Adirondack Research & Management Inc. increased its stake in shares of Alcoa Corp (NYSE:AA) by 27.7% in the first quarter, Holdings Channel reports. The firm owned 121,200 shares of the industrial products company’s stock after buying an additional 26,274 shares during the quarter. Adirondack Research & Management Inc.’s holdings in Alcoa were worth $747,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Verus Capital Partners LLC bought a new stake in Alcoa during the 4th quarter worth approximately $34,000. Sunbelt Securities Inc. acquired a new stake in Alcoa during the 4th quarter worth approximately $17,020,000. Global Retirement Partners LLC raised its holdings in Alcoa by 700.5% during the 1st quarter. Global Retirement Partners LLC now owns 4,603 shares of the industrial products company’s stock worth $28,000 after buying an additional 4,028 shares during the period. Penserra Capital Management LLC acquired a new stake in Alcoa during the 4th quarter worth approximately $175,000. Finally, Sowell Financial Services LLC raised its holdings in Alcoa by 2,859.8% during the 4th quarter. Sowell Financial Services LLC now owns 8,317 shares of the industrial products company’s stock worth $179,000 after buying an additional 8,036 shares during the period.

Shares of NYSE:AA traded up $0.84 during midday trading on Wednesday, hitting $10.76. The stock had a trading volume of 270,662 shares, compared to its average volume of 8,731,303. Alcoa Corp has a 12 month low of $5.16 and a 12 month high of $24.63. The company has a quick ratio of 0.82, a current ratio of 1.50 and a debt-to-equity ratio of 0.31. The business’s 50-day simple moving average is $7.83 and its 200-day simple moving average is $13.72. The company has a market cap of $1.90 billion, a P/E ratio of -2.36 and a beta of 2.17.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, April 22nd. The industrial products company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.06. Alcoa had a negative net margin of 8.38% and a negative return on equity of 2.93%. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period last year, the business earned ($0.23) earnings per share. The firm’s revenue was down 12.4% on a year-over-year basis. As a group, equities analysts predict that Alcoa Corp will post -1.13 earnings per share for the current year.

AA has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a report on Wednesday, May 20th. Citigroup dropped their target price on shares of Alcoa from $14.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Credit Suisse Group raised their target price on shares of Alcoa from $13.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. decreased their price target on shares of Alcoa from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Finally, ValuEngine cut shares of Alcoa from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 1st. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $15.02.

About Alcoa

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; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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