Banco Bilbao Vizcaya Argentaria S.A. Buys 46,336 Shares of Alcoa $AA

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. significantly increased its stake in Alcoa by 131.1%, acquiring an additional 46,336 shares, bringing its total ownership to 81,693 shares worth approximately $2.46 million.
• Alcoa's recent quarterly earnings exceeded expectations, reporting $0.39 per share against an estimate of $0.29, and revenue of $3.02 billion, up 3.9% year-over-year.
• The company has declared a quarterly dividend of $0.10 per share, set to be paid on August 28th, with a current annualized yield of 1.4% and a payout ratio of 10.44%.

Banco Bilbao Vizcaya Argentaria S.A. lifted its position in Alcoa (NYSE:AA - Free Report) by 131.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,693 shares of the industrial products company's stock after acquiring an additional 46,336 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Alcoa were worth $2,456,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Hsbc Holdings PLC boosted its holdings in shares of Alcoa by 252.6% during the first quarter. Hsbc Holdings PLC now owns 180,953 shares of the industrial products company's stock worth $5,446,000 after purchasing an additional 129,631 shares during the period. Quantbot Technologies LP lifted its stake in Alcoa by 41.0% in the first quarter. Quantbot Technologies LP now owns 425,835 shares of the industrial products company's stock valued at $12,988,000 after acquiring an additional 123,765 shares during the last quarter. Algert Global LLC lifted its stake in Alcoa by 68.8% in the first quarter. Algert Global LLC now owns 263,410 shares of the industrial products company's stock valued at $8,034,000 after acquiring an additional 107,353 shares during the last quarter. Corient IA LLC acquired a new stake in Alcoa in the first quarter valued at approximately $261,000. Finally, Tejara Capital Ltd acquired a new stake in Alcoa in the first quarter valued at approximately $1,693,000.

Alcoa Price Performance

Shares of NYSE:AA traded up $0.15 on Monday, hitting $31.83. The stock had a trading volume of 3,812,910 shares, compared to its average volume of 5,942,009. Alcoa has a twelve month low of $21.53 and a twelve month high of $47.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.65. The firm's 50 day moving average price is $30.03 and its 200-day moving average price is $29.70. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 8.31, a price-to-earnings-growth ratio of 0.18 and a beta of 2.24.

Alcoa (NYSE:AA - Get Free Report) last issued its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, beating the consensus estimate 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 net margin of 7.86% and a return on equity of 19.18%. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.16 EPS. On average, equities research analysts predict 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 will be paid on Thursday, August 28th. Investors of record on Tuesday, August 12th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 12th. This represents a $0.40 annualized dividend and a yield of 1.3%. Alcoa's dividend payout ratio is 10.44%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AA. UBS Group reiterated a "neutral" rating and issued a $31.00 target price on shares of Alcoa in a research note on Thursday, May 15th. Morgan Stanley reduced their price objective on shares of Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Barclays upped their target price on shares of Alcoa to $31.00 and gave the company a "hold" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. cut their target price on shares of Alcoa from $28.00 to $27.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Finally, Wall Street Zen cut shares of Alcoa from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $41.23.

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.