1,496,149 Shares in Alcoa $AA Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. acquired 1,496,149 shares of Alcoa, valued at approximately $44.15 million, representing about 0.58% ownership of the company.
• Alcoa reported a quarterly earnings per share (EPS) of $0.39, exceeding analysts' expectations of $0.29, with a revenue of $3.02 billion during the quarter.
• The firm declared a quarterly dividend of $0.10 per share, yielding 1.2% annually, with a current dividend payout ratio of 10.44%.

Assenagon Asset Management S.A. acquired a new position in shares of Alcoa (NYSE:AA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,496,149 shares of the industrial products company's stock, valued at approximately $44,151,000. Assenagon Asset Management S.A. owned approximately 0.58% of Alcoa as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc increased its position in shares of Alcoa by 134.7% during the first quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock worth $28,000 after acquiring an additional 520 shares in the last quarter. Montag A & Associates Inc. bought a new stake in shares of Alcoa during the first quarter worth $40,000. Continuum Advisory LLC increased its position in shares of Alcoa by 30.7% during the fourth 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 in the last quarter. Quarry LP bought a new stake in shares of Alcoa during the first quarter worth $57,000. Finally, GAMMA Investing LLC boosted its holdings in Alcoa by 58.8% during the first quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company's stock worth $70,000 after purchasing an additional 851 shares during the last quarter.

Wall Street Analyst Weigh In

AA has been the subject of several recent research reports. B. Riley increased their target price on shares of Alcoa from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. UBS Group increased their target price on shares of Alcoa from $31.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday. JPMorgan Chase & Co. reduced their target price on shares of Alcoa from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Citigroup upgraded shares of Alcoa to a "buy" rating and set a $42.00 target price for the company in a report on Tuesday, July 8th. Finally, Morgan Stanley cut their price target on shares of Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $42.09.

Alcoa Stock Performance

Shares of NYSE AA traded up $0.14 during mid-day trading on Monday, reaching $32.60. 4,757,765 shares of the company were exchanged, compared to its average volume of 5,919,768. The company's 50-day simple moving average is $30.99 and its 200-day simple moving average is $29.31. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $8.44 billion, a P/E ratio of 8.51, a P/E/G ratio of 0.18 and a beta of 2.26. Alcoa has a twelve month low of $21.53 and a twelve month high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last posted its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. Alcoa's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 EPS. As a group, research analysts predict that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, August 12th. Alcoa's dividend payout ratio (DPR) is currently 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.