Regal Partners Ltd Raises Position in Alcoa (NYSE:AA)

Key Points

• Regal Partners Ltd has increased its stake in Alcoa by 56.2%, owning 322,856 shares after acquiring an additional 116,146 shares in the first quarter.
• Alcoa reported a better-than-expected earnings per share (EPS) of $0.39 for the last quarter, exceeding the consensus estimate of $0.29, with a revenue of $3.02 billion.
• The company recently declared a quarterly dividend of $0.10, with an annualized dividend yield of 1.3%, set to be paid on August 28th.

Regal Partners Ltd increased its holdings in shares of Alcoa (NYSE:AA - Free Report) by 56.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 322,856 shares of the industrial products company's stock after purchasing an additional 116,146 shares during the period. Alcoa accounts for 1.0% of Regal Partners Ltd's holdings, making the stock its 20th biggest holding. Regal Partners Ltd owned about 0.12% of Alcoa worth $9,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AA. Wealth Enhancement Advisory Services LLC increased its stake in shares of Alcoa by 61.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,914 shares of the industrial products company's stock worth $516,000 after purchasing an additional 6,447 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Alcoa by 58.8% during the first quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company's stock worth $70,000 after purchasing an additional 851 shares in the last quarter. Drummond Knight Asset Management Pty Ltd purchased a new stake in shares of Alcoa during the fourth quarter worth about $19,646,000. SG Americas Securities LLC increased its stake in shares of Alcoa by 630.4% during the first quarter. SG Americas Securities LLC now owns 28,955 shares of the industrial products company's stock worth $883,000 after purchasing an additional 24,991 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Alcoa by 10.6% during the first quarter. Janney Montgomery Scott LLC now owns 19,087 shares of the industrial products company's stock worth $582,000 after purchasing an additional 1,831 shares in the last quarter.

Alcoa Stock Down 0.4%

NYSE:AA traded down $0.12 during midday trading on Friday, hitting $31.21. 5,520,402 shares of the company were exchanged, compared to its average volume of 5,972,698. The company has a fifty day simple moving average of $29.83 and a 200 day simple moving average of $29.99. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. 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 company has a market capitalization of $8.08 billion, a PE ratio of 8.15, a price-to-earnings-growth ratio of 0.18 and a beta of 2.24.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period last year, the business earned $0.16 EPS. Alcoa's revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AA. Barclays boosted their target price on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a research note on Friday, May 16th. B. Riley lowered their price target on shares of Alcoa from $38.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Citigroup upgraded shares of Alcoa to a "buy" rating and set a $42.00 price target on the stock in a research report on Tuesday, July 8th. Bank of America boosted their price target on shares of Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley lowered their price target 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Alcoa presently has a consensus rating of "Hold" and a consensus price target 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.