Entropy Technologies LP Buys New Holdings in Alcoa (NYSE:AA)

Key Points

• Entropy Technologies LP purchased a new stake in Alcoa, acquiring 40,435 shares valued at approximately $1,233,000 in the first quarter.
• Alcoa's stock has received mixed analyst ratings, with sixes hold ratings, seven buy ratings, and one sell rating, while the average target price stands at $41.23.
• The company reported a quarterly earnings per share of $0.39, exceeding expectations, along with a quarterly dividend of $0.10 per share set for distribution on August 28th.

Entropy Technologies LP bought a new stake in Alcoa (NYSE:AA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 40,435 shares of the industrial products company's stock, valued at approximately $1,233,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. acquired a new position in Alcoa during the 4th quarter valued at about $1,632,000. Legal & General Group Plc boosted its stake in Alcoa by 0.7% during the 4th quarter. Legal & General Group Plc now owns 388,196 shares of the industrial products company's stock valued at $14,666,000 after purchasing an additional 2,760 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Alcoa during the 4th quarter valued at about $11,829,000. Raymond James Financial Inc. acquired a new position in Alcoa during the 4th quarter valued at about $1,639,000. Finally, Bessemer Group Inc. boosted its stake in Alcoa by 77.1% during the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 296 shares during the last quarter.

Analysts Set New Price Targets

AA has been the subject of a number of analyst reports. Wall Street Zen downgraded Alcoa from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. B. Riley cut their price target on Alcoa from $38.00 to $37.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Citigroup upgraded Alcoa to a "buy" rating and set a $42.00 price target for the company in a research note on Tuesday, July 8th. JPMorgan Chase & Co. cut their target price on Alcoa from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Finally, Bank of America boosted their target price on Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $41.23.

Alcoa Trading Down 2.8%

Shares of Alcoa stock opened at $29.34 on Tuesday. The company has a market capitalization of $7.60 billion, a P/E ratio of 7.66, a P/E/G ratio of 0.17 and a beta of 2.24. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.65. The company has a fifty day moving average of $29.60 and a 200 day moving average of $29.99. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. The business had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $2.96 billion. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The business's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.16 EPS. On average, sell-side analysts anticipate that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, August 12th. Alcoa's dividend payout ratio is currently 10.44%.

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.

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