Alps Advisors Inc. Invests $315,000 in Alcoa (NYSE:AA)

Alps Advisors Inc. acquired a new position in Alcoa (NYSE:AA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,330 shares of the industrial products company's stock, valued at approximately $315,000.

A number of other institutional investors and hedge funds have also bought and sold shares of AA. Vanguard Group Inc. grew its stake in shares of Alcoa by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company's stock worth $981,491,000 after purchasing an additional 165,420 shares during the period. Norges Bank purchased a new position in Alcoa during the 4th quarter worth $259,273,000. Geode Capital Management LLC increased its position in shares of Alcoa by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company's stock valued at $159,966,000 after buying an additional 39,022 shares in the last quarter. Northern Trust Corp boosted its stake in Alcoa by 46.8% in the 4th quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company's stock worth $96,324,000 after buying an additional 813,214 shares during the last quarter. Finally, Sourcerock Group LLC increased its holdings in 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 purchasing an additional 1,506,009 shares during the last quarter.

Alcoa Price Performance

Shares of NYSE:AA traded up $0.62 during midday trading on Monday, hitting $30.95. The stock had a trading volume of 7,493,925 shares, compared to its average volume of 5,721,853. The company has a market capitalization of $8.01 billion, a P/E ratio of 8.08, a price-to-earnings-growth ratio of 0.18 and a beta of 2.25. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The company's 50-day moving average price is $28.94 and its 200-day moving average price is $30.78.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.96 billion. Alcoa had a return on equity of 19.27% and a net margin of 7.86%. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. As a group, equities research analysts predict that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Tuesday, May 20th. Alcoa's dividend payout ratio is currently 10.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AA. JPMorgan Chase & Co. cut their price target on Alcoa from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday. Citigroup upgraded shares of Alcoa to a "buy" rating and set a $42.00 price objective on the stock in a research report on Tuesday, July 8th. B. Riley dropped their price objective 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. Bank of America boosted their price target on shares of Alcoa from $26.00 to $27.00 and gave the company an "underperform" rating in a report on Thursday. Finally, Barclays boosted their target price on shares of Alcoa to $31.00 and gave the company a "hold" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Alcoa has a consensus rating of "Hold" and a consensus target price 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.