Commerzbank Aktiengesellschaft FI Sells 3,730 Shares of Alcoa Corp (AA)
Commerzbank Aktiengesellschaft FI cut its position in shares of Alcoa Corp (NYSE:AA) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 121,650 shares of the industrial products company’s stock after selling 3,730 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Alcoa were worth $6,553,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. purchased a new position in shares of Alcoa during the 4th quarter worth about $103,000. Huntington National Bank purchased a new position in shares of Alcoa during the 3rd quarter worth about $112,000. Cerebellum GP LLC purchased a new position in shares of Alcoa during the 4th quarter worth about $127,000. Van ECK Associates Corp boosted its stake in shares of Alcoa by 3.8% during the 2nd quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock worth $189,000 after purchasing an additional 213 shares during the period. Finally, Fruth Investment Management purchased a new position in shares of Alcoa during the 4th quarter worth about $200,000.
In related news, VP William F. Oplinger sold 229,475 shares of Alcoa stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $52.86, for a total transaction of $12,130,048.50. Following the completion of the sale, the vice president now owns 108,915 shares in the company, valued at approximately $5,757,246.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 280,975 shares of company stock valued at $12,149,279 in the last quarter.
Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, January 17th. The industrial products company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.19). Alcoa had a net margin of 1.86% and a return on equity of 6.90%. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the previous year, the business earned $0.14 EPS. The company’s quarterly revenue was up 25.1% compared to the same quarter last year. equities analysts forecast that Alcoa Corp will post 4.12 earnings per share for the current fiscal year.
A number of research firms recently commented on AA. Zacks Investment Research raised shares of Alcoa from a “hold” rating to a “strong-buy” rating and set a $61.00 price target for the company in a research note on Monday, January 22nd. JPMorgan Chase & Co. lifted their price target on shares of Alcoa to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. Bank of America reaffirmed a “buy” rating and set a $63.00 price target (down from $67.00) on shares of Alcoa in a research note on Thursday, January 18th. Cowen reaffirmed a “market perform” rating and set a $59.00 price target (up from $51.00) on shares of Alcoa in a research note on Thursday, January 18th. Finally, Citigroup lifted their price target on shares of Alcoa to $65.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $57.50.
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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.
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