Alcoa Co. (NYSE:AA) Shares Bought by Citigroup Inc.

Citigroup Inc. raised its position in shares of Alcoa Co. (NYSE:AA) by 37.8% during the 2nd quarter, Holdings Channel reports. The firm owned 1,313,525 shares of the industrial products company’s stock after buying an additional 360,620 shares during the quarter. Citigroup Inc.’s holdings in Alcoa were worth $48,390,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in AA. MUFG Securities EMEA plc acquired a new stake in Alcoa during the 2nd quarter valued at approximately $16,578,000. Bank of New York Mellon Corp lifted its stake in Alcoa by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 845,972 shares of the industrial products company’s stock valued at $27,486,000 after acquiring an additional 15,652 shares during the period. Brandywine Global Investment Management LLC lifted its stake in Alcoa by 1.7% during the 1st quarter. Brandywine Global Investment Management LLC now owns 1,064,397 shares of the industrial products company’s stock valued at $34,582,000 after acquiring an additional 18,142 shares during the period. Delta Investment Management LLC acquired a new stake in Alcoa during the 2nd quarter worth about $2,485,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in Alcoa by 83.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 57,181 shares of the industrial products company’s stock worth $1,858,000 after purchasing an additional 26,075 shares during the period.

Alcoa stock opened at $48.00 on Wednesday. Alcoa Co. has a 1 year low of $10.98 and a 1 year high of $51.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.57. The company’s fifty day moving average price is $40.98 and its 200 day moving average price is $37.03. The stock has a market capitalization of $8.97 billion, a P/E ratio of 21.05 and a beta of 2.65.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, July 14th. The industrial products company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.18. Alcoa had a net margin of 4.12% and a return on equity of 5.16%. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the firm earned ($0.02) EPS. The company’s revenue for the quarter was up 31.9% on a year-over-year basis. Sell-side analysts predict that Alcoa Co. will post 5.08 EPS for the current year.

Several brokerages have weighed in on AA. Credit Suisse Group increased their price target on Alcoa from $51.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday. Jefferies Financial Group boosted their price target on Alcoa from $35.50 to $40.00 and gave the company a “hold” rating in a report on Thursday, July 1st. Morgan Stanley boosted their price target on Alcoa from $50.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, July 20th. Zacks Investment Research lowered shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Thursday, July 22nd. Finally, Citigroup upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Friday, July 16th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $46.30.

Alcoa Company Profile

Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.

Further Reading: What’s a Black Swan?

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