14,432 Shares in Alcoa (NYSE:AA) Purchased by Persistent Asset Partners Ltd

Key Points

• Persistent Asset Partners Ltd has acquired a new stake in Alcoa, purchasing 14,432 shares valued at approximately $440,000.
• Alcoa recently reported an EPS of $0.39, surpassing analysts' expectations of $0.29, with quarterly revenues of $3.02 billion.
• The company announced a quarterly dividend of $0.10, set to be paid on August 28th, representing an annualized yield of 1.4%.

Persistent Asset Partners Ltd purchased a new stake in Alcoa (NYSE:AA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,432 shares of the industrial products company's stock, valued at approximately $440,000.

Several other large investors have also recently added to or reduced their stakes in AA. Bessemer Group Inc. grew its stake in shares of Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 296 shares during the period. Versant Capital Management Inc grew its stake in shares of Alcoa by 134.7% in the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 520 shares during the period. Point72 Hong Kong Ltd bought a new stake in Alcoa during the 4th quarter worth approximately $36,000. Montag A & Associates Inc. bought a new stake in Alcoa during the 1st quarter worth approximately $40,000. Finally, Continuum Advisory LLC grew its position in Alcoa by 30.7% during the 4th quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company's stock worth $56,000 after acquiring an additional 345 shares during the last quarter.

Analyst Ratings Changes

AA has been the topic of a number of recent research reports. B. Riley decreased their price objective on Alcoa from $38.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. UBS Group reissued a "neutral" rating and issued a $31.00 price target on shares of Alcoa in a research note on Thursday, May 15th. Wall Street Zen downgraded Alcoa from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Morgan Stanley dropped their price objective on Alcoa from $40.00 to $38.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Finally, Bank of America increased their target price on Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $41.23.

Alcoa Trading Down 2.8%

Shares of AA stock opened at $29.34 on Tuesday. The company's fifty day simple moving average is $29.60 and its two-hundred day simple moving average is $29.99. 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 has a 1 year low of $21.53 and a 1 year high of $47.77. The stock has a market capitalization of $7.60 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 0.17 and a beta of 2.24.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the previous year, the business earned $0.16 EPS. The business's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, analysts anticipate that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Tuesday, August 12th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 12th. Alcoa's dividend payout ratio is presently 10.44%.

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.

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