Longer Investments adds Alcoa Inc (AA) to its portfolio

Alcoa Inc (AA) : Longer Investments added new position in Alcoa Inc during the most recent quarter end. The investment management firm now holds 80,010 shares of Alcoa Inc which is valued at $848,906 , the company said in a statement filed on Jul 19, 2016 with the SEC.Alcoa Inc makes up approximately 0.91% of Longer Investments’s portfolio.

Other Hedge Funds, Including , Cribstone Capital Management added AA to its portfolio by purchasing 576 company shares during the most recent quarter which is valued at $6,111.Dnb Asset Management As boosted its stake in AA in the latest quarter, The investment management firm added 3,000 additional shares and now holds a total of 110,875 shares of Alcoa Inc which is valued at $1,088,793. Alcoa Inc makes up approx 0.02% of Dnb Asset Management As’s portfolio.Curian Capital reduced its stake in AA by selling 310,853 shares or 66.93% in the most recent quarter. The Hedge Fund company now holds 153,615 shares of AA which is valued at $1,508,499. Alcoa Inc makes up approx 0.11% of Curian Capital’s portfolio.

Alcoa Inc closed down -0.02 points or -0.19% at $10.61 with 1,63,05,409 shares getting traded on Wednesday. Post opening the session at $10.51, the shares hit an intraday low of $10.35 and an intraday high of $10.63 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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.Rosenblatt Initiated Alcoa Inc on Apr 26, 2016 to “Buy”, Price Target of the shares are set at $15.

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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