Alcoa Inc (NYSE:AA).
Millennium Management LLC reports that it raised its ownership in Alcoa Inc by 530,847 shares in its quarterly SEC filing. Its stake was worth $117,988,000 an increase of 80.7% according to the filing.
Several firms have updated their holdings. Renaissance Technologies LLC downsized its position by shedding 783,800 shares a decrease of 28.8%. Renaissance Technologies LLC now controls 1,935,696 shares valued at $90,242,000. The total value of its holdings increased 1.6%. As of quarter end Millennium Management LLC had bought a total of 530,847 shares growing its holdings by 26.5%. The value in dollars went from $65,300,000 to $117,988,000 a change of $52,688,000 quarter to quarter.
Millennium Management LLC grew its ownership by buying 530,847 shares an increase of 26.5% as of 09/30/2017. Millennium Management LLC now holds 2,530,847 shares worth $117,988,000. The value of the position overall is up by 80.7%. As of the end of the quarter Orbis Allan Gray Ltd had acquired 34,988 shares growing its stake by 1.8%. The value of the investment in AA increased from $62,974,000 to $91,550,000 increasing 45.4% since the last quarter.
Millennium Management LLC added to its investment by buying 530,847 shares an increase of 26.5% in the quarter. Millennium Management LLC currently owns 2,530,847 shares with a value of $117,988,000. The total value of its holdings increased 80.7%. As of the end of the quarter Millennium Management LLC had acquired 530,847 shares growing its position 26.5%. The value of the company’s investment in Alcoa Inc went from $65,300,000 to $117,988,000 a change of 80.7% quarter over quarter.
First Pacific Advisors, LLC cut its holdings by selling 3,057,191 shares a decrease of 59.4% from 06/30/2017 to 09/30/2017. First Pacific Advisors, LLC controls 2,087,667 shares with a value of $97,327,000. The value of the position overall is down by 42.1%.
October 20 investment analysts at Citigroup left the company rating at “Buy” targeting a price of $55.00. On October 19 J P Morgan Chase & Co kept the company rating at “Buy” projecting a price of $60.00.
On October 18, 2017 Berenberg Bank updated guidance on AA and giving a rating of “Hold” and projecting a price target of $44.00. On October 11 analysts at Cowen and Company released a research note on AA stating a rating of “Hold” and price target of $51.00.
October 10 investment analysts at Macquarie held the stock rating at “Buy” with a current price target of $62.00.
The company is trading up since yesterday’s close of 42.2. The company’s P/E ratio is 29.16 and market cap is 7.90B. In the last earnings report the EPS was $1.46 with 185.02M shares currently outstanding.
Investors are more bearish on Alcoa Inc of late if you take into consideration the rise in short interest. The stock recorded a rise in short interest between October 13, 2017 and October 31, 2017 of 14.09%. Short interest increased from 5,047,408 to 5,758,378 over that timeframe. The days to cover decreased to 1.0 and the short interest percentage is 0.03% as of October 31.