Nordea Investment Management AB trimmed its position in shares of Alcoa Corp (NYSE:AA) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 137,382 shares of the industrial products company’s stock after selling 2,242 shares during the period. Nordea Investment Management AB owned approximately 0.07% of Alcoa worth $3,868,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its position in Alcoa by 7.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,217 shares of the industrial products company’s stock worth $457,000 after purchasing an additional 1,111 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Alcoa in the 1st quarter valued at about $235,000. AGF Investments Inc. purchased a new position in Alcoa in the 4th quarter valued at about $433,000. Masters Capital Management LLC purchased a new position in Alcoa in the 4th quarter valued at about $7,974,000. Finally, NumerixS Investment Technologies Inc boosted its position in Alcoa by 240.3% in the 4th quarter. NumerixS Investment Technologies Inc now owns 9,869 shares of the industrial products company’s stock valued at $263,000 after buying an additional 6,969 shares during the last quarter.
A number of equities analysts have weighed in on AA shares. Jefferies Financial Group reissued a “sell” rating on shares of Hi-Crush Partners in a research report on Tuesday, April 2nd. Zacks Investment Research cut shares of General Finance from a “buy” rating to a “hold” rating in a research report on Monday. TheStreet cut shares of Titan Machinery from a “b” rating to a “c+” rating in a research report on Thursday, March 28th. BMO Capital Markets set a $208.00 price target on shares of Jazz Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, ValuEngine raised shares of Vale from a “sell” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. Alcoa currently has a consensus rating of “Hold” and an average price target of $36.69.
Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, July 17th. The industrial products company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.33. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.77 billion. Alcoa had a negative net margin of 0.94% and a positive return on equity of 6.75%. Alcoa’s quarterly revenue was down 24.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 earnings per share. On average, equities analysts expect that Alcoa Corp will post -0.05 EPS for the current fiscal year.
Alcoa Company Profile
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.
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