Baader Bank Aktiengesellschaft Acquires New Position in Alcoa $AA

Baader Bank Aktiengesellschaft bought a new position in Alcoa (NYSE:AA) in the first quarter, according to its most recent filing with the SEC. The firm bought 36,036 shares of the industrial products company’s stock, valued at approximately $2,358,000.

Other hedge funds have also bought and sold shares of the company. Basepoint Wealth LLC acquired a new stake in shares of Alcoa during the fourth quarter worth $25,000. Advisory Services Network LLC purchased a new position in Alcoa in the 3rd quarter worth $27,000. Raleigh Capital Management Inc. lifted its position in Alcoa by 52,500.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 525 shares during the period. CoreCap Advisors LLC grew its stake in Alcoa by 74.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 237 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Alcoa by 5,281.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 581 shares during the period.

Alcoa Stock Performance

NYSE AA opened at $43.60 on Tuesday. The firm has a market capitalization of $11.51 billion, a P/E ratio of 8.97, a PEG ratio of 0.48 and a beta of 1.63. The stock has a 50-day simple moving average of $61.27 and a two-hundred day simple moving average of $62.45. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. Alcoa has a fifty-two week low of $28.11 and a fifty-two week high of $84.38.

Alcoa (NYSE:AA) last issued its earnings results on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same quarter in the previous year, the company earned $0.39 EPS. On average, equities analysts forecast that Alcoa will post 6.79 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. Alcoa’s payout ratio is presently 8.23%.

Analyst Upgrades and Downgrades

AA has been the subject of several research analyst reports. B. Riley Financial reduced their price objective on Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Zacks Research lowered Alcoa from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Wells Fargo & Company cut their price target on shares of Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a report on Friday. Wall Street Zen lowered shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings upgraded shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.73.

Alcoa Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.