16,332 Shares in Alcoa (NYSE:AA) Acquired by Blueshift Asset Management LLC

Key Points

• Blueshift Asset Management LLC has invested approximately $498,000 in Alcoa by purchasing 16,332 shares in the first quarter of the year.
• Alcoa's recent quarterly earnings report showed an EPS of $0.39, exceeding analysts' expectations of $0.29, and reflected a 3.9% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.10 per share, which is set to be paid out on August 28th and represents an annual yield of 1.4%.

Blueshift Asset Management LLC purchased a new stake in shares of Alcoa (NYSE:AA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 16,332 shares of the industrial products company's stock, valued at approximately $498,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. LPL Financial LLC boosted its holdings in Alcoa by 3.4% in the fourth quarter. LPL Financial LLC now owns 163,391 shares of the industrial products company's stock worth $6,173,000 after acquiring an additional 5,446 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Alcoa by 151.5% in the fourth quarter. Prudential Financial Inc. now owns 47,396 shares of the industrial products company's stock worth $1,791,000 after buying an additional 28,549 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Alcoa by 23.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 39,540 shares of the industrial products company's stock valued at $1,494,000 after buying an additional 7,554 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Alcoa by 11.5% during the fourth quarter. California Public Employees Retirement System now owns 360,732 shares of the industrial products company's stock valued at $13,628,000 after acquiring an additional 37,303 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in Alcoa by 6.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,029 shares of the industrial products company's stock valued at $341,000 after acquiring an additional 517 shares in the last quarter.

Alcoa Stock Performance

Shares of Alcoa stock traded up $0.72 during midday trading on Monday, hitting $29.12. The company had a trading volume of 5,492,435 shares, compared to its average volume of 6,439,857. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 0.16 and a beta of 2.24. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77. The company has a fifty day simple moving average of $29.35 and a 200 day simple moving average of $30.36. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.41.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The firm had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same quarter in the previous year, the company posted $0.16 EPS. The company's revenue was up 3.9% compared to the same quarter last year. As a group, analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 12th. Alcoa's dividend payout ratio is currently 10.44%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AA. JPMorgan Chase & Co. lowered their price target on Alcoa from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Bank of America lifted their target price on shares of Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a research report on Thursday, July 17th. Wall Street Zen cut Alcoa from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Morgan Stanley cut 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. Finally, Citigroup raised Alcoa to a "buy" rating and set a $42.00 target price on the stock in a report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $41.23.

About Alcoa

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.