Aegis Wealth Management LLC Takes $329,000 Position in Alcoa $AA

Aegis Wealth Management LLC bought a new position in shares of Alcoa (NYSE:AA) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,008 shares of the industrial products company’s stock, valued at approximately $329,000.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in Alcoa by 9.8% during the 2nd quarter. State Street Corp now owns 10,737,466 shares of the industrial products company’s stock worth $316,863,000 after buying an additional 959,240 shares during the period. L1 Capital Pty Ltd grew its stake in shares of Alcoa by 178.8% in the second quarter. L1 Capital Pty Ltd now owns 4,814,342 shares of the industrial products company’s stock valued at $142,071,000 after acquiring an additional 3,087,298 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Alcoa by 4.8% in the second quarter. Geode Capital Management LLC now owns 4,637,897 shares of the industrial products company’s stock valued at $136,898,000 after acquiring an additional 211,141 shares in the last quarter. Norges Bank bought a new position in Alcoa during the second quarter worth about $97,933,000. Finally, ARGA Investment Management LP raised its stake in Alcoa by 2.8% in the 2nd quarter. ARGA Investment Management LP now owns 3,018,772 shares of the industrial products company’s stock worth $89,084,000 after purchasing an additional 83,410 shares in the last quarter.

Alcoa Stock Up 5.0%

NYSE AA opened at $59.21 on Monday. The business has a fifty day moving average price of $55.03 and a two-hundred day moving average price of $41.48. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.45 and a quick ratio of 0.87. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $66.95. The stock has a market capitalization of $15.33 billion, a PE ratio of 13.40 and a beta of 1.91.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.31. Alcoa had a return on equity of 16.18% and a net margin of 9.12%.The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the company posted $1.04 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts expect that Alcoa will post 4.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Zacks Research upgraded shares of Alcoa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 25th. Citigroup boosted their price target on Alcoa from $42.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, December 19th. JPMorgan Chase & Co. restated an “underweight” rating and set a $50.00 price objective (up previously from $45.00) on shares of Alcoa in a research note on Thursday, January 8th. UBS Group lifted their price objective on Alcoa from $42.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Alcoa in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $48.25.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.