Great Lakes Advisors LLC Buys Shares of 218,419 Alcoa $AA

Key Points

• Great Lakes Advisors LLC acquired a new stake in Alcoa, purchasing 218,419 shares valued at approximately $6.66 million, representing about 0.08% of the company.
• Alcoa reported earnings of $0.39 EPS, exceeding the consensus estimate by $0.10, with revenue rising to $3.02 billion for the quarter.
• The company announced a quarterly dividend of $0.10 per share, reflecting a 1.3% dividend yield with a payout ratio of 10.44%.

Great Lakes Advisors LLC purchased a new stake in shares of Alcoa (NYSE:AA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 218,419 shares of the industrial products company's stock, valued at approximately $6,662,000. Great Lakes Advisors LLC owned about 0.08% of Alcoa at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in Alcoa by 33.9% during 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 purchasing an additional 1,721,222 shares during the last quarter. Sourcerock Group LLC lifted its holdings in Alcoa by 319.1% during the 4th quarter. Sourcerock Group LLC now owns 1,978,009 shares of the industrial products company's stock valued at $74,729,000 after purchasing an additional 1,506,009 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Alcoa by 0.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,899,066 shares of the industrial products company's stock valued at $57,922,000 after purchasing an additional 6,832 shares during the last quarter. L1 Capital Pty Ltd acquired a new stake in Alcoa during the 1st quarter valued at $52,675,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Alcoa by 39.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,714,733 shares of the industrial products company's stock valued at $52,300,000 after purchasing an additional 482,936 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company's stock.

Alcoa Price Performance

Shares of NYSE AA traded up $0.34 during mid-day trading on Monday, reaching $33.58. The company had a trading volume of 1,955,365 shares, compared to its average volume of 5,907,051. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.65. Alcoa has a one year low of $21.53 and a one year high of $47.77. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 0.19 and a beta of 2.26. The business's 50-day simple moving average is $30.76 and its 200 day simple moving average is $29.28.

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

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, August 12th. Alcoa's payout ratio is currently 10.44%.

Analyst Ratings Changes

Several equities research analysts have issued reports on AA shares. JPMorgan Chase & Co. cut their price target on Alcoa from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Citigroup raised Alcoa to a "buy" rating and set a $42.00 target price for the company in a report on Tuesday, July 8th. Morgan Stanley dropped their target price on Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Bank of America lifted their target price on Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a report on Thursday, July 17th. Finally, B. Riley lifted their target price on Alcoa from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $41.75.

About Alcoa

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.