Rheos Capital Works Inc. Makes New $2 Million Investment in Alcoa Co. (NYSE:AA)

Rheos Capital Works Inc. purchased a new stake in Alcoa Co. (NYSE:AA) in the 4th quarter, HoldingsChannel reports. The fund purchased 53,000 shares of the industrial products company’s stock, valued at approximately $2,002,000.

A number of other hedge funds also recently made changes to their positions in the stock. Creative Planning lifted its holdings in Alcoa by 25.4% in the second quarter. Creative Planning now owns 23,853 shares of the industrial products company’s stock valued at $949,000 after buying an additional 4,828 shares during the period. Sanctuary Advisors LLC acquired a new stake in Alcoa during the second quarter worth approximately $304,000. CWM LLC increased its holdings in Alcoa by 133.7% in the third quarter. CWM LLC now owns 8,533 shares of the industrial products company’s stock worth $329,000 after purchasing an additional 4,882 shares in the last quarter. UMB Bank n.a. lifted its stake in Alcoa by 481.7% in the third quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after buying an additional 631 shares during the period. Finally, Contravisory Investment Management Inc. bought a new position in shares of Alcoa during the 3rd quarter worth approximately $7,696,000.

Analyst Ratings Changes

A number of research analysts recently issued reports on AA shares. B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Wednesday, October 23rd. Jefferies Financial Group reduced their target price on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Bank of America raised their price objective on Alcoa to $58.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Alcoa has an average rating of “Moderate Buy” and an average price target of $46.55.

Alcoa Price Performance

NYSE AA opened at $35.36 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The business has a fifty day simple moving average of $39.29 and a 200 day simple moving average of $37.51. Alcoa Co. has a 12 month low of $24.86 and a 12 month high of $47.77.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. As a group, equities research analysts expect that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.