Global Retirement Partners LLC Acquires Shares of 25,113 Alcoa $AA

Key Points

• Global Retirement Partners LLC acquired 25,113 Alcoa shares during the second quarter, valued at approximately $1.31 million. Several other institutional investors also initiated or increased positions in the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $61.09. UBS, Argus, and Morgan Stanley recently cut their price targets, while some firms maintained or upgraded their ratings.
• Alcoa opened at $51.81, while its latest quarterly results fell short of expectations, with EPS of $2.12 versus the $2.25 consensus estimate. The company declared a quarterly dividend of $0.10 per share, representing a 0.8% annualized yield.

Global Retirement Partners LLC bought a new stake in Alcoa (NYSE:AA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 25,113 shares of the industrial products company's stock, valued at approximately $1,309,000.

Other large investors have also made changes to their positions in the company. Basepoint Wealth LLC acquired a new stake in shares of Alcoa during the 4th quarter worth about $25,000. Western Wealth Management LLC acquired a new position in Alcoa in the first quarter valued at about $35,000. Caitong International Asset Management Co. Ltd boosted its position in Alcoa by 5,281.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company's stock valued at $31,000 after buying an additional 581 shares in the last quarter. Quarry LP grew its stake in Alcoa by 96.0% during the fourth quarter. Quarry LP now owns 694 shares of the industrial products company's stock worth $37,000 after buying an additional 340 shares during the last quarter. Finally, Clearstead Trust LLC grew its stake in Alcoa by 431.7% during the fourth quarter. Clearstead Trust LLC now owns 755 shares of the industrial products company's stock worth $40,000 after buying an additional 613 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AA shares. UBS Group dropped their price objective on shares of Alcoa from $80.00 to $68.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Argus decreased their price target on Alcoa from $73.00 to $55.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings raised Alcoa from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, June 17th. Morgan Stanley reaffirmed an "equal weight" rating and set a $53.00 price target (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. Finally, Wall Street Zen upgraded Alcoa from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $61.09.

Alcoa Stock Up 3.7%

NYSE:AA opened at $51.81 on Tuesday. The stock's fifty day moving average price is $51.58 and its two-hundred day moving average price is $60.49. Alcoa has a 52-week low of $28.92 and a 52-week high of $84.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. The company has a market cap of $13.67 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 0.57 and a beta of 1.63.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.13). The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate 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 previous year, the business posted $0.39 earnings per share. On average, analysts anticipate that Alcoa will post 6.55 EPS for the current year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.40 annualized dividend and a yield of 0.8%. Alcoa's dividend payout ratio (DPR) is currently 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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