Ieq Capital LLC Raises Holdings in Alcoa $AA

Key Points

• Ieq Capital LLC significantly increased its holdings in Alcoa by 258.9%, owning 34,988 shares valued at approximately $1.07 million as of the latest filing.
• Alcoa reported a quarterly EPS of $0.39, exceeding expectations of $0.29, and had a revenue of $3.02 billion, up 3.9% from the previous year.
• Analysts have mixed ratings on Alcoa's stock, with a consensus rating of "Hold" and an average target price of $41.23, reflecting varied outlooks among financial institutions.

Ieq Capital LLC increased its holdings in Alcoa (NYSE:AA - Free Report) by 258.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,988 shares of the industrial products company's stock after purchasing an additional 25,239 shares during the period. Ieq Capital LLC's holdings in Alcoa were worth $1,067,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in shares of Alcoa by 33.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,803,086 shares of the industrial products company's stock worth $207,490,000 after acquiring an additional 1,721,222 shares in the last quarter. Sourcerock Group LLC raised its holdings in shares of Alcoa by 319.1% during the 4th quarter. Sourcerock Group LLC now owns 1,978,009 shares of the industrial products company's stock worth $74,729,000 after acquiring an additional 1,506,009 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Alcoa by 46.8% during the 4th quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company's stock worth $96,324,000 after acquiring an additional 813,214 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Alcoa during the 1st quarter worth approximately $23,339,000. Finally, Deutsche Bank AG raised its holdings in shares of Alcoa by 481.2% during the 1st quarter. Deutsche Bank AG now owns 907,117 shares of the industrial products company's stock worth $27,667,000 after acquiring an additional 751,053 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AA. Morgan Stanley decreased their price objective on Alcoa from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Wall Street Zen cut Alcoa from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. B. Riley cut their target price on Alcoa from $38.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Citigroup raised Alcoa to a "buy" rating and set a $42.00 target price on the stock in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. cut their target price on Alcoa from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has 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 $41.67.

Alcoa Trading Up 1.7%

Alcoa stock traded up $0.53 during mid-day trading on Friday, hitting $31.82. The company's stock had a trading volume of 5,685,262 shares, compared to its average volume of 5,052,331. The company has a 50 day moving average of $30.64 and a 200-day moving average of $29.41. The stock has a market cap of $8.24 billion, a PE ratio of 8.31, a P/E/G ratio of 0.18 and a beta of 2.26. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.65. Alcoa has a one year low of $21.53 and a one year high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.96 billion. Alcoa had a return on equity of 19.18% and a net margin of 7.86%.Alcoa's quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 EPS. On average, research analysts anticipate that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 12th. Alcoa's dividend payout ratio is 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.