Regal Partners Ltd Has $23.64 Million Stock Holdings in Alcoa $AA

Key Points

• Regal Partners sharply increased its Alcoa stake by 567.4% in the first quarter, adding 302,940 shares to own 356,330 shares valued at approximately $23.64 million, or 0.14% of Alcoa.
• Alcoa reported quarterly EPS of $2.12, below the $2.25 analyst consensus, while revenue of $3.97 billion also slightly missed estimates. Institutional investors collectively own 82.39% of the stock.
• Analyst sentiment remains mixed, with six Buy, four Hold and two Sell ratings; the average price target is $61.09 versus Alcoa’s reported share price of $44.38. The company also pays a quarterly dividend of $0.10 per share, yielding about 0.9% annually.

Regal Partners Ltd grew its stake in Alcoa (NYSE:AA - Free Report) by 567.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 356,330 shares of the industrial products company's stock after purchasing an additional 302,940 shares during the quarter. Alcoa comprises approximately 1.3% of Regal Partners Ltd's holdings, making the stock its 16th largest holding. Regal Partners Ltd owned 0.14% of Alcoa worth $23,635,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Basepoint Wealth LLC bought a new stake in Alcoa in the fourth quarter valued at about $25,000. Advisory Services Network LLC acquired a new position in Alcoa in the third quarter valued at about $27,000. Raleigh Capital Management Inc. boosted its holdings in Alcoa by 52,500.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company's stock worth $28,000 after buying an additional 525 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company's stock worth $30,000 after buying an additional 237 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Alcoa by 5,281.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company's stock worth $31,000 after buying an additional 581 shares during the period. 82.39% of the stock is currently owned by institutional investors.

Alcoa Stock Up 0.7%

NYSE:AA opened at $44.38 on Wednesday. Alcoa has a 1 year low of $28.11 and a 1 year high of $84.38. The stock has a 50-day moving average price of $58.81 and a two-hundred day moving average price of $61.87. The stock has a market cap of $11.71 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 0.50 and a beta of 1.63. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30.

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

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa's dividend payout ratio is presently 8.23%.

Analyst Ratings Changes

AA has been the subject of a number of recent analyst reports. Zacks Research cut Alcoa from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. UBS Group reduced their price objective on shares of Alcoa from $80.00 to $68.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. BMO Capital Markets decreased their price objective on shares of Alcoa from $60.00 to $55.00 and set a "market perform" rating for the company in a report on Friday, July 17th. JPMorgan Chase & Co. lowered their target price on shares of Alcoa from $55.00 to $52.00 and set a "neutral" rating for the company in a research note on Friday, July 17th. Finally, Argus cut their target price on shares of Alcoa from $73.00 to $55.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Alcoa has an average rating of "Hold" and an average price target of $61.09.

Alcoa Profile

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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