Federation des caisses Desjardins du Quebec Has $5.25 Million Stock Position in Alcoa $AA

Key Points

• Federation des caisses Desjardins du Quebec has reduced its stake in Alcoa by 11.9%, owning 172,039 shares valued at approximately $5.25 million as of the latest reporting period.
• Alcoa reported a quarterly EPS of $0.39, exceeding estimates, with revenues of $3.02 billion, up 3.9% compared to the same quarter last year.
• The company recently declared a quarterly dividend of $0.10, resulting in an annualized yield of 1.3% and a payout ratio of 10.44%.

Federation des caisses Desjardins du Quebec cut its holdings in Alcoa (NYSE:AA - Free Report) by 11.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 172,039 shares of the industrial products company's stock after selling 23,131 shares during the quarter. Federation des caisses Desjardins du Quebec owned about 0.07% of Alcoa worth $5,247,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AA. L1 Capital Pty Ltd bought a new stake in Alcoa in the 1st quarter valued at approximately $52,675,000. Dimensional Fund Advisors LP lifted its stake in Alcoa by 33.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,803,086 shares of the industrial products company's stock valued at $207,490,000 after acquiring an additional 1,721,222 shares in the last quarter. Sourcerock Group LLC raised its stake in shares of Alcoa by 319.1% during the 4th quarter. Sourcerock Group LLC now owns 1,978,009 shares of the industrial products company's stock worth $74,729,000 after purchasing an additional 1,506,009 shares in the last quarter. Nuveen LLC bought a new stake in shares of Alcoa during the 1st quarter worth approximately $23,339,000. Finally, Deutsche Bank AG raised its stake in shares of Alcoa by 481.2% during the 1st quarter. Deutsche Bank AG now owns 907,117 shares of the industrial products company's stock worth $27,667,000 after purchasing an additional 751,053 shares in the last quarter.

Analyst Upgrades and Downgrades

AA has been the topic of a number of analyst reports. Barclays upped their price objective on Alcoa to $31.00 and gave the stock a "hold" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. dropped their price objective on Alcoa from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. B. Riley upped their price objective on Alcoa from $37.00 to $38.00 and gave the stock a "buy" rating in a research note on Tuesday. UBS Group reiterated a "neutral" rating and set a $31.00 price objective on shares of Alcoa in a research note on Thursday, May 15th. Finally, Citigroup upgraded Alcoa to a "buy" rating and set a $42.00 price objective on the stock in a research note on Tuesday, July 8th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Alcoa has an average rating of "Hold" and an average price target of $41.75.

Alcoa Stock Performance

NYSE AA traded up $0.09 on Wednesday, reaching $31.36. The stock had a trading volume of 1,652,165 shares, compared to its average volume of 5,887,015. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.65 and a quick ratio of 0.97. The firm has a fifty day moving average of $30.71 and a two-hundred day moving average of $29.35. Alcoa has a 1-year low of $21.53 and a 1-year high of $47.77. The company has a market cap of $8.12 billion, a P/E ratio of 8.19, a price-to-earnings-growth ratio of 0.18 and a beta of 2.26.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.96 billion. Alcoa had a return on equity of 19.18% and a net margin of 7.86%.The company's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 EPS. On average, equities research analysts anticipate that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 12th. Alcoa's dividend payout ratio is 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.