Aviva PLC Has $1.84 Million Stake in Alcoa Corp (AA)
Aviva PLC lessened its stake in shares of Alcoa Corp (NYSE:AA) by 22.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 69,369 shares of the industrial products company’s stock after selling 20,314 shares during the period. Aviva PLC’s holdings in Alcoa were worth $1,844,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. We Are One Seven LLC purchased a new stake in Alcoa during the 4th quarter worth approximately $35,000. IMS Capital Management purchased a new stake in shares of Alcoa in the 3rd quarter valued at $87,000. Financial Architects Inc boosted its holdings in shares of Alcoa by 2,970.3% in the 4th quarter. Financial Architects Inc now owns 3,101 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 3,000 shares during the last quarter. Cerebellum GP LLC boosted its holdings in shares of Alcoa by 8.1% in the 4th quarter. Cerebellum GP LLC now owns 4,798 shares of the industrial products company’s stock valued at $128,000 after acquiring an additional 361 shares during the last quarter. Finally, Point72 Hong Kong Ltd boosted its holdings in shares of Alcoa by 414.8% in the 3rd quarter. Point72 Hong Kong Ltd now owns 5,112 shares of the industrial products company’s stock valued at $207,000 after acquiring an additional 4,119 shares during the last quarter.
Several research firms recently issued reports on AA. Berenberg Bank set a $42.00 target price on shares of Alcoa and gave the company a “buy” rating in a research note on Monday, January 14th. Goldman Sachs Group upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Monday, January 14th. BMO Capital Markets set a $45.00 target price on shares of Alcoa and gave the company a “buy” rating in a research note on Thursday, December 20th. B. Riley restated a “buy” rating and set a $49.00 price objective (down from $50.00) on shares of Alcoa in a research report on Thursday, December 20th. Finally, ValuEngine upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $53.27.
Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, January 16th. The industrial products company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.16. The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Alcoa had a net margin of 1.69% and a return on equity of 9.21%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.04 earnings per share. As a group, equities research analysts predict that Alcoa Corp will post 1.89 EPS for the current year.
Alcoa Company Profile
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; processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.
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