Alcoa Corp (NYSE:AA) Stake Boosted by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC boosted its position in shares of Alcoa Corp (NYSE:AA) by 88.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,459 shares of the industrial products company’s stock after buying an additional 10,978 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Alcoa were worth $1,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Alcoa by 14.5% during the second quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock valued at $484,895,000 after purchasing an additional 1,885,745 shares during the period. Elliott Management Corp boosted its stake in shares of Alcoa by 14.7% during the second quarter. Elliott Management Corp now owns 11,737,457 shares of the industrial products company’s stock valued at $383,228,000 after purchasing an additional 1,500,000 shares during the period. Balyasny Asset Management LLC boosted its stake in shares of Alcoa by 22.8% during the second quarter. Balyasny Asset Management LLC now owns 7,848,750 shares of the industrial products company’s stock valued at $256,262,000 after purchasing an additional 1,458,488 shares during the period. BlackRock Inc. boosted its stake in shares of Alcoa by 14.1% during the second quarter. BlackRock Inc. now owns 7,779,093 shares of the industrial products company’s stock valued at $253,986,000 after purchasing an additional 958,494 shares during the period. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in shares of Alcoa by 163.5% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 4,539,019 shares of the industrial products company’s stock valued at $148,198,000 after purchasing an additional 2,816,320 shares during the period.

AA has been the subject of a number of recent analyst reports. Credit Suisse Group raised shares of Alcoa from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $42.00 to $61.00 in a research note on Wednesday, December 20th. Citigroup set a $55.00 target price on shares of Alcoa and gave the company a “buy” rating in a research note on Wednesday, November 29th. BMO Capital Markets reissued a “buy” rating and set a $60.00 target price on shares of Alcoa in a research note on Wednesday, November 15th. Morgan Stanley set a $55.00 target price on shares of Alcoa and gave the company a “buy” rating in a research note on Tuesday, December 19th. Finally, Zacks Investment Research raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Thursday, September 14th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Alcoa currently has a consensus rating of “Buy” and a consensus price target of $53.74.

Alcoa Corp (NYSE AA) traded up $0.74 during trading hours on Thursday, reaching $56.91. 2,725,500 shares of the company were exchanged, compared to its average volume of 4,190,000. The stock has a market capitalization of $10,530.00 and a price-to-earnings ratio of 38.98. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. Alcoa Corp has a 52 week low of $29.55 and a 52 week high of $57.13.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, October 18th. The industrial products company reported $0.72 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.05). The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.95 billion. Alcoa had a return on equity of 4.90% and a net margin of 2.61%. The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 earnings per share. sell-side analysts predict that Alcoa Corp will post 3.19 EPS for the current fiscal year.

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Alcoa 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.

Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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