Contravisory Investment Management Inc. Has $7.52 Million Position in Alcoa Co. (NYSE:AA)

Contravisory Investment Management Inc. lessened its holdings in shares of Alcoa Co. (NYSE:AA) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,910 shares of the industrial products company’s stock after selling 560 shares during the quarter. Contravisory Investment Management Inc. owned 0.08% of Alcoa worth $7,515,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AA. Newbridge Financial Services Group Inc. bought a new stake in Alcoa during the second quarter worth $27,000. UMB Bank n.a. grew its stake in shares of 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 acquiring an additional 631 shares in the last quarter. Quarry LP bought a new stake in shares of Alcoa in the 3rd quarter worth $43,000. Continuum Advisory LLC lifted its position in shares of 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 purchasing an additional 1,070 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Alcoa by 399.0% during the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 1,157 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AA shares. Jefferies Financial Group decreased their price objective on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Argus upgraded Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. UBS Group raised their target price on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $41.00 to $50.00 in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.45.

Insider Buying and Selling

In related news, EVP Renato Bacchi sold 23,867 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the sale, the executive vice president now owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. This represents a 29.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.08% of the stock is currently owned by insiders.

Alcoa Stock Performance

NYSE AA opened at $38.19 on Thursday. The company’s 50 day moving average is $40.94 and its 200-day moving average is $37.78. The firm has a market cap of $9.87 billion, a P/E ratio of -21.70, a price-to-earnings-growth ratio of 0.79 and a beta of 2.47. Alcoa Co. has a 12-month low of $24.86 and a 12-month high of $47.77. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.34. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.14) earnings per share. Sell-side analysts predict that Alcoa Co. will post 0.9 earnings per share for the current 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.