Ladenburg Thalmann Financial Services Inc. Boosts Stake in Alcoa Corp (AA)

Ladenburg Thalmann Financial Services Inc. grew its holdings in Alcoa Corp (NYSE:AA) by 16.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,407 shares of the industrial products company’s stock after acquiring an additional 3,759 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Alcoa were worth $1,231,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Alcoa by 14.5% in the second quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock worth $484,895,000 after purchasing an additional 1,885,745 shares during the period. Elliott Management Corp lifted its position in Alcoa by 14.7% in the second quarter. Elliott Management Corp now owns 11,737,457 shares of the industrial products company’s stock worth $383,228,000 after purchasing an additional 1,500,000 shares during the period. Balyasny Asset Management LLC lifted its position in Alcoa by 22.8% in the second quarter. Balyasny Asset Management LLC now owns 7,848,750 shares of the industrial products company’s stock worth $256,262,000 after purchasing an additional 1,458,488 shares during the period. BlackRock Inc. lifted its position in Alcoa by 14.1% in the second quarter. BlackRock Inc. now owns 7,779,093 shares of the industrial products company’s stock worth $253,986,000 after purchasing an additional 958,494 shares during the period. Finally, Old Mutual Global Investors UK Ltd. lifted its position in Alcoa by 163.5% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 4,539,019 shares of the industrial products company’s stock worth $148,198,000 after purchasing an additional 2,816,320 shares during the period.

A number of research analysts have issued reports on the company. Gabelli cut Alcoa from a “buy” rating to a “hold” rating and lifted their price objective for the company from $57.00 to $60.00 in a report on Wednesday, October 4th. Zacks Investment Research raised Alcoa from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Thursday, September 14th. Berenberg Bank set a $44.00 price objective on Alcoa and gave the company a “hold” rating in a report on Wednesday, October 18th. Deutsche Bank raised Alcoa from a “hold” rating to a “buy” rating and lifted their price objective for the company from $44.00 to $60.00 in a report on Tuesday, September 12th. Finally, Macquarie assumed coverage on Alcoa in a report on Thursday, September 7th. They set an “outperform” rating for the company. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $51.47.

Shares of Alcoa Corp (AA) opened at $46.52 on Wednesday. Alcoa Corp has a 12 month low of $28.01 and a 12 month high of $50.31. The firm has a market capitalization of $8,246.47 and a price-to-earnings ratio of 21.12. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.17.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, October 18th. The industrial products company reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.05). Alcoa had a net margin of 2.61% and a return on equity of 4.90%. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business posted $0.32 earnings per share. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. sell-side analysts predict that Alcoa Corp will post 3.19 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Ladenburg Thalmann Financial Services Inc. Boosts Stake in Alcoa Corp (AA)” was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://www.com-unik.info/2017/12/20/ladenburg-thalmann-financial-services-inc-boosts-stake-in-alcoa-corp-aa.html.

Alcoa Profile

Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.

Want to see what other hedge funds are holding AA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alcoa Corp (NYSE:AA).

Institutional Ownership by Quarter for Alcoa (NYSE:AA)

Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit