Alcoa $AA Stock Position Raised by Regal Partners Ltd

Key Points

• Regal Partners Ltd increased its position in Alcoa by 7.0% in Q3 to 451,940 shares (about 0.17% of the company), worth roughly $14.86 million and ranking AA as its 21st-largest holding.
• Alcoa beat estimates with quarterly EPS of $1.26 (vs. $0.95 expected) and revenue of $6.75 billion (vs. $3.28 billion expected), reporting a 9.12% net margin and 16.19% return on equity.
• The firm declared a quarterly dividend of $0.10 (annualized $0.40, ~0.7% yield) payable March 26, with record/ex-dividend dates on March 10.

Regal Partners Ltd grew its position in shares of Alcoa (NYSE:AA - Free Report) by 7.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 451,940 shares of the industrial products company's stock after buying an additional 29,612 shares during the quarter. Alcoa makes up about 1.0% of Regal Partners Ltd's investment portfolio, making the stock its 21st largest holding. Regal Partners Ltd owned approximately 0.17% of Alcoa worth $14,864,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Root Financial Partners LLC acquired a new position in Alcoa in the third quarter worth approximately $29,000. Horrell Capital Management Inc. acquired a new stake in Alcoa in the second quarter valued at approximately $30,000. Orion Capital Management LLC bought a new stake in Alcoa in the third quarter worth approximately $33,000. Westfuller Advisors LLC bought a new stake in Alcoa in the third quarter worth approximately $35,000. Finally, Huntington National Bank increased its stake in shares of Alcoa by 167.9% during the 3rd quarter. Huntington National Bank now owns 1,259 shares of the industrial products company's stock worth $41,000 after purchasing an additional 789 shares during the last quarter.

Alcoa Trading Down 1.4%

NYSE:AA opened at $59.53 on Friday. The company's 50 day moving average is $60.59 and its 200-day moving average is $45.74. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.40. Alcoa has a 12 month low of $21.53 and a 12 month high of $68.40. The firm has a market cap of $15.71 billion, a price-to-earnings ratio of 13.47 and a beta of 1.85.

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

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 10th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 10th. Alcoa's dividend payout ratio (DPR) is currently 9.05%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AA. Zacks Research downgraded shares of Alcoa from a "strong-buy" rating to a "hold" rating in a report on Friday, February 13th. UBS Group upped their price objective on shares of Alcoa from $42.00 to $48.00 and gave the stock a "neutral" rating in a report on Friday, December 12th. Wall Street Zen raised shares of Alcoa from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Morgan Stanley restated an "overweight" rating and set a $52.00 target price on shares of Alcoa in a report on Monday, December 15th. Finally, Wells Fargo & Company reduced their price target on Alcoa from $71.00 to $64.00 and set an "equal weight" rating for the company in a research report on Friday, January 23rd. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $48.25.

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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