Caxton Associates LLP Takes $942,000 Position in Alcoa $AA

Caxton Associates LLP purchased a new position in Alcoa (NYSE:AA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,931 shares of the industrial products company’s stock, valued at approximately $942,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its stake in Alcoa by 9.8% during the 2nd quarter. State Street Corp now owns 10,737,466 shares of the industrial products company’s stock valued at $316,863,000 after acquiring an additional 959,240 shares during the period. Dimensional Fund Advisors LP lifted its position in Alcoa by 33.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,803,086 shares of the industrial products company’s stock valued at $207,490,000 after purchasing an additional 1,721,222 shares during the period. Geode Capital Management LLC boosted its holdings in Alcoa by 4.8% in the second quarter. Geode Capital Management LLC now owns 4,637,897 shares of the industrial products company’s stock worth $136,898,000 after purchasing an additional 211,141 shares during the last quarter. Norges Bank bought a new stake in Alcoa in the 2nd quarter worth approximately $97,933,000. Finally, ARGA Investment Management LP lifted its holdings in shares of Alcoa by 2.8% during the 2nd quarter. ARGA Investment Management LP now owns 3,018,772 shares of the industrial products company’s stock valued at $89,084,000 after buying an additional 83,410 shares during the period.

Alcoa Price Performance

Shares of NYSE:AA opened at $45.54 on Tuesday. The business’s 50 day moving average is $39.08 and its 200-day moving average is $33.58. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $11.79 billion, a PE ratio of 10.52, a PEG ratio of 0.24 and a beta of 1.99. Alcoa has a 1-year low of $21.53 and a 1-year high of $48.12.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.13. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $3.03 billion. Alcoa had a return on equity of 15.85% and a net margin of 8.91%.The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. Sell-side analysts predict that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Tuesday, November 4th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, November 4th. Alcoa’s dividend payout ratio (DPR) is currently 9.24%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AA. BMO Capital Markets increased their price objective on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Argus set a $45.00 price objective on Alcoa in a research report on Thursday, October 30th. HSBC increased their target price on Alcoa from $33.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Morgan Stanley restated an “overweight” rating and issued a $52.00 price target on shares of Alcoa in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alcoa from $35.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.85.

About Alcoa

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 two segments, 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.