Corient IA LLC Purchases Shares of 8,562 Alcoa $AA

Key Points

• Corient IA LLC has made a new investment in Alcoa, purchasing 8,562 shares valued at approximately $261,000 in the first quarter, according to their Form 13F filing.
• Alcoa reported a quarterly earnings per share (EPS) of $0.39, surpassing analysts' expectations, with a revenue of $3.02 billion for the quarter, up 3.9% year-over-year.
• The company declared a quarterly dividend of $0.10 per share, giving an annualized dividend of $0.40 and a yield of 1.3%, to be paid on August 28th.

Corient IA LLC acquired a new position in shares of Alcoa (NYSE:AA - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,562 shares of the industrial products company's stock, valued at approximately $261,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Continuum Advisory LLC increased its stake in Alcoa by 30.7% in the fourth quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 345 shares during the period. Captrust Financial Advisors lifted its position in Alcoa by 5.8% during the 4th quarter. Captrust Financial Advisors now owns 6,569 shares of the industrial products company's stock worth $248,000 after acquiring an additional 361 shares during the period. Versant Capital Management Inc lifted its position in Alcoa by 134.7% during the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock worth $28,000 after acquiring an additional 520 shares during the period. Circle Wealth Management LLC lifted its position in Alcoa by 7.5% during the 4th quarter. Circle Wealth Management LLC now owns 8,746 shares of the industrial products company's stock worth $330,000 after acquiring an additional 612 shares during the period. Finally, State of Michigan Retirement System lifted its position in Alcoa by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 61,875 shares of the industrial products company's stock worth $1,887,000 after acquiring an additional 700 shares during the period.

Alcoa Trading Up 7.4%

Shares of NYSE:AA traded up $2.18 during midday trading on Friday, reaching $31.69. The company's stock had a trading volume of 8,278,467 shares, compared to its average volume of 5,940,040. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 8.27, a price-to-earnings-growth ratio of 0.17 and a beta of 2.24. 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 has a 1 year low of $21.53 and a 1 year high of $47.77. The business has a 50 day moving average price of $29.96 and a 200 day moving average price of $29.82.

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

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, August 12th. Alcoa's payout ratio is 10.44%.

Analyst Ratings Changes

AA has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on Alcoa from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. UBS Group reiterated a "neutral" rating and set a $31.00 price target on shares of Alcoa in a research report on Thursday, May 15th. Wall Street Zen downgraded shares of Alcoa from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. B. Riley reduced their price objective on Alcoa from $38.00 to $37.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Finally, Barclays lifted their price objective on Alcoa to $31.00 and gave the stock a "hold" rating in a report on Friday, May 16th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Alcoa has a consensus rating of "Hold" and an average target price of $41.23.

Alcoa Company 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.