Duality Advisers LP Makes New Investment in Alcoa Corp (NYSE:AA)

Duality Advisers LP bought a new stake in Alcoa Corp (NYSE:AA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 133,610 shares of the industrial products company’s stock, valued at approximately $1,502,000. Duality Advisers LP owned approximately 0.07% of Alcoa as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. raised its stake 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 worth $5,287,000 after buying an additional 1,251 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Alcoa by 138.0% in the second quarter. Parallel Advisors LLC now owns 2,230 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 1,293 shares during the period. Verus Capital Partners LLC purchased a new stake in shares of Alcoa during the 4th quarter worth $34,000. World Asset Management Inc grew its stake in shares of Alcoa by 14.2% during the 1st quarter. World Asset Management Inc now owns 13,569 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 1,692 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of Alcoa by 10.5% in the 4th quarter. Raymond James & Associates now owns 19,073 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 1,815 shares in the last quarter.

Shares of NYSE AA opened at $13.00 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.42 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average price is $11.86 and its two-hundred day moving average price is $11.07. Alcoa Corp has a 52-week low of $5.16 and a 52-week high of $23.47. The stock has a market capitalization of $2.42 billion, a P/E ratio of -3.77 and a beta of 2.19.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, July 15th. The industrial products company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.36. Alcoa had a negative return on equity of 3.16% and a negative net margin of 6.72%. The business had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the prior year, the firm earned ($0.01) EPS. The business’s quarterly revenue was down 20.8% on a year-over-year basis. As a group, equities research analysts expect that Alcoa Corp will post -1.15 earnings per share for the current year.

A number of brokerages have recently weighed in on AA. Morgan Stanley lifted their price objective on Alcoa from $11.70 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th. Zacks Investment Research raised Alcoa from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Wednesday, June 17th. Deutsche Bank downgraded Alcoa from a “buy” rating to a “hold” rating and set a $10.00 price objective on the stock. in a research report on Monday, June 15th. Citigroup lifted their price objective on Alcoa from $8.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 16th. Finally, Credit Suisse Group upped their target price on shares of Alcoa from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Alcoa has an average rating of “Hold” and an average target price of $14.50.

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.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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