Hsbc Holdings PLC Boosts Holdings in Alcoa $AA

Key Points

• Hsbc Holdings PLC increased its stake in Alcoa by 252.6% in the first quarter, owning 180,953 shares valued at $5,446,000 as per its recent SEC filing.
• Alcoa reported a quarterly EPS of $0.39, surpassing estimates, and demonstrated a 3.9% year-over-year revenue increase to $3.02 billion.
• The company announced a quarterly dividend of $0.10 per share, resulting in a 1.3% yield and a payout ratio of 10.44%.

Hsbc Holdings PLC lifted its stake in Alcoa (NYSE:AA - Free Report) by 252.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,953 shares of the industrial products company's stock after purchasing an additional 129,631 shares during the quarter. Hsbc Holdings PLC owned 0.07% of Alcoa worth $5,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quantbot Technologies LP boosted its holdings in shares of Alcoa by 41.0% in the first quarter. Quantbot Technologies LP now owns 425,835 shares of the industrial products company's stock worth $12,988,000 after buying an additional 123,765 shares during the last quarter. Algert Global LLC boosted its stake in Alcoa by 68.8% in the 1st quarter. Algert Global LLC now owns 263,410 shares of the industrial products company's stock worth $8,034,000 after purchasing an additional 107,353 shares during the period. Corient IA LLC bought a new position in Alcoa in the 1st quarter worth approximately $261,000. Tejara Capital Ltd bought a new position in Alcoa in the 1st quarter worth approximately $1,693,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of 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 acquiring an additional 1,721,222 shares during the last quarter.

Alcoa Stock Up 0.5%

NYSE AA opened at $31.83 on Tuesday. The business has a fifty day moving average price of $30.09 and a 200 day moving average price of $29.67. Alcoa has a one year low of $21.53 and a one year high of $47.77. 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 market cap of $8.24 billion, a P/E ratio of 8.31, a P/E/G ratio of 0.18 and a beta of 2.24.

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

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, August 12th. Alcoa's dividend payout ratio is presently 10.44%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AA shares. JPMorgan Chase & Co. lowered their price target on Alcoa from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. UBS Group restated a "neutral" rating and set a $31.00 price target on shares of Alcoa in a research note on Thursday, May 15th. Barclays raised their price objective on Alcoa to $31.00 and gave the company a "hold" rating in a research report on Friday, May 16th. B. Riley dropped their price target on Alcoa from $38.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Finally, Citigroup upgraded Alcoa to a "buy" rating and set a $42.00 price target on the stock in a research note on Tuesday, July 8th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $41.23.

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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