Hsbc Holdings Plc buys $141.7 Million stake in Alcoa Inc (AA)

Alcoa Inc (AA) : Hsbc Holdings Plc scooped up 12,976,669 additional shares in Alcoa Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 15,404,344 shares of Alcoa Inc which is valued at $141.7 Million.Alcoa Inc makes up approximately 0.48% of Hsbc Holdings Plc’s portfolio.

Other Hedge Funds, Including , Bokf Na sold out all of its stake in AA during the most recent quarter. The investment firm sold 339,891 shares of AA which is valued $3.1 Million.Raymond James Associates boosted its stake in AA in the latest quarter, The investment management firm added 51,563 additional shares and now holds a total of 263,367 shares of Alcoa Inc which is valued at $2.4 Million. Alcoa Inc makes up approx 0.01% of Raymond James Associates’s portfolio.Guardian Life Insurance Co Of America reduced its stake in AA by selling 1,371 shares or 22.05% in the most recent quarter. The Hedge Fund company now holds 4,846 shares of AA which is valued at $44,583. Alcoa Inc makes up approx 0.01% of Guardian Life Insurance Co Of America’s portfolio.Heartland Advisors Inc reduced its stake in AA by selling 276,833 shares or 92.0% in the most recent quarter. The Hedge Fund company now holds 24,075 shares of AA which is valued at $241,713. Alcoa Inc makes up approx 0.01% of Heartland Advisors Inc’s portfolio.

Alcoa Inc opened for trading at $9.51 and hit $9.68 on the upside on Wednesday, eventually ending the session at $9.6, with a gain of 1.91% or 0.18 points. The heightened volatility saw the trading volume jump to 1,39,99,313 shares. Company has a market cap of $12,625 M.

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. 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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