Alcoa $AA Shares Bought by Aberdeen Group plc

Aberdeen Group plc raised its stake in shares of Alcoa (NYSE:AA) by 116.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,145 shares of the industrial products company’s stock after acquiring an additional 12,470 shares during the quarter. Aberdeen Group plc’s holdings in Alcoa were worth $783,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Root Financial Partners LLC acquired a new stake in Alcoa in the third quarter worth $29,000. Horrell Capital Management Inc. acquired a new position in shares of Alcoa in the 2nd quarter worth approximately $30,000. Orion Capital Management LLC bought a new stake in shares of Alcoa during the 3rd quarter worth $33,000. Westfuller Advisors LLC acquired a new stake in Alcoa during the 3rd quarter worth about $35,000. Finally, Heartwood Wealth Advisors LLC purchased a new position in Alcoa during the 3rd quarter worth approximately $53,000.

Alcoa Stock Up 1.1%

Shares of NYSE:AA opened at $60.38 on Monday. The company has a 50 day moving average of $58.32 and a 200-day moving average of $43.63. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.45 and a quick ratio of 0.87. The stock has a market cap of $15.63 billion, a price-to-earnings ratio of 13.66 and a beta of 1.91. Alcoa has a one year low of $21.53 and a one year high of $66.95.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping 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 business had revenue of ($1,130.00) million for the quarter, compared to analyst estimates of $3.28 billion. During the same period last year, the company earned $1.04 EPS. The firm’s revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts forecast that Alcoa will post 4.43 earnings per share for the current year.

Analyst Ratings Changes

AA has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 13th. Morgan Stanley restated an “overweight” rating and set a $52.00 price target on shares of Alcoa in a report on Monday, December 15th. Wells Fargo & Company cut their target price on shares of Alcoa from $71.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Argus set a $45.00 price target on shares of Alcoa in a research note on Thursday, October 30th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.