 12 month high of $66.95. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.45 and a quick ratio of 0.87. The stock has a fifty day moving average price of $55.03 and a 200 day moving average price of $41.35. The company has a market cap of $15.33 billion, a P/E ratio of 13.40 and a beta of 1.91.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, research analysts forecast that Alcoa will post 4.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. UBS Group increased their price objective 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. Argus set a $45.00 price target on shares of Alcoa in a research report on Thursday, October 30th. Wells Fargo & Company lowered their price objective on Alcoa from $71.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, January 23rd. HSBC increased their target price on Alcoa from $33.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Alcoa in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $48.25.

Alcoa 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.