CIBC World Markets Inc. Buys 32,864 Shares of Alcoa Co. (NYSE:AA)

CIBC World Markets Inc. grew its stake in shares of Alcoa Co. (NYSE:AA) by 72.7% in the first quarter, Holdings Channel reports. The fund owned 78,059 shares of the industrial products company’s stock after acquiring an additional 32,864 shares during the quarter. CIBC World Markets Inc.’s holdings in Alcoa were worth $2,536,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Royce & Associates LP bought a new position in Alcoa in the 4th quarter worth approximately $13,029,000. California Public Employees Retirement System boosted its holdings in Alcoa by 10.6% in the 4th quarter. California Public Employees Retirement System now owns 490,307 shares of the industrial products company’s stock worth $11,302,000 after buying an additional 46,960 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Alcoa by 3.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 40,541 shares of the industrial products company’s stock worth $934,000 after buying an additional 1,411 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Alcoa by 83.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 57,181 shares of the industrial products company’s stock valued at $1,858,000 after buying an additional 26,075 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of Alcoa by 14.1% during the 4th quarter. Guggenheim Capital LLC now owns 23,743 shares of the industrial products company’s stock valued at $547,000 after buying an additional 2,930 shares in the last quarter.

NYSE:AA opened at $37.42 on Friday. Alcoa Co. has a one year low of $10.27 and a one year high of $44.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.52 and a quick ratio of 1.08. The business’s 50-day simple moving average is $36.68. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of -91.27 and a beta of 2.65.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, April 14th. The industrial products company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.46 by $0.33. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.65 billion. Alcoa had a negative net margin of 0.77% and a negative return on equity of 0.45%. Alcoa’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. As a group, analysts anticipate that Alcoa Co. will post 4.65 earnings per share for the current year.

AA has been the topic of a number of analyst reports. B. Riley lifted their target price on shares of Alcoa from $36.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, April 30th. Zacks Investment Research upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Friday, March 26th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Alcoa from $41.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, May 26th. Morgan Stanley upgraded shares of Alcoa from an “equal weight” rating to an “overweight” rating and set a $43.00 target price on the stock in a research report on Monday, March 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alcoa from $39.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, May 10th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $33.50.

In related news, EVP Timothy D. Reyes sold 20,260 shares of the business’s stock in a transaction that occurred on Monday, April 26th. The shares were sold at an average price of $36.82, for a total transaction of $745,973.20. Following the completion of the sale, the executive vice president now directly owns 91,091 shares in the company, valued at $3,353,970.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey D. Heeter sold 12,260 shares of the business’s stock in a transaction that occurred on Tuesday, April 20th. The shares were sold at an average price of $35.35, for a total transaction of $433,391.00. Following the sale, the executive vice president now owns 93,948 shares of the company’s stock, valued at $3,321,061.80. The disclosure for this sale can be found here. Insiders have sold 298,639 shares of company stock valued at $10,127,456 over the last three months.

Alcoa Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting, casting, and rolling businesses.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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