Cranbrook Wealth Management Exits Position in Alcoa Inc (AA)

Alcoa Inc (AA) : Cranbrook Wealth Management has sold out all of its stake in Alcoa Inc during the most recent quarter, according to the disclosure filed by the company on Aug 2, 2016 with the SEC. The investment management company has sold out 404 shares of Alcoa Inc which is valued at $4,206.

Other Hedge Funds, Including , State Of New Jersey Common Pension Fund D reduced its stake in AA by selling 100,000 shares or 2.33% in the most recent quarter. The Hedge Fund company now holds 4,200,000 shares of AA which is valued at $43,722,000. Alcoa Inc makes up approx 0.19% of State Of New Jersey Common Pension Fund D’s portfolio.Ngam Advisors boosted its stake in AA in the latest quarter, The investment management firm added 13,418 additional shares and now holds a total of 170,993 shares of Alcoa Inc which is valued at $1,780,037. Alcoa Inc makes up approx 0.02% of Ngam Advisors’s portfolio.Bollard Group boosted its stake in AA in the latest quarter, The investment management firm added 120 additional shares and now holds a total of 37,679 shares of Alcoa Inc which is valued at $398,267. Alcoa Inc makes up approx 0.03% of Bollard Group’s portfolio.Ferguson Wellman Capital Management Inc reduced its stake in AA by selling 2,292 shares or 15.03% in the most recent quarter. The Hedge Fund company now holds 12,955 shares of AA which is valued at $141,469. Alcoa Inc makes up approx 0.01% of Ferguson Wellman Capital Management Inc’s portfolio.

Alcoa Inc closed down -0.05 points or -0.48% at $10.45 with 95,01,383 shares getting traded on Monday. Post opening the session at $10.5, the shares hit an intraday low of $10.41 and an intraday high of $10.6 and the price fluctuated in this range throughout the day.Shares ended Monday 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.

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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