Eurizon Capital SGR S.p.A. Makes New Investment in Alcoa $AA

Eurizon Capital SGR S.p.A. purchased a new position in Alcoa (NYSE:AA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 121,277 shares of the industrial products company’s stock, valued at approximately $6,582,000.

A number of other large investors have also recently made changes to their positions in AA. NewEdge Advisors LLC increased its stake in Alcoa by 1,098.0% during the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 10,727 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Alcoa by 0.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock worth $19,722,000 after acquiring an additional 4,624 shares during the last quarter. Invesco Ltd. increased its stake in Alcoa by 1.9% during the second quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock worth $18,902,000 after acquiring an additional 12,008 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Alcoa by 173.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 1,295 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Alcoa by 320.1% during the second quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock worth $7,967,000 after acquiring an additional 205,717 shares during the last quarter.

Alcoa Stock Up 0.4%

Shares of NYSE AA opened at $77.99 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.48 and a quick ratio of 0.88. The company has a market cap of $20.58 billion, a P/E ratio of 19.74 and a beta of 1.56. Alcoa has a 1 year low of $25.83 and a 1 year high of $79.61. The firm has a 50-day simple moving average of $67.05 and a two-hundred day simple moving average of $59.18.

Alcoa (NYSE:AA) last issued its earnings results on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.Alcoa’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.15 earnings per share. Research analysts anticipate that Alcoa will post 7.95 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, May 19th. Alcoa’s dividend payout ratio is currently 10.13%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AA shares. JPMorgan Chase & Co. boosted their price objective on Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Morgan Stanley raised Alcoa from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $64.00 to $80.00 in a research note on Thursday, April 9th. Argus set a $73.00 price objective on Alcoa in a research note on Monday, April 27th. UBS Group raised Alcoa from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $75.00 to $80.00 in a research note on Friday, May 22nd. Finally, Zacks Research cut Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $68.60.

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.