Dimensional Fund Advisors LP Buys 1,322,540 Shares of Alcoa $AA

Key Points

• Dimensional Fund Advisors raised its Alcoa stake by 13.5%, purchasing 1,322,540 shares to hold 11,118,560 shares (4.29% of the company) valued at about $365.7 million.
• Alcoa beat quarterly expectations with EPS of $1.26 (vs. $0.95 consensus) and reported $6.75 billion in revenue, and the stock trades at a market cap of $15.93 billion with a PE of 13.66.
• Alcoa announced a quarterly dividend of $0.10 per share (annualized $0.40, ~0.7% yield), payable March 26 to holders of record on March 10.

Dimensional Fund Advisors LP raised its stake in shares of Alcoa (NYSE:AA - Free Report) by 13.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,118,560 shares of the industrial products company's stock after purchasing an additional 1,322,540 shares during the period. Dimensional Fund Advisors LP owned 4.29% of Alcoa worth $365,710,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Cresset Asset Management LLC bought a new stake in shares of Alcoa during the third quarter worth $213,000. South Dakota Investment Council boosted its holdings in shares of Alcoa by 2.2% in the 3rd quarter. South Dakota Investment Council now owns 65,683 shares of the industrial products company's stock valued at $2,160,000 after buying an additional 1,400 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Alcoa by 36.4% in the third quarter. Victory Capital Management Inc. now owns 823,136 shares of the industrial products company's stock worth $27,073,000 after purchasing an additional 219,662 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in Alcoa during the 3rd quarter worth $568,000. Finally, Huntington National Bank increased its stake in Alcoa by 167.9% during the 3rd quarter. Huntington National Bank now owns 1,259 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 789 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Zacks Research cut shares of Alcoa from a "strong-buy" rating to a "hold" rating in a report on Friday, February 13th. Wall Street Zen raised Alcoa from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $50.00 price objective (up from $45.00) on shares of Alcoa in a report on Thursday, January 8th. Citigroup boosted their price objective on Alcoa from $42.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, December 19th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Alcoa in a research report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Alcoa currently has an average rating of "Hold" and an average price target of $48.25.

Alcoa Stock Performance

Shares of NYSE:AA opened at $60.39 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.44 and a quick ratio of 0.87. Alcoa has a 1 year low of $21.53 and a 1 year high of $68.40. The firm has a market capitalization of $15.93 billion, a PE ratio of 13.66 and a beta of 1.85. The business's 50 day moving average price is $60.48 and its 200-day moving average price is $45.42.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.31. Alcoa had a return on equity of 16.19% and a net margin of 9.12%.The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the firm posted $1.04 EPS. The firm's revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts expect 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, March 26th. Investors of record on Tuesday, March 10th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 10th. Alcoa's dividend payout ratio is currently 9.05%.

About Alcoa

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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