Journey Strategic Wealth LLC Makes New Investment in Alcoa Co. (NYSE:AA)

Journey Strategic Wealth LLC purchased a new position in Alcoa Co. (NYSE:AAFree Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,532 shares of the industrial products company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Comerica Bank bought a new position in shares of Alcoa in the second quarter worth $7,430,000. PointState Capital LP grew its stake in shares of Alcoa by 18.2% in the second quarter. PointState Capital LP now owns 2,229,159 shares of the industrial products company’s stock worth $75,635,000 after purchasing an additional 343,263 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Alcoa during the third quarter valued at about $39,557,000. Barclays PLC boosted its stake in Alcoa by 482.4% during the second quarter. Barclays PLC now owns 1,116,654 shares of the industrial products company’s stock valued at $37,892,000 after buying an additional 924,934 shares in the last quarter. Finally, Itau Unibanco Holding S.A. boosted its stake in Alcoa by 135.6% during the second quarter. Itau Unibanco Holding S.A. now owns 398,000 shares of the industrial products company’s stock valued at $13,504,000 after buying an additional 229,080 shares in the last quarter.

Alcoa Trading Down 9.0 %

Shares of NYSE AA opened at $26.84 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.45 and a quick ratio of 0.74. The business’s 50-day simple moving average is $29.66 and its 200-day simple moving average is $28.91. Alcoa Co. has a 52 week low of $23.07 and a 52 week high of $55.74.

Alcoa (NYSE:AAGet Free Report) last issued its quarterly earnings results on Wednesday, January 17th. The industrial products company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.29. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. Alcoa had a negative return on equity of 6.56% and a negative net margin of 6.17%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.70) EPS. On average, analysts forecast that Alcoa Co. will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AA shares. JPMorgan Chase & Co. increased their price objective on Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. UBS Group started coverage on Alcoa in a research note on Tuesday, January 16th. They set a “sell” rating and a $29.00 price target for the company. HSBC started coverage on Alcoa in a research note on Thursday, December 7th. They set a “hold” rating and a $29.00 price target for the company. Morgan Stanley raised their price target on Alcoa from $27.00 to $29.50 and gave the stock an “underweight” rating in a research note on Thursday, January 18th. Finally, B. Riley Financial cut their price target on Alcoa from $34.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 20th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.21.

Get Our Latest Stock Analysis on AA

About Alcoa

(Free Report)

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, 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 and casting businesses.

See Also

Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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