Dimensional Fund Advisors LP Acquires 1,721,222 Shares of Alcoa $AA

Key Points

• Dimensional Fund Advisors LP has significantly increased its stake in Alcoa by 33.9%, acquiring an additional 1,721,222 shares, bringing its total to 6,803,086 shares worth approximately $207.5 million.
• Analysts have mixed opinions on Alcoa, with recent target prices ranging from $27.00 to $41.23 and a consensus rating of "Hold".
• Alcoa declared a quarterly dividend of $0.10 per share, yielding 1.3%, with the dividend set to be paid on August 28th to shareholders of record on August 12th.

Dimensional Fund Advisors LP increased its stake in shares of Alcoa (NYSE:AA - Free Report) by 33.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,803,086 shares of the industrial products company's stock after purchasing an additional 1,721,222 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.63% of Alcoa worth $207,490,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Alcoa by 61.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,914 shares of the industrial products company's stock worth $516,000 after purchasing an additional 6,447 shares during the period. GAMMA Investing LLC lifted its stake in Alcoa by 58.8% in the first quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company's stock valued at $70,000 after acquiring an additional 851 shares during the last quarter. Drummond Knight Asset Management Pty Ltd acquired a new stake in Alcoa in the fourth quarter valued at approximately $19,646,000. SG Americas Securities LLC lifted its stake in Alcoa by 630.4% in the first quarter. SG Americas Securities LLC now owns 28,955 shares of the industrial products company's stock valued at $883,000 after acquiring an additional 24,991 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Alcoa by 10.6% in the first quarter. Janney Montgomery Scott LLC now owns 19,087 shares of the industrial products company's stock valued at $582,000 after acquiring an additional 1,831 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AA shares. Citigroup upgraded shares of Alcoa to a "buy" rating and set a $42.00 target price for the company in a research note on Tuesday, July 8th. B. Riley reduced their target price on shares of Alcoa from $38.00 to $37.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. UBS Group reiterated a "neutral" rating and issued a $31.00 target price on shares of Alcoa in a research note on Thursday, May 15th. Morgan Stanley reduced their target price on shares of Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Finally, Wall Street Zen cut shares of Alcoa from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $41.23.

Alcoa Stock Performance

Shares of Alcoa stock traded up $2.18 on Friday, reaching $31.69. The stock had a trading volume of 8,532,476 shares, compared to its average volume of 5,444,953. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The business's 50-day moving average price is $30.03 and its two-hundred day moving average price is $29.70. The stock has a market cap of $8.20 billion, a P/E ratio of 8.27, a price-to-earnings-growth ratio of 0.18 and a beta of 2.24. 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 (NYSE:AA - Get Free Report) last announced its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Alcoa's revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts forecast that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Tuesday, August 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. Alcoa's payout ratio is 10.44%.

Alcoa Profile

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.