Deutsche Bank AG Acquires New Stake in Alcoa $AA

Key Points

• Deutsche Bank acquired 1.06 million Alcoa shares worth approximately $55.3 million during the second quarter, giving it a 0.40% ownership stake.
• Alcoa shares opened at $50.65, with a market capitalization of $13.37 billion, after the company reported quarterly EPS of $2.12—below the $2.25 analyst consensus—and revenue of $3.97 billion.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $61.09. Alcoa also declared a quarterly dividend of $0.10 per share, equal to a 0.8% annualized yield.

Deutsche Bank AG bought a new stake in Alcoa (NYSE:AA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,060,767 shares of the industrial products company's stock, valued at approximately $55,308,000. Deutsche Bank AG owned 0.40% of Alcoa as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AA. Basepoint Wealth LLC purchased a new stake in shares of Alcoa during the 4th quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Alcoa in the second quarter worth approximately $25,000. Advisory Services Network LLC bought a new stake in Alcoa during the third quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd grew its position in Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company's stock valued at $31,000 after buying an additional 581 shares during the period. Finally, Western Wealth Management LLC purchased a new stake in Alcoa during the first quarter valued at approximately $35,000.

Alcoa Stock Performance

Shares of NYSE AA opened at $50.65 on Friday. The stock has a market cap of $13.37 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 0.58 and a beta of 1.63. Alcoa has a 1 year low of $28.92 and a 1 year high of $84.38. The firm has a fifty day moving average price of $50.48 and a 200-day moving average price of $60.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92.

Alcoa (NYSE:AA - Get Free Report) last released its 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 for the quarter, compared to analysts' expectations of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same quarter last year, the firm posted $0.39 EPS. Equities analysts anticipate that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. B. Riley Financial decreased their price target 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. Morgan Stanley reissued an "equal weight" rating and set a $53.00 price objective (down from $79.00) on shares of Alcoa in a research report on Wednesday, July 8th. Wall Street Zen upgraded Alcoa from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Zacks Research cut Alcoa from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 8th. Finally, Bank of America lowered their target price on Alcoa from $57.00 to $51.00 and set an "underperform" rating on the stock in a research report on Thursday, July 9th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Alcoa currently has a consensus rating of "Hold" and an average price target of $61.09.

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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