Algert Global LLC Increases Holdings in Alcoa $AA

Key Points

• Algert Global LLC increased its stake in Alcoa by 68.8%, now owning 263,410 shares valued at approximately $8.03 million.
• Several institutional investors, including Canada Pension Plan Investment Board, also significantly raised their positions in Alcoa during the fourth quarter, reflecting growing confidence in the company's prospects.
• Analysts have mixed ratings on Alcoa, with several buy and hold ratings as well as target price adjustments, suggesting a current average price target of $41.23.

Algert Global LLC increased its stake in shares of Alcoa (NYSE:AA - Free Report) by 68.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,410 shares of the industrial products company's stock after acquiring an additional 107,353 shares during the quarter. Algert Global LLC owned approximately 0.10% of Alcoa worth $8,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Corient IA LLC bought a new position in Alcoa during the 1st quarter worth approximately $261,000. Tejara Capital Ltd bought a new position in Alcoa during the 1st quarter worth approximately $1,693,000. Dimensional Fund Advisors LP grew its position in 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 during the last quarter. Kovitz Investment Group Partners LLC grew its position in Alcoa by 5.3% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 81,772 shares of the industrial products company's stock worth $2,494,000 after acquiring an additional 4,134 shares during the last quarter. Finally, Regal Partners Ltd grew its position in Alcoa by 56.2% during the 1st quarter. Regal Partners Ltd now owns 322,856 shares of the industrial products company's stock worth $9,847,000 after acquiring an additional 116,146 shares during the last quarter.

Alcoa Trading Up 7.4%

Shares of AA stock traded up $2.18 during trading hours on Friday, reaching $31.69. The company's stock had a trading volume of 8,532,476 shares, compared to its average volume of 5,363,792. The stock has a market capitalization of $8.20 billion, a P/E ratio of 8.27, a P/E/G ratio of 0.17 and a beta of 2.24. Alcoa has a one year low of $21.53 and a one year high of $47.77. The firm's fifty day simple moving average is $30.03 and its 200 day simple moving average is $29.79. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41.

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

Alcoa Announces Dividend

The company also recently declared 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 is Tuesday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. Alcoa's payout ratio is currently 10.44%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. UBS Group restated a "neutral" rating and set a $31.00 price target on shares of Alcoa in a research report on Thursday, May 15th. Citigroup upgraded Alcoa to a "buy" rating and set a $42.00 price target on the stock in a research report on Tuesday, July 8th. B. Riley cut their price objective on Alcoa from $38.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Morgan Stanley cut their price objective on Alcoa from $40.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Finally, Bank of America lifted their price objective on Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a research report on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Alcoa has an average rating of "Hold" and an average price target of $41.23.

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.