Icm Asset Management Incwa Lowers stake in Alcoa Inc (AA)

Alcoa Inc (AA) : Icm Asset Management Incwa reduced its stake in Alcoa Inc by 7.64% during the most recent quarter end. The investment management company now holds a total of 264,452 shares of Alcoa Inc which is valued at $2,655,098 after selling 21,869 shares in Alcoa Inc , the firm said in a disclosure report filed with the SEC on May 2, 2016.Alcoa Inc makes up approximately 4.14% of Icm Asset Management Incwa’s portfolio.

Alcoa Inc opened for trading at $9.99 and hit $10.29 on the upside on Friday, eventually ending the session at $10.04, with a gain of 0.20% or 0.02 points. The heightened volatility saw the trading volume jump to 1,84,51,127 shares. Company has a market cap of $13,204 M.

Other Hedge Funds, Including , Evercore Wealth Management reduced its stake in AA by selling 223 shares or 36.68% in the most recent quarter. The Hedge Fund company now holds 385 shares of AA which is valued at $3,865.Cubic Asset Management reduced its stake in AA by selling 1,465 shares or 0.24% in the most recent quarter. The Hedge Fund company now holds 601,650 shares of AA which is valued at $6,720,431. Alcoa Inc makes up approx 2.22% of Cubic Asset Management’s portfolio. Wespac Advisors added AA to its portfolio by purchasing 10,270 company shares during the most recent quarter which is valued at $114,716. Alcoa Inc makes up approx 0.14% of Wespac Advisors’s portfolio.Sigma Planning Corp reduced its stake in AA by selling 4,783 shares or 14.1% in the most recent quarter. The Hedge Fund company now holds 29,133 shares of AA which is valued at $302,983. Alcoa Inc makes up approx 0.04% of Sigma Planning Corp’s portfolio.

On the company’s financial health, Alcoa Inc reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 11, 2016. Analyst had a consensus of $0.03. The company had revenue of $4947.00 million for the quarter, compared to analysts expectations of $5153.58 million. The company’s revenue was down -15.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.28 EPS.

Many Wall Street Analysts have commented on Alcoa Inc. Rosenblatt Initiated Alcoa Inc on Apr 26, 2016 to “Buy”, Price Target of the shares are set at $15.Shares were Reiterated by Stifel on Apr 12, 2016 to “Buy” and Lowered the Price Target to $ 13 from a previous price target of $14 .Alcoa Inc was Initiated by Credit Suisse to “Outperform” on Mar 11, 2016.

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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