690,000 Shares in Alcoa $AA Acquired by BW Gestao de Investimentos Ltda.

Key Points

• BW Gestao de Investimentos Ltda. acquired 690,000 shares of Alcoa (NYSE:AA) in Q3, a purchase valued at about $22.69 million that represents roughly 1.0% of the firm's portfolio and leaves it with a 0.27% stake (its 18th largest position).
• Alcoa reported quarterly EPS of $1.26 vs. consensus $0.95 and revenue of $6.75 billion (down 1.1% YoY), and announced a quarterly dividend of $0.10 per share (annualized $0.40, yield 0.7%, ex-dividend Mar 10).
• Analysts are mixed: the stock carries an average consensus rating of "Hold" (5 Buy, 6 Hold, 2 Sell) with an average target price of $48.25 and individual targets ranging roughly $42–$52.

BW Gestao de Investimentos Ltda. purchased a new position in Alcoa (NYSE:AA - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 690,000 shares of the industrial products company's stock, valued at approximately $22,694,000. Alcoa makes up approximately 1.0% of BW Gestao de Investimentos Ltda.'s portfolio, making the stock its 18th largest position. BW Gestao de Investimentos Ltda. owned 0.27% of Alcoa as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in shares of Alcoa during the third quarter worth approximately $29,000. Horrell Capital Management Inc. acquired a new position in Alcoa during the second quarter worth $30,000. Orion Capital Management LLC acquired a new position in Alcoa during the third quarter worth $33,000. Westfuller Advisors LLC acquired a new position in Alcoa during the third quarter worth $35,000. Finally, Huntington National Bank lifted its stake in shares of Alcoa by 167.9% in the third quarter. Huntington National Bank now owns 1,259 shares of the industrial products company's stock valued at $41,000 after buying an additional 789 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. UBS Group upped their target price on shares of Alcoa from $42.00 to $48.00 and gave the stock a "neutral" rating in a report on Friday, December 12th. Weiss Ratings reissued a "hold (c)" rating on shares of Alcoa in a report on Monday, December 29th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $50.00 price objective (up from $45.00) on shares of Alcoa in a research note on Thursday, January 8th. Morgan Stanley reaffirmed an "overweight" rating and set a $52.00 target price on shares of Alcoa in a research report on Monday, December 15th. Finally, Zacks Research lowered Alcoa from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 13th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $48.25.

Alcoa Price Performance

Shares of NYSE AA opened at $61.15 on Tuesday. The company has a market capitalization of $16.13 billion, a PE ratio of 13.84 and a beta of 1.85. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.40. The stock's 50 day moving average price is $60.74 and its 200-day moving average price is $46.08. Alcoa has a twelve month low of $21.53 and a twelve month high of $68.40.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.31. Alcoa had a return on equity of 16.19% and a net margin of 9.12%.The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period last year, the business posted $1.04 earnings per share. Alcoa's revenue was down 1.1% on a year-over-year basis. On average, equities analysts anticipate that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, March 10th. Alcoa's payout ratio is presently 9.05%.

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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