Anchor Bolt Capital LP lifted its stake in shares of Alcoa Corp (NYSE:AA) by 59.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,279,223 shares of the industrial products company’s stock after purchasing an additional 475,818 shares during the period. Alcoa accounts for 2.4% of Anchor Bolt Capital LP’s investment portfolio, making the stock its 12th biggest holding. Anchor Bolt Capital LP owned approximately 0.69% of Alcoa worth $59,637,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Huntington National Bank purchased a new position in shares of Alcoa in the third quarter valued at about $112,000. Pacer Advisors Inc. increased its position in shares of Alcoa by 8.4% during the second quarter. Pacer Advisors Inc. now owns 4,488 shares of the industrial products company’s stock valued at $147,000 after buying an additional 348 shares during the period. Van ECK Associates Corp increased its position in shares of Alcoa by 3.8% during the second quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock valued at $189,000 after buying an additional 213 shares during the period. Global X Management Co. LLC increased its position in shares of Alcoa by 220.6% during the second quarter. Global X Management Co. LLC now owns 5,803 shares of the industrial products company’s stock valued at $189,000 after buying an additional 3,993 shares during the period. Finally, Lincoln National Corp increased its position in shares of Alcoa by 3.9% during the second quarter. Lincoln National Corp now owns 6,154 shares of the industrial products company’s stock valued at $201,000 after buying an additional 233 shares during the period.

Several equities analysts recently issued reports on the stock. Gabelli cut shares of Alcoa from a “buy” rating to a “hold” rating and boosted their price target for the company from $57.00 to $60.00 in a research report on Wednesday, October 4th. Berenberg Bank set a $44.00 price objective on shares of Alcoa and gave the stock a “hold” rating in a research note on Wednesday, October 18th. J P Morgan Chase & Co reissued a “buy” rating and set a $60.00 price objective on shares of Alcoa in a research note on Thursday, October 19th. Macquarie reissued a “buy” rating and set a $62.00 price objective (up previously from $55.00) on shares of Alcoa in a research note on Tuesday, October 10th. Finally, Cowen set a $51.00 price objective on shares of Alcoa and gave the stock a “hold” rating in a research note on Wednesday, October 11th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $49.88.

Alcoa Corp (AA) opened at $41.31 on Thursday. The stock has a market cap of $7,619.24 and a P/E ratio of 19.52. Alcoa Corp has a 52 week low of $28.01 and a 52 week high of $50.31. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.17.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, October 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.05). The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.95 billion. Alcoa had a return on equity of 4.90% and a net margin of 2.61%. The company’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 EPS. research analysts forecast that Alcoa Corp will post 3.2 EPS for the current year.

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Alcoa Company Profile

Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.

Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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