Alcoa $AA Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in Alcoa (NYSE:AA - Free Report) by 44.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 306,484 shares of the industrial products company's stock after purchasing an additional 94,611 shares during the period. Hsbc Holdings PLC owned approximately 0.12% of Alcoa worth $20,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC lifted its position in Alcoa by 1.9% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company's stock worth $568,000 after buying an additional 204 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in Alcoa by 0.4% in the 4th 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 buying an additional 229 shares in the last quarter. CoreCap Advisors LLC grew its holdings in Alcoa by 74.1% in the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company's stock valued at $30,000 after buying an additional 237 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Alcoa by 1.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company's stock worth $722,000 after acquiring an additional 241 shares during the last quarter. Finally, Sage Rhino Capital LLC increased its stake in shares of Alcoa by 7.0% in the 1st quarter. Sage Rhino Capital LLC now owns 4,276 shares of the industrial products company's stock worth $284,000 after acquiring an additional 279 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AA. Morgan Stanley reissued an "equal weight" rating and set a $53.00 price target (down from $79.00) on shares of Alcoa in a research report on Wednesday, July 8th. Zacks Research cut shares of Alcoa from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 8th. Wells Fargo & Company reduced their target price on shares of Alcoa from $72.00 to $71.00 and set an "overweight" rating on the stock in a research note on Friday, July 17th. Weiss Ratings raised shares of Alcoa from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, June 17th. Finally, Bank of America decreased their target price on shares of Alcoa from $57.00 to $51.00 and set an "underperform" rating on the stock in a report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $62.73.

Alcoa Price Performance

NYSE:AA opened at $44.23 on Wednesday. Alcoa has a 52 week low of $28.11 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 company has a market capitalization of $11.67 billion, a P/E ratio of 9.10, a P/E/G ratio of 0.48 and a beta of 1.63. The stock's fifty day moving average is $60.80 and its two-hundred day moving average is $62.38.

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 for the quarter, missing analysts' consensus estimates of $2.25 by ($0.13). The business had revenue of $3.97 billion for the quarter, compared to analysts' expectations of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same quarter in the prior year, the company posted $0.39 earnings per share. Equities analysts expect that Alcoa will post 6.72 EPS for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa's dividend payout ratio (DPR) is 8.23%.

About Alcoa

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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