23,074 Shares in Alcoa $AA Purchased by Focus Partners Advisor Solutions LLC

Key Points

• Focus Partners Advisor Solutions LLC acquired 23,074 Alcoa shares during the second quarter, valued at approximately $1.2 million. Several other institutional investors also initiated or increased positions.
• Alcoa reported quarterly EPS of $2.12, missing analysts’ $2.25 consensus estimate, while revenue of $3.97 billion was slightly below expectations. The stock opened at $49.95, well below its 52-week high of $84.38.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $61.09. Alcoa also declared a quarterly dividend of $0.10 per share, equal to a 0.8% annualized yield.

Focus Partners Advisor Solutions LLC acquired a new position in Alcoa (NYSE:AA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,074 shares of the industrial products company's stock, valued at approximately $1,203,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Basepoint Wealth LLC purchased a new position in shares of Alcoa during the fourth quarter valued at approximately $25,000. Western Wealth Management LLC purchased a new stake in shares of Alcoa in the 1st quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Alcoa by 5,281.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company's stock worth $31,000 after buying an additional 581 shares during the last quarter. Quarry LP increased its position in Alcoa by 96.0% during the 4th quarter. Quarry LP now owns 694 shares of the industrial products company's stock valued at $37,000 after buying an additional 340 shares in the last quarter. Finally, Clearstead Trust LLC increased its position in Alcoa by 431.7% during the 4th quarter. Clearstead Trust LLC now owns 755 shares of the industrial products company's stock valued at $40,000 after buying an additional 613 shares in the last quarter.

Alcoa Stock Down 0.1%

AA stock opened at $49.95 on Monday. The company has a market cap of $13.18 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 0.57 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. The business's 50-day moving average is $52.01 and its two-hundred day moving average is $60.55. Alcoa has a fifty-two week low of $28.92 and a fifty-two week high of $84.38.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.13). Alcoa had a net margin of 9.48% and a return on equity of 18.90%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. As a group, analysts forecast that Alcoa will post 6.55 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, August 11th. Alcoa's payout ratio is 8.23%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Royal Bank Of Canada set a $70.00 price objective on Alcoa in a research note on Wednesday, July 1st. Zacks Research cut Alcoa from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. B. Riley Financial reduced their price target on Alcoa from $92.00 to $80.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Argus lowered their price target on Alcoa from $73.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Finally, BMO Capital Markets dropped their price target on shares of Alcoa from $60.00 to $55.00 and set a "market perform" rating on the stock in a research note on Friday, July 17th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $61.09.

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.

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