Freemont Management S.A. Acquires 25,000 Shares of Alcoa $AA

Freemont Management S.A. boosted its holdings in Alcoa (NYSE:AA) by 50.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,000 shares of the industrial products company’s stock after purchasing an additional 25,000 shares during the quarter. Alcoa makes up approximately 1.2% of Freemont Management S.A.’s holdings, making the stock its 23rd biggest position. Freemont Management S.A.’s holdings in Alcoa were worth $2,467,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. IFP Advisors Inc lifted its holdings in shares of Alcoa by 1,096.0% in the second quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock worth $26,000 after buying an additional 822 shares in the last quarter. Root Financial Partners LLC bought a new stake in Alcoa in the 3rd quarter valued at $29,000. Horrell Capital Management Inc. bought a new stake in Alcoa in the 2nd quarter valued at $30,000. Orion Capital Management LLC purchased a new stake in Alcoa in the 3rd quarter worth $33,000. Finally, Westfuller Advisors LLC bought a new position in shares of Alcoa during the 3rd quarter valued at about $35,000.

Alcoa Price Performance

Shares of Alcoa stock opened at $60.47 on Friday. The stock has a market cap of $15.66 billion, a price-to-earnings ratio of 13.68 and a beta of 1.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 1.45. The stock has a 50 day moving average price of $56.56 and a 200-day moving average price of $42.19. Alcoa has a one year low of $21.53 and a one year high of $66.95.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.31. Alcoa had a return on equity of 16.18% and a net margin of 9.12%.The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period last year, the company earned $1.04 earnings per share. Alcoa’s revenue was down 1.1% on a year-over-year basis. Equities analysts expect that Alcoa will post 4.43 EPS for the current year.

Wall Street Analyst Weigh In

AA has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a report on Monday, December 29th. HSBC raised their price target on Alcoa from $33.00 to $41.00 and gave the company a “buy” rating in a report on Friday, October 17th. BMO Capital Markets upped their price objective on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Morgan Stanley reissued an “overweight” rating and issued a $52.00 target price on shares of Alcoa in a report on Monday, December 15th. Finally, UBS Group boosted their price target on shares of Alcoa from $42.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. One equities research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.