Quantbot Technologies LP Acquires 123,765 Shares of Alcoa $AA

Key Points

• Quantbot Technologies LP increased its holdings in Alcoa by 41.0%, owning approximately $12.99 million worth of shares after acquiring 123,765 additional shares in the first quarter.
• A number of institutional investors, including Algert Global LLC and Dimensional Fund Advisors LP, have also boosted their positions in Alcoa, reflecting a growing interest in the company's stock.
• Alcoa recently announced a quarterly dividend of $0.10 per share, which represents an annualized yield of 1.3%, indicating a stable return for shareholders.

Quantbot Technologies LP grew its holdings in Alcoa (NYSE:AA - Free Report) by 41.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 425,835 shares of the industrial products company's stock after purchasing an additional 123,765 shares during the period. Quantbot Technologies LP owned approximately 0.16% of Alcoa worth $12,988,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Algert Global LLC lifted its holdings in shares of Alcoa by 68.8% in the first quarter. Algert Global LLC now owns 263,410 shares of the industrial products company's stock valued at $8,034,000 after purchasing an additional 107,353 shares in the last quarter. Corient IA LLC purchased a new stake in shares of Alcoa in the first quarter valued at $261,000. Tejara Capital Ltd purchased a new stake in shares of Alcoa in the first quarter valued at $1,693,000. Dimensional Fund Advisors LP lifted its holdings in shares of Alcoa by 33.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,803,086 shares of the industrial products company's stock valued at $207,490,000 after purchasing an additional 1,721,222 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of Alcoa by 5.3% in the first quarter. Kovitz Investment Group Partners LLC now owns 81,772 shares of the industrial products company's stock valued at $2,494,000 after purchasing an additional 4,134 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AA shares. Wall Street Zen lowered Alcoa from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. B. Riley cut their price objective on Alcoa from $38.00 to $37.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. JPMorgan Chase & Co. cut their price objective on Alcoa from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Bank of America increased their price objective on Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a report on Thursday, July 17th. Finally, Morgan Stanley cut their price objective on Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Alcoa has a consensus rating of "Hold" and a consensus price target of $41.23.

Alcoa Stock Performance

Shares of NYSE:AA traded up $2.18 during midday trading on Friday, hitting $31.69. The company's stock had a trading volume of 8,486,437 shares, compared to its average volume of 5,953,734. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 0.17 and a beta of 2.24. The stock's 50 day simple moving average is $29.96 and its 200 day simple moving average is $29.82. Alcoa has a fifty-two week low of $21.53 and a fifty-two week 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.

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 company had revenue of $3.02 billion for 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 last year, the business posted $0.16 earnings per share. As a group, research analysts anticipate that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

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

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.