Invesco Ltd. Sells 26,420 Shares of Alcoa $AA

Key Points

• Invesco Ltd. reduced its stake in Alcoa by 4.0%, selling 26,420 shares during the first quarter, now holding approximately $19.17 million in shares.
• Alcoa's recent earnings report showed $0.39 EPS, exceeding the consensus estimate of $0.29, with a revenue of $3.02 billion, up 3.9% year-over-year.
• The company declared a $0.10 quarterly dividend, with an annualized yield of 1.4%, set to be paid on August 28th to stockholders of record.

Invesco Ltd. decreased its stake in Alcoa (NYSE:AA - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 628,520 shares of the industrial products company's stock after selling 26,420 shares during the period. Invesco Ltd. owned approximately 0.24% of Alcoa worth $19,170,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of Alcoa by 134.7% in the first quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock worth $28,000 after acquiring an additional 520 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Alcoa in the fourth quarter worth $36,000. Montag A & Associates Inc. acquired a new stake in shares of Alcoa in the first quarter worth $40,000. Continuum Advisory LLC grew 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 worth $56,000 after acquiring an additional 345 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Alcoa by 58.8% in the first quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company's stock worth $70,000 after acquiring an additional 851 shares during the last quarter.

Alcoa Trading Up 0.5%

Shares of AA traded up $0.15 during trading hours on Monday, hitting $31.83. 3,811,165 shares of the stock traded hands, compared to its average volume of 5,942,007. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. Alcoa has a 1-year low of $21.53 and a 1-year high of $47.77. The firm has a market capitalization of $8.24 billion, a PE ratio of 8.31, a price-to-earnings-growth ratio of 0.18 and a beta of 2.24. The business has a fifty day moving average of $30.03 and a 200-day moving average of $29.70.

Alcoa (NYSE:AA - Get Free Report) last issued 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. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.96 billion. Alcoa had a return on equity of 19.18% and a net margin of 7.86%.The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 earnings per share. Analysts expect that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AA. UBS Group reaffirmed a "neutral" rating and issued a $31.00 target price on shares of Alcoa in a research report on Thursday, May 15th. Morgan Stanley decreased their target price on shares of Alcoa from $40.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Citigroup upgraded shares of Alcoa to a "buy" rating and set a $42.00 target price on the stock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. decreased their target price on shares of Alcoa from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Finally, Bank of America lifted their target price on shares of Alcoa from $26.00 to $27.00 and gave the company an "underperform" rating in a research report on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Alcoa currently has an average rating of "Hold" and a consensus target price 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.