Signia Capital Management Lowers stake in Alcoa Inc (AA)

Alcoa Inc (AA) : Signia Capital Management reduced its stake in Alcoa Inc by 1.86% during the most recent quarter end. The investment management company now holds a total of 70,099 shares of Alcoa Inc which is valued at $729,731 after selling 1,327 shares in Alcoa Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Alcoa Inc makes up approximately 2.15% of Signia Capital Management’s portfolio.

Other Hedge Funds, Including , New Mexico Educational Retirement Board boosted its stake in AA in the latest quarter, The investment management firm added 8,300 additional shares and now holds a total of 153,279 shares of Alcoa Inc which is valued at $1,595,634. Alcoa Inc makes up approx 0.07% of New Mexico Educational Retirement Board’s portfolio.Hudock Capital Group boosted its stake in AA in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 518 shares of Alcoa Inc which is valued at $5,392.New York State Teachers Retirement System boosted its stake in AA in the latest quarter, The investment management firm added 26,724 additional shares and now holds a total of 2,337,289 shares of Alcoa Inc which is valued at $24,705,145. Alcoa Inc makes up approx 0.06% of New York State Teachers Retirement System’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in AA by selling 93,250 shares or 15.99% in the most recent quarter. The Hedge Fund company now holds 489,954 shares of AA which is valued at $4,811,348. Alcoa Inc makes up approx 0.02% of Bnp Paribas Arbitrage Sa’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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