15,683 Shares in Alcoa $AA Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH purchased a new position in Alcoa (NYSE:AA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,683 shares of the industrial products company’s stock, valued at approximately $842,000.

A number of other institutional investors have also added to or reduced their stakes in AA. NewEdge Advisors LLC increased its position in Alcoa by 1,098.0% during the 1st quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 10,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Alcoa by 0.7% in the 1st 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 valued at $19,722,000 after buying an additional 4,624 shares in the last quarter. Invesco Ltd. boosted its stake in Alcoa by 1.9% in the 2nd quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock worth $18,902,000 after purchasing an additional 12,008 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Alcoa by 173.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,295 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Alcoa by 320.1% in the 2nd quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock worth $7,967,000 after purchasing an additional 205,717 shares in the last quarter.

Alcoa Trading Down 9.3%

Shares of AA stock opened at $65.70 on Thursday. The company’s 50-day moving average price is $69.44 and its 200-day moving average price is $61.05. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The stock has a market cap of $17.34 billion, a price-to-earnings ratio of 16.63 and a beta of 1.56. Alcoa has a twelve month low of $27.72 and a twelve month high of $84.38.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.20). The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.15 EPS. As a group, equities analysts predict 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 was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were given 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 0.6%. Alcoa’s dividend payout ratio is presently 10.13%.

Wall Street Analyst Weigh In

Several brokerages have commented on AA. Morgan Stanley upgraded shares of Alcoa from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $64.00 to $80.00 in a research note on Thursday, April 9th. Citigroup lifted their price objective on shares of Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, March 16th. UBS Group raised shares of Alcoa from a “neutral” rating to a “buy” rating and lifted their target price for the company from $75.00 to $80.00 in a report on Friday, May 22nd. Weiss Ratings lowered shares of Alcoa from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 1st. Finally, Wall Street Zen lowered shares of Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alcoa currently has an average rating of “Hold” and an average target price 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.