Lesa Sroufe & Co Raises Stake in Alcoa $AA

Key Points

• Lesa Sroufe & Co increased its stake in Alcoa by 102.6% during Q2, owning 75,155 shares valued at approximately $2.2 million, making Alcoa its 19th largest holding.
• Several institutional investors, including Wealth Enhancement Advisory Services and Public Employees Retirement System of Ohio, also boosted their positions in Alcoa, reflecting growing confidence in the company's performance.
• Alcoa's stock has seen analysts raise price targets recently, with an average consensus target price of $43.04 and a mix of ratings from "Buy" to "Sell," indicating differing outlooks on the stock's future performance.

Lesa Sroufe & Co grew its stake in shares of Alcoa (NYSE:AA - Free Report) by 102.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,155 shares of the industrial products company's stock after purchasing an additional 38,063 shares during the period. Alcoa makes up about 2.0% of Lesa Sroufe & Co's holdings, making the stock its 19th largest position. Lesa Sroufe & Co's holdings in Alcoa were worth $2,218,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Alcoa by 61.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,914 shares of the industrial products company's stock worth $516,000 after buying an additional 6,447 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Alcoa by 5.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 80,223 shares of the industrial products company's stock worth $2,367,000 after buying an additional 4,255 shares in the last quarter. Strs Ohio purchased a new stake in shares of Alcoa in the 1st quarter worth about $841,000. GAMMA Investing LLC lifted its holdings in Alcoa by 58.8% in the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company's stock valued at $70,000 after purchasing an additional 851 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in Alcoa by 4.3% in the 1st quarter. Voya Investment Management LLC now owns 1,176,886 shares of the industrial products company's stock valued at $35,895,000 after purchasing an additional 48,604 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Bank of America upped their price objective on shares of Alcoa from $26.00 to $27.00 and gave the company an "underperform" rating in a research note on Thursday, July 17th. Weiss Ratings raised shares of Alcoa from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, October 8th. Morgan Stanley upped their price objective on shares of Alcoa from $38.00 to $42.50 and gave the company an "overweight" rating in a research note on Wednesday, October 8th. UBS Group upped their price objective on shares of Alcoa from $31.00 to $34.00 and gave the company a "neutral" rating in a research note on Friday, September 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alcoa from $27.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, October 9th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $43.04.

Alcoa Stock Performance

Alcoa stock opened at $36.51 on Thursday. The stock has a market cap of $9.45 billion, a P/E ratio of 9.53, a price-to-earnings-growth ratio of 0.22 and a beta of 2.20. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average of $32.47 and a 200-day moving average of $29.50. Alcoa has a 52 week low of $21.53 and a 52 week high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last released its earnings results 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. Alcoa had a return on equity of 19.18% and a net margin of 7.86%.The company had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the prior year, the business posted $0.16 EPS. The business's revenue was up 3.9% on a year-over-year basis. On average, analysts expect that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business 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. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.40 annualized dividend and a yield of 1.1%. Alcoa's dividend payout ratio (DPR) is currently 10.44%.

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.

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