GSA Capital Partners LLP Takes Position in Alcoa (NYSE:AA)

Key Points

• GSA Capital Partners LLP has acquired a new stake in Alcoa, purchasing 31,190 shares valued at approximately $951,000, signaling institutional interest in the company.
• Alcoa recently announced a quarterly dividend of $0.10 per share, with a dividend yield of 1.3%, reflecting a payout ratio of 10.44%.
• Analysts have mixed opinions on Alcoa's stock, with ratings varying from "buy" to "hold," and an average price target of $41.23, with some institutions adjusting their price targets downward.

GSA Capital Partners LLP purchased a new stake in shares of Alcoa (NYSE:AA - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 31,190 shares of the industrial products company's stock, valued at approximately $951,000.

A number of other hedge funds have also modified their holdings of AA. Bessemer Group Inc. boosted its holdings in Alcoa by 77.1% in 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. Versant Capital Management Inc grew its position in Alcoa by 134.7% during the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock worth $28,000 after purchasing an additional 520 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Alcoa in the 4th quarter worth $36,000. Montag A & Associates Inc. acquired a new position in Alcoa during the 1st quarter worth approximately $40,000. Finally, Continuum Advisory LLC boosted its stake in shares of Alcoa by 30.7% in the fourth quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company's stock valued at $56,000 after buying an additional 345 shares in the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.

Alcoa Price Performance

Alcoa stock traded up $0.39 during midday trading on Tuesday, hitting $29.51. The company's stock had a trading volume of 1,762,323 shares, compared to its average volume of 5,987,331. Alcoa has a 12 month low of $21.53 and a 12 month high of $47.77. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.41. The stock's 50-day moving average price is $29.37 and its 200-day moving average price is $30.29. The company has a market capitalization of $7.64 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 0.16 and a beta of 2.24.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the prior year, the company earned $0.16 earnings per share. The firm's revenue was up 3.9% on a year-over-year basis. Analysts anticipate that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. B. Riley reduced their price objective on Alcoa from $38.00 to $37.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Morgan Stanley lowered their price target on Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Citigroup raised shares of Alcoa to a "buy" rating and set a $42.00 price objective for the company in a research report on Tuesday, July 8th. Bank of America lifted their price target on shares of Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a research note on Thursday, July 17th. Finally, Barclays lifted their target price on Alcoa to $31.00 and gave the stock a "hold" rating in a research report on Friday, May 16th. 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 stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $41.23.

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.