AXQ Capital LP Invests $1.54 Million in Alcoa $AA

AXQ Capital LP purchased a new stake in shares of Alcoa (NYSE:AA - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 29,532 shares of the industrial products company's stock, valued at approximately $1,540,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Basepoint Wealth LLC purchased a new stake in shares of Alcoa in the fourth quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Alcoa during the 2nd quarter worth about $25,000. Advisory Services Network LLC acquired a new position in shares of Alcoa during the third quarter valued at about $27,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Alcoa by 5,281.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company's stock worth $31,000 after acquiring an additional 581 shares during the period. Finally, Western Wealth Management LLC bought a new position in shares of Alcoa during the 1st quarter worth about $35,000.

Alcoa Stock Performance

NYSE:AA opened at $49.98 on Friday. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 0.58 and a beta of 1.63. The business has a 50 day moving average of $48.64 and a 200 day moving average of $59.58. Alcoa has a 1-year low of $30.71 and a 1-year high of $84.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, sell-side analysts predict that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. Alcoa's payout ratio is presently 8.23%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an "equal weight" rating and set a $53.00 price objective (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. Wells Fargo & Company reduced their target price on shares of Alcoa from $72.00 to $71.00 and set an "overweight" rating for the company in a report on Friday, July 17th. B. Riley Financial reduced their price target on Alcoa from $92.00 to $80.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Zacks Research cut Alcoa from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 8th. Finally, Bank of America decreased their price objective on Alcoa from $57.00 to $51.00 and set an "underperform" rating for the company in a report on Thursday, July 9th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Alcoa has a consensus rating of "Hold" and a consensus price target of $61.09.

Insider Activity

In other Alcoa news, EVP Renato Bacchi sold 700 shares of Alcoa stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $51.02, for a total transaction of $35,714.00. Following the sale, the executive vice president directly owned 74,930 shares of the company's stock, valued at approximately $3,822,928.60. The trade was a 0.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tammi A. Jones sold 15,628 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $50.60, for a total value of $790,776.80. Following the transaction, the executive vice president owned 39,819 shares in the company, valued at $2,014,841.40. This trade represents a 28.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Alcoa Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company's operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa's product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.

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