Amundi Has $10.24 Million Stock Position in Alcoa $AA

Key Points

• Amundi increased its stake in Alcoa by 14.3%, acquiring an additional 41,901 shares to bring its total to 335,622 shares, valued at approximately $10.24 million.
• Alcoa's stock price peaked at $31.29 recently and has a market capitalization of $8.10 billion, while the stock analysts give a consensus price target of $41.75.
• The company recently announced a quarterly dividend of $0.10 per share, representing an annualized yield of 1.3% and a dividend payout ratio of 10.44%.

Amundi raised its stake in shares of Alcoa (NYSE:AA - Free Report) by 14.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 335,622 shares of the industrial products company's stock after purchasing an additional 41,901 shares during the quarter. Amundi owned 0.13% of Alcoa worth $10,236,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in Alcoa by 134.7% during the first quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 520 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Alcoa in the 4th quarter worth approximately $36,000. Montag A & Associates Inc. acquired a new position in shares of Alcoa in the 1st quarter worth approximately $40,000. Continuum Advisory LLC boosted its holdings in shares of Alcoa by 30.7% in the 4th quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company's stock worth $56,000 after acquiring an additional 345 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Alcoa in the 1st quarter worth approximately $57,000.

Alcoa Trading Up 1.1%

NYSE:AA traded up $0.35 during trading hours on Monday, hitting $33.59. 5,654,948 shares of the stock were exchanged, compared to its average volume of 5,284,375. The company's 50 day moving average is $30.84 and its two-hundred day moving average is $29.28. Alcoa has a twelve month low of $21.53 and a twelve month high of $47.77. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $8.70 billion, a P/E ratio of 8.77, a price-to-earnings-growth ratio of 0.19 and a beta of 2.26.

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

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. Alcoa's dividend payout ratio is 10.44%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AA. Wall Street Zen downgraded Alcoa from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Morgan Stanley reduced their target price on Alcoa from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Bank of America boosted their target price on Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a report on Thursday, July 17th. B. Riley boosted their target price on Alcoa from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. Finally, JPMorgan Chase & Co. reduced their target price on Alcoa from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $41.75.

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.