PNC Financial Services Group Reduces $1M in Alcoa Corporation ($AA)
Key Points
- PNC Financial Services Group changed its Alcoa Corporation ($AA) stake by 8.9% last quarter, cutting to 169,993 shares worth $11.69 million.
- Wall Street's consensus rating on $AA is Buy and an average price target of $82.25.
- $AA last traded around $68.78.
PNC Financial Services Group trimmed its position in Alcoa Corporation ($AA) by 8.9% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 169,993 shares of Alcoa Corporation after selling 16,585 shares during the quarter. PNC Financial Services Group's holdings in Alcoa Corporation were worth $11.69 million as of its most recent filing.
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About Alcoa Corporation
Alcoa Corporation, together with its subsidiaries, engages in the bauxite mining, alumina refining, aluminum production, and energy generation business in Australia, Brazil, Canada, Iceland, Norway, Spain, the United States, and internationally. The company operates through two segments: Alumina and Aluminum. It operates bauxite and other aluminous ores mining and processes bauxite into alumina for sale to aluminum smelter customers and customers who process it into industrial chemical products through supply contracts to third parties, as well as aluminum smelting and casting businesses. The company also offers aluminium powder and scrap and primary aluminum in the form of commodity grade ingot and value-add ingot to customers that produce products for transportation, building and construction, packaging, wire, and other industrial markets. In addition, it provides energy that generates and sells electricity in the wholesale market to traders, large industrial consumers, distribution companies, and other generation companies. The company was formerly known as Alcoa Upstream Corporation and changed its name to Alcoa Corporation in May 2016. The company was founded in 1886 and is headquartered in Pittsburgh, Pennsylvania.
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