Fractal Investments LLC purchased a new position in Alcoa Co. (NYSE:AA – Get Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,700 shares of the industrial products company's stock, valued at approximately $214,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AA. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Alcoa by 1,748.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,437,142 shares of the industrial products company's stock worth $262,723,000 after buying an additional 4,197,142 shares in the last quarter. Soroban Capital Partners LP acquired a new position in shares of Alcoa during the 4th quarter worth approximately $226,347,000. Renaissance Technologies LLC purchased a new stake in shares of Alcoa in the first quarter valued at approximately $318,670,000. Egerton Capital UK LLP acquired a new stake in shares of Alcoa in the first quarter valued at approximately $317,854,000. Finally, Third Point LLC purchased a new position in Alcoa during the first quarter worth approximately $213,821,000.
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Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. Wolfe Research downgraded Alcoa from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 22nd. BMO Capital Markets decreased their target price on shares of Alcoa from $57.00 to $55.00 in a report on Thursday, July 21st. The Goldman Sachs Group reduced their price target on shares of Alcoa from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, July 22nd. Credit Suisse Group decreased their price target on Alcoa from $63.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 21st. Finally, Morgan Stanley raised Alcoa from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $51.00 to $66.00 in a research report on Friday, September 16th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Alcoa presently has an average rating of "Hold" and an average price target of $78.55.
Alcoa Stock Performance
NYSE AA opened at $34.70 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.81 and a quick ratio of 1.02. Alcoa Co. has a 1 year low of $34.35 and a 1 year high of $98.09. The company has a market capitalization of $6.24 billion, a PE ratio of 6.82, a P/E/G ratio of 0.49 and a beta of 2.31. The company has a fifty day moving average of $48.25 and a two-hundred day moving average of $59.41.
Alcoa (NYSE:AA – Get Rating) last released its quarterly earnings data on Wednesday, July 20th. The industrial products company reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.07. Alcoa had a net margin of 7.19% and a return on equity of 30.66%. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the prior year, the firm posted $1.49 earnings per share. Alcoa's revenue for the quarter was up 28.6% on a year-over-year basis. As a group, analysts expect that Alcoa Co. will post 7.16 earnings per share for the current year.
Alcoa Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Tuesday, August 9th were paid a $0.10 dividend. The ex-dividend date was Monday, August 8th. This represents a $0.40 annualized dividend and a yield of 1.15%. Alcoa's dividend payout ratio is presently 7.86%.
Alcoa Company Profile
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Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.
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