Alcoa Corp (NYSE:AA) Stock Position Decreased by NN Investment Partners Holdings N.V.

NN Investment Partners Holdings N.V. decreased its position in Alcoa Corp (NYSE:AA) by 74.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,700 shares of the industrial products company’s stock after selling 10,900 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Alcoa were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. grew its position in Alcoa by 0.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 187,756 shares of the industrial products company’s stock worth $5,287,000 after purchasing an additional 1,251 shares during the last quarter. Parallel Advisors LLC grew its position in Alcoa by 138.0% in the 2nd quarter. Parallel Advisors LLC now owns 2,230 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 1,293 shares during the last quarter. Verus Capital Partners LLC bought a new position in Alcoa in the 4th quarter worth about $34,000. World Asset Management Inc grew its position in Alcoa by 14.2% in the 1st quarter. World Asset Management Inc now owns 13,569 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 1,692 shares during the last quarter. Finally, Raymond James & Associates grew its position in Alcoa by 10.5% in the 4th quarter. Raymond James & Associates now owns 19,073 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 1,815 shares during the last quarter.

AA stock opened at $13.00 on Friday. Alcoa Corp has a 12 month low of $5.16 and a 12 month high of $23.47. The firm has a 50 day simple moving average of $11.86 and a 200 day simple moving average of $11.07. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.42 and a quick ratio of 0.82.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 15th. The industrial products company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.36. Alcoa had a negative net margin of 6.72% and a negative return on equity of 3.16%. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same period in the prior year, the business earned ($0.01) earnings per share. The business’s quarterly revenue was down 20.8% on a year-over-year basis. As a group, research analysts expect that Alcoa Corp will post -1.15 EPS for the current fiscal year.

AA has been the subject of several recent analyst reports. ValuEngine cut shares of Alcoa from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 1st. Zacks Investment Research raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Wednesday, June 17th. Deutsche Bank lowered shares of Alcoa from a “buy” rating to a “hold” rating and set a $10.00 price target for the company. in a research note on Monday, June 15th. Morgan Stanley upped their price target on shares of Alcoa from $11.70 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, July 20th. Finally, Citigroup upped their price target on shares of Alcoa from $8.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 16th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.50.

About Alcoa

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.

Further Reading: Limitations of the P/E Growth ratio

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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