Empowered Funds LLC Buys 46,332 Shares of Alcoa $AA

Key Points

• Empowered Funds LLC increased its Alcoa stake by 64.6% in the first quarter, purchasing 46,332 additional shares and bringing its holdings to 118,039 shares valued at approximately $7.83 million.
• Institutional investors own 82.39% of Alcoa, while analyst sentiment remains mixed: six analysts rate the stock a Buy, four a Hold and two a Sell, resulting in an overall “Hold” consensus and a $61.09 average price target.
• Alcoa recently reported quarterly EPS of $2.12, below the $2.25 consensus estimate, and revenue of $3.97 billion. The company declared a quarterly dividend of $0.10 per share, equivalent to an annualized yield of 0.8%.

Empowered Funds LLC lifted its position in Alcoa (NYSE:AA - Free Report) by 64.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 118,039 shares of the industrial products company's stock after purchasing an additional 46,332 shares during the period. Empowered Funds LLC's holdings in Alcoa were worth $7,830,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AA. NewEdge Advisors LLC grew its position in shares of Alcoa by 1,098.0% during the 1st quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company's stock worth $357,000 after buying an additional 10,727 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Alcoa by 0.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company's stock worth $19,722,000 after buying an additional 4,624 shares during the period. Invesco Ltd. boosted its position in Alcoa by 1.9% during the second quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company's stock valued at $18,902,000 after purchasing an additional 12,008 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Alcoa by 173.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company's stock valued at $60,000 after purchasing an additional 1,295 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Alcoa by 320.1% in the second quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company's stock worth $7,967,000 after purchasing an additional 205,717 shares in the last quarter. Institutional investors own 82.39% of the company's stock.

Analyst Ratings Changes

AA has been the subject of a number of analyst reports. Weiss Ratings raised shares of Alcoa from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, June 17th. UBS Group cut their price target on shares of Alcoa from $80.00 to $68.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada set a $70.00 price objective on shares of Alcoa in a research note on Wednesday, July 1st. Argus lowered their price target on Alcoa from $73.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Alcoa from $72.00 to $71.00 and set an "overweight" rating for the company in a report on Friday, July 17th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $61.09.

Alcoa Trading Up 0.7%

AA stock opened at $49.95 on Friday. The company's 50-day simple moving average is $52.01 and its 200-day simple moving average is $60.53. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. Alcoa has a 52-week low of $28.92 and a 52-week high of $84.38. The firm has a market cap of $13.18 billion, a P/E ratio of 10.28, a PEG ratio of 0.57 and a beta of 1.63.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.13). The business had revenue of $3.97 billion during 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 in the prior year, the firm earned $0.39 EPS. As a group, equities analysts forecast that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Announces Dividend

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

Alcoa Company 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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