Readystate Asset Management LP Purchases Shares of 12,816 Alcoa (NYSE:AA)

Readystate Asset Management LP purchased a new position in Alcoa (NYSE:AA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,816 shares of the industrial products company's stock, valued at approximately $391,000.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Alcoa by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company's stock valued at $981,491,000 after buying an additional 165,420 shares during the period. Norges Bank acquired a new position in shares of Alcoa during the 4th quarter worth about $259,273,000. Geode Capital Management LLC raised its position in shares of Alcoa by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company's stock worth $159,966,000 after purchasing an additional 39,022 shares during the last quarter. Northern Trust Corp grew its stake in Alcoa by 46.8% during the 4th quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company's stock valued at $96,324,000 after acquiring an additional 813,214 shares in the last quarter. Finally, Sourcerock Group LLC grew its stake in Alcoa by 319.1% during the 4th quarter. Sourcerock Group LLC now owns 1,978,009 shares of the industrial products company's stock valued at $74,729,000 after acquiring an additional 1,506,009 shares in the last quarter.

Alcoa Stock Performance

Shares of NYSE:AA traded down $0.23 during trading on Thursday, reaching $31.88. The stock had a trading volume of 6,441,221 shares, compared to its average volume of 6,434,438. Alcoa has a 52 week low of $21.53 and a 52 week high of $47.77. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 8.32, a P/E/G ratio of 0.18 and a beta of 2.25. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. The stock has a fifty day simple moving average of $29.18 and a two-hundred day simple moving average of $30.73.

Alcoa (NYSE:AA - Get Free Report) last announced its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 7.86% and a return on equity of 19.27%. Alcoa's revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 earnings per share. As a group, analysts anticipate that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.25%. Alcoa's dividend payout ratio (DPR) is 10.44%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. UBS Group reissued a "neutral" rating and issued a $31.00 price target on shares of Alcoa in a research note on Thursday, May 15th. JPMorgan Chase & Co. reduced their target price on shares of Alcoa from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Wall Street Zen lowered shares of Alcoa from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Barclays raised their price objective on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a research report on Friday, May 16th. Finally, Morgan Stanley decreased their price objective on shares of Alcoa from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Alcoa has a consensus 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.