Ausbil Investment Management Ltd Buys 13,000 Shares of Alcoa $AA

Key Points

• Ausbil Investment Management Ltd increased its holding in Alcoa by 650.0% in the 2nd quarter, purchasing an additional 13,000 shares, bringing its total to 15,000 shares valued at $443,000.
• Alcoa reported earnings of $0.39 per share for the latest quarter, surpassing analysts' estimates of $0.29 and achieving a 3.9% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.10 per share, translating to an annual yield of 1.2%.

Ausbil Investment Management Ltd lifted its holdings in shares of Alcoa (NYSE:AA - Free Report) by 650.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,000 shares of the industrial products company's stock after purchasing an additional 13,000 shares during the period. Ausbil Investment Management Ltd's holdings in Alcoa were worth $443,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AA. Versant Capital Management Inc boosted its position in shares of Alcoa by 134.7% during the 1st 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. Montag A & Associates Inc. bought a new stake in shares of Alcoa during the 1st quarter valued at about $40,000. Quarry LP bought a new stake in shares of Alcoa during the 1st quarter valued at about $57,000. GAMMA Investing LLC boosted its position in shares of Alcoa by 58.8% during the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company's stock valued at $70,000 after purchasing an additional 851 shares in the last quarter. Finally, Banque Transatlantique SA bought a new stake in shares of Alcoa during the 1st quarter valued at about $74,000.

Alcoa Stock Performance

Shares of AA opened at $32.75 on Friday. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 0.20 and a beta of 2.26. The stock has a 50 day moving average of $31.25 and a 200 day moving average of $29.32. Alcoa has a 12 month low of $21.53 and a 12 month high of $47.77.

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

Alcoa Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Citigroup upgraded Alcoa to a "buy" rating and set a $42.00 target price on the stock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. decreased their price objective on Alcoa from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Morgan Stanley decreased their price objective on Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Wall Street Zen downgraded Alcoa from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, Bank of America boosted their price objective on Alcoa from $26.00 to $27.00 and gave the company an "underperform" rating in a report on Thursday, July 17th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Alcoa presently has an average rating of "Hold" and an average price target of $42.27.

Alcoa Profile

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.

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