Wealthtrust Axiom buys $7,006,013 stake in Alcoa Inc (AA)

Alcoa Inc (AA) : Wealthtrust Axiom scooped up 5,215 additional shares in Alcoa Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 652,329 shares of Alcoa Inc which is valued at $7,006,013.Alcoa Inc makes up approximately 2.64% of Wealthtrust Axiom’s portfolio.

Other Hedge Funds, Including , Goelzer Investment Management boosted its stake in AA in the latest quarter, The investment management firm added 1,502 additional shares and now holds a total of 164,889 shares of Alcoa Inc which is valued at $1,742,877. Alcoa Inc makes up approx 0.23% of Goelzer Investment Management’s portfolio.Cutler Group Lp boosted its stake in AA in the latest quarter, The investment management firm added 11,474 additional shares and now holds a total of 55,115 shares of Alcoa Inc which is valued at $590,282. Alcoa Inc makes up approx 0.04% of Cutler Group Lp’s portfolio.Berson Corrado Investment Advisors boosted its stake in AA in the latest quarter, The investment management firm added 1,803 additional shares and now holds a total of 40,675 shares of Alcoa Inc which is valued at $399,429. Alcoa Inc makes up approx 0.15% of Berson Corrado Investment Advisors’s portfolio.

Alcoa Inc closed down -0.06 points or -0.56% at $10.62 with 1,64,19,775 shares getting traded on Friday. Post opening the session at $10.61, the shares hit an intraday low of $10.42 and an intraday high of $10.65 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

Investors should note that on Jul 22, 2016, Alcoa Inc announced a cash dividend of $0.0300. The company’s management has announced Aug 3, 2016 as the ex-dividend date and fixed the record date on Aug 5, 2016. The payable date has been fixed on Aug 25, 2016.

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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