Baader Bank Aktiengesellschaft Invests $2.36 Million in Alcoa $AA

Key Points

• Baader Bank Aktiengesellschaft opened a new position in Alcoa in the first quarter, buying 36,036 shares worth about $2.36 million.
• Other large institutional investors also increased their Alcoa holdings, including Dimensional Fund Advisors, State Street, Geode Capital Management, and Bank of New York Mellon, signaling continued hedge fund interest in the stock.
• Analysts are mixed on Alcoa: the consensus rating is Hold, with an average price target of $62.73, while the company recently reported quarterly earnings of $2.12 per share, missing estimates of $2.25.

Baader Bank Aktiengesellschaft acquired a new stake in Alcoa (NYSE:AA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 36,036 shares of the industrial products company's stock, valued at approximately $2,358,000.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of Alcoa by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,580,803 shares of the industrial products company's stock valued at $615,428,000 after acquiring an additional 462,243 shares in the last quarter. State Street Corp raised its position in Alcoa by 6.7% during the 3rd quarter. State Street Corp now owns 11,458,529 shares of the industrial products company's stock valued at $376,871,000 after purchasing an additional 721,063 shares in the last quarter. Geode Capital Management LLC raised its position in Alcoa by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 6,655,655 shares of the industrial products company's stock valued at $389,621,000 after purchasing an additional 349,426 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Alcoa by 211.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company's stock worth $332,338,000 after buying an additional 4,247,559 shares in the last quarter. Finally, L1 Capital Pty Ltd grew its position in shares of Alcoa by 22.3% during the 3rd quarter. L1 Capital Pty Ltd now owns 5,887,699 shares of the industrial products company's stock worth $193,646,000 after buying an additional 1,073,357 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AA shares. JPMorgan Chase & Co. decreased their price objective on Alcoa from $55.00 to $52.00 and set a "neutral" rating for the company in a report on Friday. Wells Fargo & Company dropped their target price on shares of Alcoa from $72.00 to $71.00 and set an "overweight" rating on the stock in a report on Friday. Weiss Ratings raised shares of Alcoa from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, June 17th. UBS Group reduced their price target on shares of Alcoa from $80.00 to $68.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada set a $70.00 price target on shares of Alcoa in a research report on Wednesday, July 1st. Five 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $62.73.

Alcoa Price Performance

AA opened at $43.60 on Tuesday. The firm has a market capitalization of $11.51 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 0.48 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. The business's 50-day moving average is $61.27 and its two-hundred day moving average is $62.45. Alcoa has a 1 year low of $28.11 and a 1 year high of $84.38.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.13). The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same quarter in the prior year, the business posted $0.39 earnings per share. Research analysts anticipate that Alcoa will post 6.79 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Alcoa's dividend payout ratio is presently 8.23%.

Alcoa Company 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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