14,772 Shares in Alcoa $AA Acquired by Beirne Wealth Consulting Services LLC

Beirne Wealth Consulting Services LLC bought a new stake in shares of Alcoa (NYSE:AA) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,772 shares of the industrial products company’s stock, valued at approximately $486,000.

Several other institutional investors have also added to or reduced their stakes in the business. Pacer Advisors Inc. grew its position in shares of Alcoa by 455.9% during the third quarter. Pacer Advisors Inc. now owns 62,982 shares of the industrial products company’s stock worth $2,071,000 after purchasing an additional 51,652 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Alcoa by 121.7% in the 2nd quarter. Mackenzie Financial Corp now owns 1,569,358 shares of the industrial products company’s stock worth $46,312,000 after purchasing an additional 861,383 shares in the last quarter. Drummond Knight Asset Management Pty Ltd bought a new position in Alcoa in the 2nd quarter worth approximately $44,893,000. Nordea Investment Management AB grew its holdings in Alcoa by 190.8% during the 3rd quarter. Nordea Investment Management AB now owns 142,050 shares of the industrial products company’s stock valued at $4,592,000 after buying an additional 93,204 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Alcoa during the third quarter valued at approximately $1,144,000.

Alcoa Price Performance

AA stock opened at $59.92 on Tuesday. Alcoa has a 12 month low of $21.53 and a 12 month high of $66.95. The company has a current ratio of 1.45, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $57.19 and a 200 day moving average price of $42.77. The stock has a market cap of $15.52 billion, a PE ratio of 13.56 and a beta of 1.91.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.31. Alcoa had a net margin of 9.12% and a return on equity of 16.18%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the prior year, the company posted $1.04 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities research analysts anticipate that Alcoa will post 4.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AA. B. Riley Financial restated a “buy” rating on shares of Alcoa in a research report on Friday, January 23rd. Morgan Stanley reissued an “overweight” rating and set a $52.00 price objective on shares of Alcoa in a report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a report on Monday, December 29th. Wells Fargo & Company cut their price target on Alcoa from $71.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, January 23rd. Finally, BMO Capital Markets upped their price objective on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Alcoa has an average rating of “Hold” and a consensus price target of $48.25.

About Alcoa

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.