Advisors Preferred LLC Invests $1.18 Million in Alcoa $AA

Key Points

• Advisors Preferred LLC acquired 24,256 Alcoa shares during the second quarter, valued at approximately $1.18 million. Several other institutional investors also modestly increased their positions.
• Alcoa reported quarterly earnings of $2.12 per share, below the $2.25 analyst consensus, while revenue of $3.97 billion was slightly under estimates. Analysts expect full-year earnings of $6.55 per share.
• The company declared a quarterly dividend of $0.10 per share, or $0.40 annualized, representing a 0.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $61.09.

Advisors Preferred LLC bought a new position in shares of Alcoa (NYSE:AA - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 24,256 shares of the industrial products company's stock, valued at approximately $1,181,000.

A number of other large investors have also recently bought and sold shares of AA. Checchi Capital Advisers LLC raised its position in Alcoa by 3.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company's stock worth $341,000 after buying an additional 170 shares during the last quarter. Essential Partners LLC raised its holdings in shares of Alcoa by 0.9% during the first quarter. Essential Partners LLC now owns 20,525 shares of the industrial products company's stock worth $1,361,000 after purchasing an additional 193 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in Alcoa by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company's stock valued at $3,079,000 after purchasing an additional 229 shares during the period. Crossmark Global Holdings Inc. lifted its position in Alcoa by 1.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company's stock valued at $722,000 after purchasing an additional 241 shares during the period. Finally, Himension Capital Singapore PTE. LTD. boosted its holdings in Alcoa by 1.3% in the first quarter. Himension Capital Singapore PTE. LTD. now owns 18,626 shares of the industrial products company's stock valued at $1,235,000 after purchasing an additional 246 shares during the last quarter.

Alcoa Price Performance

NYSE:AA opened at $50.65 on Friday. Alcoa has a 52 week low of $28.92 and a 52 week high of $84.38. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $13.37 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 0.58 and a beta of 1.63. The stock's 50-day moving average price is $50.48 and its 200-day moving average price is $60.31.

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 for the quarter, missing analysts' consensus estimates of $2.25 by ($0.13). The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same period in the previous year, the company posted $0.39 EPS. As a group, equities analysts expect that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Alcoa from $55.00 to $52.00 and set a "neutral" rating on the stock in a research report on Friday, July 17th. B. Riley Financial lowered their target price on Alcoa from $92.00 to $80.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. UBS Group dropped their target price on Alcoa from $80.00 to $68.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Bank of America reduced their price target on Alcoa from $57.00 to $51.00 and set an "underperform" rating for the company in a research report on Thursday, July 9th. Finally, BMO Capital Markets decreased their price target on Alcoa from $60.00 to $55.00 and set a "market perform" rating for the company in a report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Alcoa presently has an average rating of "Hold" and a consensus 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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