Prime Capital Investment Advisors LLC grew its position in shares of Alcoa Corp (NYSE:AA) by 80.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 148,283 shares of the industrial products company’s stock after purchasing an additional 65,988 shares during the quarter. Prime Capital Investment Advisors LLC owned approximately 0.08% of Alcoa worth $2,976,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of AA. Steward Partners Investment Advisory LLC acquired a new stake in shares of Alcoa during the second quarter worth about $25,000. TRUE Private Wealth Advisors acquired a new stake in Alcoa in the second quarter valued at about $30,000. Lindbrook Capital LLC lifted its position in Alcoa by 323.7% in the third quarter. Lindbrook Capital LLC now owns 1,339 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 1,023 shares during the period. Regal Wealth Group Inc. acquired a new stake in Alcoa in the third quarter valued at about $30,000. Finally, Cerebellum GP LLC acquired a new stake in Alcoa in the third quarter valued at about $127,000.
A number of research firms have recently issued reports on AA. Jefferies Financial Group downgraded shares of Alcoa from a “buy” rating to a “hold” rating and reduced their price target for the company from $29.00 to $23.00 in a research report on Thursday, July 18th. B. Riley reduced their price target on shares of Alcoa from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. reduced their price target on shares of Alcoa from $44.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Gabelli downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, ValuEngine upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.50.
Shares of AA traded down $0.37 during mid-day trading on Monday, reaching $22.16. 85,062 shares of the company’s stock were exchanged, compared to its average volume of 3,747,501. The company has a quick ratio of 0.81, a current ratio of 1.48 and a debt-to-equity ratio of 0.28. The company has a 50-day simple moving average of $20.68 and a two-hundred day simple moving average of $21.78. Alcoa Corp has a 52-week low of $16.46 and a 52-week high of $36.72. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 6.20 and a beta of 1.47.
Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, October 16th. The industrial products company reported ($0.44) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.09). Alcoa had a negative return on equity of 0.03% and a negative net margin of 6.87%. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was down 24.3% on a year-over-year basis. As a group, equities research analysts predict that Alcoa Corp will post -0.78 EPS for the current fiscal year.
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.
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