Clinton Group Inc. decreased its position in Alcoa Corp (NYSE:AA) by 94.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,997 shares of the industrial products company’s stock after selling 112,485 shares during the quarter. Clinton Group Inc.’s holdings in Alcoa were worth $283,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AA. Natixis raised its position in shares of Alcoa by 1,432.6% in the second quarter. Natixis now owns 625,878 shares of the industrial products company’s stock valued at $29,341,000 after purchasing an additional 585,040 shares during the period. OppenheimerFunds Inc. raised its position in shares of Alcoa by 197.8% in the second quarter. OppenheimerFunds Inc. now owns 725,689 shares of the industrial products company’s stock valued at $34,020,000 after purchasing an additional 481,971 shares during the period. BlackRock Inc. raised its position in shares of Alcoa by 5.1% in the second quarter. BlackRock Inc. now owns 9,057,264 shares of the industrial products company’s stock valued at $424,605,000 after purchasing an additional 437,832 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Alcoa by 14.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,479,257 shares of the industrial products company’s stock valued at $163,101,000 after purchasing an additional 437,117 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Alcoa by 14.7% in the second quarter. Renaissance Technologies LLC now owns 2,086,096 shares of the industrial products company’s stock valued at $97,796,000 after purchasing an additional 267,900 shares during the period.

A number of research firms have recently commented on AA. BMO Capital Markets dropped their price target on shares of Alcoa from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, July 19th. Jefferies Financial Group set a $65.00 price target on shares of Alcoa and gave the company a “buy” rating in a research report on Thursday, July 19th. ValuEngine lowered shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, July 14th. B. Riley started coverage on shares of Alcoa in a research report on Thursday, June 21st. They set a “neutral” rating and a $47.00 target price on the stock. Finally, Credit Suisse Group dropped their target price on shares of Alcoa from $69.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, July 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $61.13.

Shares of AA stock opened at $35.67 on Friday. Alcoa Corp has a 1 year low of $35.13 and a 1 year high of $62.35. The firm has a market cap of $7.53 billion, a P/E ratio of 12.03, a P/E/G ratio of 2.11 and a beta of -0.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.42.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, July 18th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.19. Alcoa had a net margin of 1.11% and a return on equity of 10.30%. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Alcoa’s revenue was up 25.2% compared to the same quarter last year. Analysts predict that Alcoa Corp will post 4.22 EPS for the current year.

About Alcoa

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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