ARGA Investment Management LP lessened its holdings in Alcoa (NYSE:AA - Free Report) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,935,362 shares of the industrial products company's stock after selling 62,949 shares during the quarter. Alcoa makes up approximately 3.0% of ARGA Investment Management LP's investment portfolio, making the stock its 14th largest position. ARGA Investment Management LP owned 1.13% of Alcoa worth $89,529,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its holdings in Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock valued at $26,000 after buying an additional 296 shares during the last quarter. Versant Capital Management Inc raised its holdings in Alcoa by 134.7% in the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock valued at $28,000 after buying an additional 520 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Alcoa during the 4th quarter worth approximately $29,000. Point72 Hong Kong Ltd bought a new position in Alcoa during the 4th quarter worth approximately $36,000. Finally, Smartleaf Asset Management LLC raised its holdings in Alcoa by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock worth $39,000 after purchasing an additional 393 shares during the last quarter. Institutional investors own 82.39% of the company's stock.
Analyst Ratings Changes
AA has been the subject of several analyst reports. HC Wainwright raised their price target on shares of Alcoa to $90.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Bank of America restated an "underperform" rating and set a $26.00 price target (down previously from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. Barclays raised their price target on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a report on Friday, May 16th. JPMorgan Chase & Co. raised their price target on shares of Alcoa from $25.00 to $28.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Finally, B. Riley reaffirmed a "buy" rating and set a $38.00 price objective (down previously from $43.00) on shares of Alcoa in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Alcoa has a consensus rating of "Hold" and a consensus target price of $42.33.
Get Our Latest Stock Analysis on AA
Alcoa Stock Down 4.2%
Shares of NYSE AA opened at $29.84 on Tuesday. The stock has a market capitalization of $7.73 billion, a P/E ratio of 8.99, a P/E/G ratio of 0.19 and a beta of 2.25. The company has a 50-day moving average price of $28.04 and a 200-day moving average price of $31.28. Alcoa has a 1 year low of $21.53 and a 1 year high of $47.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.71 and a quick ratio of 1.00.
Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.42. The firm had revenue of $3.37 billion during the quarter, compared to analysts' expectations of $3.58 billion. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. On average, equities research analysts forecast that Alcoa will post 4.43 EPS for the current fiscal year.
Alcoa Dividend Announcement
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Tuesday, May 20th. Alcoa's payout ratio is currently 12.05%.
About Alcoa
(
Free Report)
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.
Further Reading
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