Deutsche Bank AG Buys 751,053 Shares of Alcoa (NYSE:AA)

Deutsche Bank AG boosted its position in shares of Alcoa (NYSE:AA - Free Report) by 481.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 907,117 shares of the industrial products company's stock after purchasing an additional 751,053 shares during the period. Deutsche Bank AG owned 0.35% of Alcoa worth $27,667,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its stake in Alcoa by 61.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,914 shares of the industrial products company's stock valued at $516,000 after acquiring an additional 6,447 shares during the period. GAMMA Investing LLC grew its stake in Alcoa by 58.8% during the first quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company's stock worth $70,000 after buying an additional 851 shares during the last quarter. Drummond Knight Asset Management Pty Ltd bought a new stake in Alcoa during the fourth quarter worth about $19,646,000. SG Americas Securities LLC grew its stake in Alcoa by 630.4% during the first quarter. SG Americas Securities LLC now owns 28,955 shares of the industrial products company's stock worth $883,000 after buying an additional 24,991 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Alcoa by 10.6% during the first quarter. Janney Montgomery Scott LLC now owns 19,087 shares of the industrial products company's stock worth $582,000 after buying an additional 1,831 shares during the last quarter.

Alcoa Trading Down 0.4%

NYSE AA traded down $0.12 during trading hours on Friday, hitting $31.21. The company's stock had a trading volume of 5,520,402 shares, compared to its average volume of 5,972,698. The stock has a fifty day moving average of $29.83 and a 200 day moving average of $29.99. Alcoa has a twelve month low of $21.53 and a twelve month high of $47.77. The firm has a market capitalization of $8.08 billion, a P/E ratio of 8.15, a PEG ratio of 0.18 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 (NYSE:AA - Get Free Report) last posted its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.96 billion. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $0.16 earnings per share. Equities research analysts forecast that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th will be issued a $0.10 dividend. 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 (DPR) is 10.44%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AA. B. Riley reduced their target price on shares of Alcoa from $38.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Wall Street Zen lowered shares of Alcoa from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Bank of America upped 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. UBS Group reiterated a "neutral" rating and set a $31.00 target price on shares of Alcoa in a research report on Thursday, May 15th. Finally, Barclays upped their target price on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Alcoa currently has an average rating of "Hold" and a consensus price target 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.