Alcoa Corp (AA) Shares Sold by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can lessened its holdings in shares of Alcoa Corp (NYSE:AA) by 41.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,565 shares of the industrial products company’s stock after selling 41,830 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Alcoa were worth $2,798,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Alcoa by 5.1% during the 2nd quarter. BlackRock Inc. now owns 9,057,264 shares of the industrial products company’s stock valued at $424,605,000 after acquiring an additional 437,832 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Alcoa by 14.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,479,257 shares of the industrial products company’s stock valued at $163,101,000 after acquiring an additional 437,117 shares in the last quarter. Schroder Investment Management Group grew its stake in Alcoa by 72.6% during the 1st quarter. Schroder Investment Management Group now owns 2,356,780 shares of the industrial products company’s stock valued at $105,960,000 after acquiring an additional 991,403 shares in the last quarter. Millennium Management LLC grew its stake in Alcoa by 8.1% during the 1st quarter. Millennium Management LLC now owns 1,768,611 shares of the industrial products company’s stock valued at $79,517,000 after acquiring an additional 133,186 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Alcoa by 14.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,300,009 shares of the industrial products company’s stock valued at $60,945,000 after acquiring an additional 165,692 shares in the last quarter.

Several equities research analysts recently commented on AA shares. Credit Suisse Group lowered their price target on Alcoa from $69.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, July 19th. Zacks Investment Research raised Alcoa from a “hold” rating to a “strong-buy” rating and set a $53.00 price target for the company in a research note on Tuesday, June 19th. Morgan Stanley lowered their price target on Alcoa from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, July 23rd. ValuEngine cut Alcoa from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Finally, BMO Capital Markets lowered their price target on Alcoa from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday, July 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $61.24.

Shares of NYSE AA opened at $42.79 on Friday. The company has a market capitalization of $7.84 billion, a P/E ratio of 10.38, a PEG ratio of 2.26 and a beta of -0.23. Alcoa Corp has a 52 week low of $40.03 and a 52 week high of $62.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.42 and a quick ratio of 0.87.

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 analysts’ consensus estimates of $1.33 by $0.19. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Alcoa had a return on equity of 10.30% and a net margin of 1.11%. The company’s revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. equities analysts forecast that Alcoa Corp will post 4.1 earnings per share for the current year.

Alcoa Company Profile

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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