Balyasny Asset Management buys $134,998,037 stake in Alcoa Inc (AA)

Alcoa Inc (AA) : Balyasny Asset Management scooped up 4,555,914 additional shares in Alcoa Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 4,557,665 shares of Alcoa Inc which is valued at $134,998,037.Alcoa Inc makes up approximately 0.81% of Balyasny Asset Management’s portfolio.

Other Hedge Funds, Including , Envestnet Asset Management Inc sold out all of its stake in AA during the most recent quarter. The investment firm sold 19,295 shares of AA which is valued $571,518.Signia Capital Management reduced its stake in AA by selling 107 shares or 1.37% in the most recent quarter. The Hedge Fund company now holds 7,681 shares of AA which is valued at $223,517. Alcoa Inc makes up approx 0.59% of Signia Capital Management’s portfolio.Nomura Asset Management Co Ltd boosted its stake in AA in the latest quarter, The investment management firm added 1,033 additional shares and now holds a total of 21,655 shares of Alcoa Inc which is valued at $630,161. Alcoa Inc makes up approx 0.01% of Nomura Asset Management Co Ltd’s portfolio.Cibc World Markets boosted its stake in AA in the latest quarter, The investment management firm added 4,288 additional shares and now holds a total of 8,601 shares of Alcoa Inc which is valued at $207,714.

Alcoa Inc closed down -1.43 points or -4.49% at $30.42 with 44,21,730 shares getting traded on Monday. Post opening the session at $31.73, the shares hit an intraday low of $30.16 and an intraday high of $31.77 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Alcoa Inc reported $0.32 EPS for the quarter, based on the information available during the earnings call on Oct 11, 2016. Analyst had a consensus estimate of $0.32. The company had revenue of $5213.00 million for the quarter, compared to analysts expectations of $5292.01 million. The company’s revenue was down -6.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.07 EPS.

Investors should note that on Sep 29, 2016, Alcoa Inc announced a cash dividend of $0.9375. The company’s management has announced Dec 7, 2016 as the ex-dividend date and fixed the record date on Dec 9, 2016. The payable date has been fixed on Jan 1, 2017.

Many Wall Street Analysts have commented on Alcoa Inc. Cowen Initiated Alcoa Inc on Nov 7, 2016 to “Market Perform”, Price Target of the shares are set at $29.Citigroup Initiated Alcoa Inc on Nov 7, 2016 to “Buy”, Price Target of the shares are set at $30.Morgan Stanley Initiated Alcoa Inc on Nov 7, 2016 to “Overweight”, Price Target of the shares are set at $27.

Alcoa Inc. (Alcoa) is engaged in lightweight metals engineering and manufacturing. The Company operates in four segments: Alumina Primary Metals Global Rolled Products and Engineered Products and Solutions. Its products which include aluminum titanium and nickel are used in aircraft automobiles commercial transportation packaging building and construction oil and gas defense consumer electronics and industrial applications across the world. It also produces and manages primary aluminum fabricated aluminum and alumina combined through its active participation in the aspects of the industry including technology mining refining smelting fabricating and recycling. The Company has investments and operating activities in Australia Brazil China Guinea Iceland Russia and Saudi Arabia among others. It produces three dimensional (3D-printed) titanium specialty metals and plastic parts for aerospace medical and energy applications.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Alcoa Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Alcoa Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.