Alcoa Co. (NYSE:AA) Shares Acquired by ARGA Investment Management LP

ARGA Investment Management LP boosted its position in Alcoa Co. (NYSE:AA) by 29.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,998,311 shares of the industrial products company’s stock after buying an additional 684,505 shares during the quarter. Alcoa makes up about 3.7% of ARGA Investment Management LP’s holdings, making the stock its 10th biggest position. ARGA Investment Management LP’s holdings in Alcoa were worth $113,276,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in AA. UMB Bank n.a. grew its position in Alcoa by 481.7% in the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 631 shares during the last quarter. Quarry LP acquired a new stake in Alcoa during the third quarter worth about $43,000. Continuum Advisory LLC increased its stake in Alcoa by 1,945.5% during the third quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 1,070 shares during the period. GAMMA Investing LLC raised its holdings in Alcoa by 399.0% in the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 1,157 shares in the last quarter. Finally, Millburn Ridgefield Corp bought a new stake in shares of Alcoa in the 3rd quarter worth approximately $89,000.

Alcoa Stock Performance

NYSE:AA opened at $36.27 on Wednesday. The stock has a market capitalization of $9.37 billion, a P/E ratio of -226.66, a price-to-earnings-growth ratio of 0.20 and a beta of 2.43. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. Alcoa Co. has a 1 year low of $24.86 and a 1 year high of $47.77. The firm has a 50 day moving average of $38.80 and a 200-day moving average of $37.51.

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, beating the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. As a group, sell-side analysts anticipate that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AA shares. Jefferies Financial Group cut 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 upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Wednesday, October 23rd. UBS Group increased their price target on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. lifted their price objective on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.55.

About Alcoa

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.