18 September, 2017
ING has upgraded Alcoa Corp. (NYSE:AA) by 91.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. Canada Pension Plan Investment Board now controls 106,928 shares valued at $3,491,000. The value of the investment in AA increased from $1,064,000 to $7,173,000 increasing 574.2% for the reporting period. Ardsley Advisory Partners acquired a new stake in shares of Alcoa Corp. during the third quarter valued at $101,000.
Westpac Banking Corp cut its stake in Alcoa Corp. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company's stock valued at $142,000 after buying an additional 132 shares during the period. Sg Americas Securities, LLC trimmed its holdings by selling 2,622,881 shares a decrease of 99.7% in the quarter. 1ST Source Bank now owns 16,500 shares of the company's stock valued at $167,000 after buying an additional 350 shares in the last quarter. Global X Management Co. Bank of Montreal Can increased its stake in shares of Alcoa Corp.by 18.2% in the second quarter. Pacer Advisors Inc. raised its stake in shares of Alcoa Corp.by 3.3% during the first quarter. Clearbridge Investments LLC now owns 7,780 shares of the industrial products company's stock worth $268,000 after acquiring an additional 190 shares in the last quarter.
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Several equities research analysts have issued reports on AA shares. Finally, Argus began coverage on shares of Alcoa Corp.in a report on Friday, December 9th. Zacks Investment Research upgraded Alcoa Corp. from a "hold" rating to a "buy" rating and set a $50.00 price target for the company in a research report on Thursday. BMO Capital Markets reiterated a "buy" rating and set a $45.00 price objective on shares of Alcoa Corp.in a research report on Friday, June 2nd. The stock saw a fall in short interest from July 31, 2017 to August 15, 2017 of -28.59%.
Equity analyst Clarksons Platou released its first research report on the stock with a rating of "Outperform". The stock now has an average rating of "Buy" and an average target price of $39.77. (NYSE AA) traded up 0.68% on Thursday, hitting $44.73.
The P/E ratio is now 107.31 and market capitalization is 12.23B.
The stock is trading at $42.38 a tad higher than $39.27, the stock's 50 day moving average and well above the 200 day moving average of $34.88.
Alcoa Corp. comprises about 1.0% of Westpac Banking Corp's portfolio, making the stock its 18th largest position. (NYSE:AA) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.02. The firm had revenue of $2.54 billion for the quarter, compared to analysts' expectations of $2.50 billion. Alcoa Corp.'s revenue was up 23.1% compared to the same quarter previous year. On average, analysts anticipate that Alcoa Corp. will post $2.92 EPS for the current year. The Company is also engaged in trading of alumina, primary aluminum, aluminum fabrication products, other non-ferrous metal products, coal products and raw and ancillary materials in bulk domestically and internationally.
