Impala Asset Management LLC Makes New $7.04 Million Investment in Alcoa $AA

Key Points

• Impala Asset Management acquired 135,000 Alcoa shares worth approximately $7.04 million, making Alcoa its eighth-largest holding and representing about 4% of its portfolio.
• Institutional investors and hedge funds own 82.39% of Alcoa, while several firms recently increased their positions.
• Alcoa reported quarterly EPS of $2.12, below the $2.25 consensus estimate, and revenue of $3.97 billion versus expectations of $3.99 billion. Analysts maintain a consensus “Hold” rating with an average price target of $61.09.

Impala Asset Management LLC acquired a new stake in Alcoa (NYSE:AA - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 135,000 shares of the industrial products company's stock, valued at approximately $7,039,000. Alcoa comprises approximately 4.0% of Impala Asset Management LLC's holdings, making the stock its 8th largest holding. Impala Asset Management LLC owned about 0.05% of Alcoa as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in AA. Checchi Capital Advisers LLC raised its position in shares of Alcoa by 3.4% during the first quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company's stock worth $341,000 after acquiring an additional 170 shares during the last quarter. Essential Partners LLC increased its position in Alcoa by 0.9% in the first quarter. Essential Partners LLC now owns 20,525 shares of the industrial products company's stock worth $1,361,000 after purchasing an additional 193 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in Alcoa by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company's stock worth $3,079,000 after purchasing an additional 229 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Alcoa by 1.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company's stock worth $722,000 after purchasing an additional 241 shares during the last quarter. Finally, Himension Capital Singapore PTE. LTD. lifted its position in Alcoa by 1.3% during the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 18,626 shares of the industrial products company's stock valued at $1,235,000 after purchasing an additional 246 shares during the period. 82.39% of the stock is owned by institutional investors and hedge funds.

Alcoa Price Performance

Shares of AA stock opened at $51.32 on Friday. Alcoa has a 12-month low of $30.21 and a 12-month high of $84.38. The firm has a market capitalization of $13.54 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $49.21 and a 200-day moving average of $60.03.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the previous year, the business posted $0.39 EPS. On average, equities research analysts forecast that Alcoa will post 6.55 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, August 11th. Alcoa's payout ratio is 8.23%.

Analyst Ratings Changes

AA has been the subject of a number of analyst reports. Royal Bank Of Canada set a $70.00 target price on shares of Alcoa in a report on Wednesday, July 1st. JPMorgan Chase & Co. decreased their price objective on Alcoa from $55.00 to $52.00 and set a "neutral" rating for the company in a research note on Friday, July 17th. Wall Street Zen upgraded Alcoa from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. UBS Group cut their target price on Alcoa from $80.00 to $68.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Finally, BMO Capital Markets reduced their target price on Alcoa from $60.00 to $55.00 and set a "market perform" rating on the stock in a report on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $61.09.

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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