Lombard Odier Asset Management Europe Ltd Has $5.99 Million Stake in Alcoa $AA

Key Points

• Lombard Odier Asset Management Europe Ltd boosted its Alcoa stake by 90.9% in the first quarter, ending with 90,258 shares worth about $5.99 million.
• Several other institutional investors also increased their Alcoa holdings, while Wall Street sentiment remains mixed: analysts now show a consensus Hold rating with a $61.09 price target.
• Alcoa reported Q2 EPS of $2.12, missing estimates, and shares were trading at $44.20, well below their 50-day and 200-day moving averages; the company also pays a $0.10 quarterly dividend yielding about 0.9%.

Lombard Odier Asset Management Europe Ltd increased its stake in Alcoa (NYSE:AA - Free Report) by 90.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,258 shares of the industrial products company's stock after acquiring an additional 42,979 shares during the quarter. Lombard Odier Asset Management Europe Ltd's holdings in Alcoa were worth $5,987,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AA. NewEdge Advisors LLC increased its stake in Alcoa by 1,098.0% in the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company's stock valued at $357,000 after purchasing an additional 10,727 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Alcoa by 0.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company's stock valued at $19,722,000 after purchasing an additional 4,624 shares during the period. Invesco Ltd. boosted its position in shares of Alcoa by 1.9% during the 2nd quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company's stock worth $18,902,000 after purchasing an additional 12,008 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Alcoa by 173.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company's stock worth $60,000 after purchasing an additional 1,295 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Alcoa by 320.1% in the 2nd quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company's stock valued at $7,967,000 after buying an additional 205,717 shares during the period.

Analyst Ratings Changes

A number of analysts recently commented on the company. BMO Capital Markets decreased their target price on Alcoa from $60.00 to $55.00 and set a "market perform" rating for the company in a research report on Friday, July 17th. Bank of America cut their price target on Alcoa from $57.00 to $51.00 and set an "underperform" rating on the stock in a report on Thursday, July 9th. Morgan Stanley reissued an "equal weight" rating and issued a $53.00 price objective (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th. Wells Fargo & Company decreased their price objective on Alcoa from $72.00 to $71.00 and set an "overweight" rating for the company in a report on Friday, July 17th. Finally, UBS Group lowered their target price on Alcoa from $80.00 to $68.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $61.09.

Alcoa Price Performance

Shares of NYSE AA opened at $44.20 on Friday. Alcoa has a fifty-two week low of $28.11 and a fifty-two week high of $84.38. The stock has a market cap of $11.66 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 0.50 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. The firm's 50-day simple moving average is $59.57 and its 200 day simple moving average is $62.13.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.13). The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same quarter last year, the firm posted $0.39 EPS. As a group, research analysts anticipate that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, May 19th. Alcoa's dividend payout ratio (DPR) is currently 8.23%.

About Alcoa

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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