Fairpointe Capital Lowers stake in Alcoa Inc (AA)

Alcoa Inc (AA) : Fairpointe Capital reduced its stake in Alcoa Inc by 6.2% during the most recent quarter end. The investment management company now holds a total of 15,566,046 shares of Alcoa Inc which is valued at $158,306,688 after selling 1,028,179 shares in Alcoa Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Alcoa Inc makes up approximately 3.28% of Fairpointe Capital’s portfolio.

Other Hedge Funds, Including , Andra Ap-fonden boosted its stake in AA in the latest quarter, The investment management firm added 28,300 additional shares and now holds a total of 325,100 shares of Alcoa Inc which is valued at $3,306,267. Alcoa Inc makes up approx 0.08% of Andra Ap-fonden’s portfolio.Neuberger Berman Group reduced its stake in AA by selling 4,577 shares or 17.31% in the most recent quarter. The Hedge Fund company now holds 21,871 shares of AA which is valued at $229,646.Winslow Evans Crocker reduced its stake in AA by selling 350 shares or 10.0% in the most recent quarter. The Hedge Fund company now holds 3,150 shares of AA which is valued at $33,296. Alcoa Inc makes up approx 0.01% of Winslow Evans Crocker’s portfolio.

Alcoa Inc opened for trading at $10.01 and hit $10.26 on the upside on Monday, eventually ending the session at $10.26, with a gain of 2.60% or 0.26 points. The heightened volatility saw the trading volume jump to 1,36,21,759 shares. Company has a market cap of $13,496 M.

On the company’s financial health, Alcoa Inc reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 11, 2016. Analyst had a consensus of $0.10. The company had revenue of $5295.00 million for the quarter, compared to analysts expectations of $5224.35 million. The company’s revenue was down -10.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on Alcoa Inc. Alcoa Inc was Upgraded by BofA/Merrill to ” Buy” on May 23, 2016. Goldman Initiated Alcoa Inc on May 19, 2016 to “Neutral”, Price Target of the shares are set at $9.

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.

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