Danske Bank A S Buys New Stake in Alcoa $AA

Key Points

• Danske Bank acquired 66,599 Alcoa shares during the second quarter, valued at approximately $3.47 million. Institutional investors and hedge funds collectively own 82.39% of Alcoa’s stock.
• Analyst sentiment remains mixed, with six Buy, four Hold and two Sell ratings. The consensus rating is Hold, with an average price target of $61.09, despite several analysts recently lowering their targets.
• Alcoa reported quarterly EPS of $2.12, below the $2.25 consensus estimate, while revenue of $3.97 billion also slightly missed expectations. The company declared a quarterly dividend of $0.10 per share, equal to a 0.8% annualized yield.

Danske Bank A S bought a new stake in Alcoa (NYSE:AA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 66,599 shares of the industrial products company's stock, valued at approximately $3,472,000.

A number of other large investors have also made changes to their positions in AA. Basepoint Wealth LLC purchased a new stake in shares of Alcoa during the 4th quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Alcoa during the 2nd quarter worth $25,000. Western Wealth Management LLC purchased a new position in Alcoa during the 1st quarter worth $35,000. Caitong International Asset Management Co. Ltd grew its stake in Alcoa by 5,281.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company's stock worth $31,000 after buying an additional 581 shares during the last quarter. Finally, Quarry LP increased its position in Alcoa by 96.0% during the 4th quarter. Quarry LP now owns 694 shares of the industrial products company's stock valued at $37,000 after buying an additional 340 shares in the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AA has been the subject of a number of research analyst reports. Weiss Ratings upgraded Alcoa from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, June 17th. Morgan Stanley restated an "equal weight" rating and set a $53.00 price target (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th. Wells Fargo & Company cut their price objective on shares of Alcoa from $72.00 to $71.00 and set an "overweight" rating on the stock in a report on Friday, July 17th. Bank of America lowered their target price on shares of Alcoa from $57.00 to $51.00 and set an "underperform" rating for the company in a research note on Thursday, July 9th. Finally, B. Riley Financial dropped their target price on shares of Alcoa from $92.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $61.09.

Alcoa Stock Performance

AA opened at $51.83 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. Alcoa has a 12-month low of $29.49 and a 12-month high of $84.38. The firm has a 50 day moving average of $50.14 and a two-hundred day moving average of $60.25. The firm has a market capitalization of $13.68 billion, a PE ratio of 10.66, a P/E/G ratio of 0.57 and a beta of 1.63.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings data 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). 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 analyst estimates of $3.99 billion. During the same quarter in the previous year, the company earned $0.39 EPS. On average, analysts anticipate that Alcoa will post 6.55 EPS for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 11th. Alcoa's dividend payout ratio is presently 8.23%.

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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