Wellesley Investment Advisors Exits Position in Alcoa Inc (AA)

Alcoa Inc (AA) : Wellesley Investment Advisors has sold out all of its stake in Alcoa Inc during the most recent quarter, according to the disclosure filed by the company on May 12, 2016 with the SEC. The investment management company has sold out 86,927 shares of Alcoa Inc which is valued at $799,728.

Other Hedge Funds, Including , New Mexico Educational Retirement Board reduced its stake in AA by selling 2,300 shares or 1.56% in the most recent quarter. The Hedge Fund company now holds 144,979 shares of AA which is valued at $1.3 Million. Alcoa Inc makes up approx 0.06% of New Mexico Educational Retirement Board’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in AA in the latest quarter, The investment management firm added 353,481 additional shares and now holds a total of 33,667,073 shares of Alcoa Inc which is valued at $309.7 Million. Alcoa Inc makes up approx 0.05% of Blackrock Institutional Trust Company N.a.’s portfolio. Airain Ltd sold out all of its stake in AA during the most recent quarter. The investment firm sold 63,720 shares of AA which is valued $586,224.Trust Investment Advisors boosted its stake in AA in the latest quarter, The investment management firm added 26 additional shares and now holds a total of 145,876 shares of Alcoa Inc which is valued at $1.5 Million. Alcoa Inc makes up approx 1.69% of Trust Investment Advisors’s portfolio.Russell Frank Co reduced its stake in AA by selling 5,629 shares or 2.51% in the most recent quarter. The Hedge Fund company now holds 218,286 shares of AA which is valued at $2.4 Million.

Alcoa Inc closed down -0.01 points or -0.11% at $9.11 with 1,88,80,936 shares getting traded on Friday. Post opening the session at $9.23, the shares hit an intraday low of $9.02 and an intraday high of $9.2789 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 $0.07 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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