D.A. Davidson & CO. Boosts Stake in Alcoa Corp (NYSE:AA)

D.A. Davidson & CO. boosted its stake in shares of Alcoa Corp (NYSE:AA) by 24.7% in the third quarter, Holdings Channel reports. The institutional investor owned 23,427 shares of the industrial products company’s stock after acquiring an additional 4,647 shares during the period. D.A. Davidson & CO.’s holdings in Alcoa were worth $470,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. FMR LLC lifted its holdings in shares of Alcoa by 136.4% during the 1st quarter. FMR LLC now owns 1,048,586 shares of the industrial products company’s stock valued at $29,528,000 after purchasing an additional 605,094 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Alcoa by 0.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 187,756 shares of the industrial products company’s stock valued at $5,287,000 after purchasing an additional 1,251 shares during the last quarter. Exane Derivatives purchased a new stake in shares of Alcoa during the 2nd quarter valued at $328,000. Fox Run Management L.L.C. purchased a new stake in shares of Alcoa during the 2nd quarter valued at $301,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Alcoa during the 2nd quarter valued at $25,000.

NYSE AA opened at $20.76 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.48 and a quick ratio of 0.81. The stock’s fifty day moving average price is $20.73 and its 200 day moving average price is $21.51. Alcoa Corp has a 1 year low of $16.46 and a 1 year high of $35.99.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, October 16th. The industrial products company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.09). Alcoa had a negative net margin of 6.87% and a negative return on equity of 0.03%. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the company earned $0.63 earnings per share. Alcoa’s revenue was down 24.3% on a year-over-year basis. Sell-side analysts forecast that Alcoa Corp will post -0.84 EPS for the current fiscal year.

Several brokerages have recently commented on AA. B. Riley increased their price objective on Alcoa from $26.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. G.Research lowered Alcoa from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Gabelli lowered Alcoa from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Morgan Stanley reiterated an “equal weight” rating and set a $25.00 price objective on shares of Alcoa in a report on Thursday, November 7th. Finally, Argus reissued a “hold” rating on shares of Alcoa in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $27.27.

Alcoa Profile

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

Further Reading: Limitations of analyzing profit margin

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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