Alcoa Corp. (AA) Stake Maintained by Pax World Management LLC

Pax World Management LLC continued to hold its position in Alcoa Corp. (NYSE:AA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,999 shares of the industrial products company’s stock at the end of the second quarter. Pax World Management LLC’s holdings in Alcoa Corp. were worth $1,632,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AA. BlackRock Inc. raised its stake in shares of Alcoa Corp. by 4,113.0% in the first quarter. BlackRock Inc. now owns 6,820,599 shares of the industrial products company’s stock worth $234,632,000 after buying an additional 6,658,703 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alcoa Corp. by 192.6% in the first quarter. JPMorgan Chase & Co. now owns 3,869,510 shares of the industrial products company’s stock worth $133,111,000 after buying an additional 2,547,180 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Alcoa Corp. by 83.3% in the first quarter. Renaissance Technologies LLC now owns 3,503,996 shares of the industrial products company’s stock worth $120,537,000 after buying an additional 1,592,700 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Alcoa Corp. during the second quarter worth $63,686,000. Finally, Systematic Financial Management LP acquired a new stake in shares of Alcoa Corp. during the first quarter worth $61,674,000.

Alcoa Corp. (NYSE AA) opened at 39.77 on Wednesday. The firm has a market capitalization of $7.33 billion and a P/E ratio of 45.24. The company’s 50 day moving average price is $36.61 and its 200 day moving average price is $34.40. Alcoa Corp. has a 12 month low of $20.00 and a 12 month high of $40.36. Alcoa Corp. also was the recipient of unusually large options trading activity on Tuesday. Traders purchased 22,448 call options on the stock. This is an increase of 450% compared to the typical daily volume of 4,083 call options.

Alcoa Corp. (NYSE:AA) last posted its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Alcoa Corp. had a net margin of 1.63% and a return on equity of 3.29%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the firm posted $0.15 earnings per share. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. Analysts anticipate that Alcoa Corp. will post $2.86 EPS for the current year.

A number of brokerages have weighed in on AA. Deutsche Bank AG reaffirmed a “hold” rating and issued a $44.00 price objective on shares of Alcoa Corp. in a report on Wednesday, August 9th. Credit Suisse Group began coverage on Alcoa Corp. in a report on Wednesday, August 9th. They issued a “neutral” rating and a $42.00 price objective on the stock. BMO Capital Markets set a $45.00 price objective on Alcoa Corp. and gave the company a “buy” rating in a report on Saturday, August 5th. Clarkson Capital reaffirmed a “buy” rating on shares of Alcoa Corp. in a report on Thursday, July 20th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Alcoa Corp. in a report on Saturday, July 22nd. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $39.00.

Alcoa Corp. Company Profile

Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.

Want to see what other hedge funds are holding AA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alcoa Corp. (NYSE:AA).