Los Angeles Capital Management LLC decreased its position in Alcoa Co. (NYSE:AA – Get Rating) by 22.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,873 shares of the industrial products company's stock after selling 1,394 shares during the quarter. Los Angeles Capital Management LLC's holdings in Alcoa were worth $439,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in AA. Allspring Global Investments Holdings LLC bought a new position in shares of Alcoa in the fourth quarter worth about $2,132,000. CWM LLC purchased a new stake in shares of Alcoa during the fourth quarter worth about $30,000. KBC Group NV grew its position in shares of Alcoa by 12.0% during the fourth quarter. KBC Group NV now owns 6,047 shares of the industrial products company's stock worth $360,000 after purchasing an additional 649 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Alcoa by 23.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 33,842 shares of the industrial products company's stock worth $2,017,000 after purchasing an additional 6,479 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Alcoa by 1,466.1% during the fourth quarter. Pacer Advisors Inc. now owns 19,310 shares of the industrial products company's stock worth $1,150,000 after purchasing an additional 18,077 shares in the last quarter.
Get Alcoa alerts:Alcoa Stock Down 1.0 %
Alcoa stock opened at $52.76 on Monday. The company has a market cap of $9.49 billion, a PE ratio of 10.37, a PEG ratio of 0.83 and a beta of 2.33. The business's 50-day simple moving average is $48.57 and its two-hundred day simple moving average is $65.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.02 and a current ratio of 1.81. Alcoa Co. has a fifty-two week low of $36.61 and a fifty-two week high of $98.09.
Alcoa (NYSE:AA – Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The industrial products company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.71 by ($1.04). The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.48 billion. Alcoa had a net margin of 7.19% and a return on equity of 30.66%. The business's quarterly revenue was up 28.6% compared to the same quarter last year. During the same period last year, the firm earned $1.49 EPS. Equities analysts anticipate that Alcoa Co. will post 6.53 EPS for the current year.Alcoa Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Tuesday, August 9th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, August 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.76%. Alcoa's payout ratio is currently 7.86%.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on AA shares. B. Riley dropped their target price on Alcoa from $84.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday, June 28th. BMO Capital Markets dropped their target price on Alcoa from $57.00 to $55.00 in a report on Thursday, July 21st. Credit Suisse Group decreased their price target on Alcoa from $82.00 to $63.00 and set a "neutral" rating for the company in a research note on Tuesday, July 19th. The Goldman Sachs Group decreased their price target on Alcoa from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, July 22nd. Finally, Morgan Stanley decreased their target price on Alcoa from $55.00 to $51.00 and set an "equal weight" rating for the company in a research report on Monday, July 25th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $78.64.
Alcoa 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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