Parametric Portfolio Associates LLC grew its holdings in Alcoa Corp (NYSE:AA) by 48.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 613,306 shares of the industrial products company’s stock after acquiring an additional 198,895 shares during the period. Parametric Portfolio Associates LLC owned about 0.33% of Alcoa worth $28,592,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AA. Public Employees Retirement System of Ohio boosted its holdings in Alcoa by 6.9% during the third quarter. Public Employees Retirement System of Ohio now owns 80,047 shares of the industrial products company’s stock worth $3,732,000 after buying an additional 5,137 shares in the last quarter. Neuberger Berman Group LLC purchased a new stake in Alcoa during the third quarter worth $10,295,000. California Public Employees Retirement System boosted its holdings in Alcoa by 30.8% during the third quarter. California Public Employees Retirement System now owns 581,940 shares of the industrial products company’s stock worth $27,130,000 after buying an additional 137,164 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Alcoa by 16.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 26,407 shares of the industrial products company’s stock worth $1,231,000 after acquiring an additional 3,759 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in Alcoa by 88.0% during the third quarter. Cubist Systematic Strategies LLC now owns 23,459 shares of the industrial products company’s stock worth $1,094,000 after acquiring an additional 10,978 shares during the period.

Shares of Alcoa Corp (NYSE AA) opened at $49.99 on Friday. The company has a market cap of $9,064.27 and a PE ratio of 32.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 0.90. Alcoa Corp has a 12-month low of $28.01 and a 12-month high of $50.31.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, October 18th. The industrial products company reported $0.72 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.05). Alcoa had a net margin of 2.61% and a return on equity of 4.90%. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the company earned $0.32 earnings per share. Alcoa’s quarterly revenue was up 27.3% on a year-over-year basis. sell-side analysts anticipate that Alcoa Corp will post 3.19 EPS for the current fiscal year.

A number of equities analysts have weighed in on AA shares. Deutsche Bank upgraded shares of Alcoa from a “hold” rating to a “buy” rating and upped their price objective for the stock from $44.00 to $60.00 in a research report on Tuesday, September 12th. Zacks Investment Research upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Thursday, September 14th. Citigroup restated a “buy” rating and set a $53.00 price objective on shares of Alcoa in a research report on Friday, September 29th. Macquarie restated a “buy” rating and set a $62.00 price objective (up from $55.00) on shares of Alcoa in a research report on Tuesday, October 10th. Finally, J P Morgan Chase & Co restated a “buy” rating and set a $60.00 price objective on shares of Alcoa in a research report on Thursday, October 19th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Alcoa has an average rating of “Buy” and a consensus price target of $53.07.

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About Alcoa

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.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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