SG Americas Securities LLC Boosts Position in Alcoa Corp (AA)

SG Americas Securities LLC increased its position in shares of Alcoa Corp (NYSE:AA) by 513.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,467 shares of the industrial products company’s stock after acquiring an additional 34,705 shares during the period. SG Americas Securities LLC’s holdings in Alcoa were worth $1,675,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in Alcoa in the 2nd quarter valued at about $105,000. Quad Cities Investment Group LLC acquired a new stake in Alcoa in the 2nd quarter valued at about $112,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Alcoa by 104.6% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 3,931 shares of the industrial products company’s stock worth $159,000 after acquiring an additional 2,010 shares in the last quarter. Hartford Investment Management Co. acquired a new stake in shares of Alcoa during the 2nd quarter worth about $206,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Alcoa during the 2nd quarter worth about $230,000.

AA has been the topic of several research analyst reports. Berenberg Bank initiated coverage on Alcoa in a research report on Friday, September 21st. They set a “buy” rating and a $54.00 target price on the stock. B. Riley raised Alcoa from a “neutral” rating to a “buy” rating and raised their target price for the stock from $48.00 to $50.00 in a research report on Wednesday, September 12th. Zacks Investment Research lowered Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 4th. Citigroup cut their target price on Alcoa from $53.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, November 16th. Finally, Credit Suisse Group cut their target price on Alcoa from $65.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $60.07.

Shares of NYSE AA opened at $32.05 on Tuesday. The stock has a market cap of $5.93 billion, a PE ratio of 10.65, a price-to-earnings-growth ratio of 2.15 and a beta of 0.70. The company has a current ratio of 1.40, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. Alcoa Corp has a fifty-two week low of $30.94 and a fifty-two week high of $62.35.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, October 17th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.27. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a positive return on equity of 10.38% and a negative net margin of 0.09%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. Equities analysts forecast that Alcoa Corp will post 3.67 EPS for the current year.

Alcoa declared that its board has initiated a share repurchase program on Wednesday, October 17th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the industrial products company to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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Alcoa Profile

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.

Read More: Analyzing a company’s cash flow statement

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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