111 Capital Buys Shares of 14,518 Alcoa $AA

Key Points

• 111 Capital has acquired a new stake in Alcoa by purchasing 14,518 shares valued at approximately $430,000 in the second quarter, reflecting increased institutional interest in the company.
• Alcoa's recent earnings report exceeded expectations, with an EPS of $0.39 and revenues of $3.02 billion, signaling a 3.9% year-over-year revenue increase.
• Analyst ratings for Alcoa are mixed, with six analysts rating it as a "Buy", while the consensus price target stands at $42.27.

111 Capital bought a new stake in shares of Alcoa (NYSE:AA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 14,518 shares of the industrial products company's stock, valued at approximately $430,000.

Several other hedge funds have also recently added to or reduced their stakes in AA. Montag A & Associates Inc. bought a new stake in Alcoa during the 1st quarter valued at $40,000. Quarry LP bought a new stake in shares of Alcoa in the 1st quarter worth $57,000. GAMMA Investing LLC raised its stake in shares of Alcoa by 58.8% in the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company's stock worth $70,000 after buying an additional 851 shares in the last quarter. Banque Transatlantique SA bought a new stake in shares of Alcoa in the 1st quarter worth $74,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Alcoa in the 2nd quarter worth $82,000. Institutional investors own 82.39% of the company's stock.

Analyst Ratings Changes

AA has been the topic of a number of research reports. Wall Street Zen downgraded Alcoa from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Citigroup raised Alcoa to a "buy" rating and set a $42.00 price objective on the stock in a research note on Tuesday, July 8th. JPMorgan Chase & Co. dropped their price objective on Alcoa from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. B. Riley boosted their price objective on Alcoa from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Finally, Morgan Stanley cut their target price on Alcoa from $40.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $42.27.

Alcoa Stock Performance

Shares of AA opened at $34.50 on Monday. Alcoa has a one year low of $21.53 and a one year high of $47.77. The company has a 50-day moving average of $31.49 and a two-hundred day moving average of $29.28. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 0.21 and a beta of 2.20. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.65 and a quick ratio of 0.97.

Alcoa (NYSE:AA - Get Free Report) last announced its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. The company had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.96 billion. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The business's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the company posted $0.16 earnings per share. On average, equities research analysts expect that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Tuesday, August 12th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, August 12th. Alcoa's payout ratio is presently 10.44%.

Alcoa Profile

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.

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