Sciencast Management LP Purchases Shares of 32,812 Alcoa $AA

Key Points

• Sciencast Management LP has acquired 32,812 shares of Alcoa valued at approximately $1,001,000, indicating institutional interest in the company.
• Alcoa's stock price recently rose by 0.6%, opening at $32.03 with a market capitalization of $8.29 billion.
• In its latest earnings report, Alcoa beat expectations by reporting $0.39 earnings per share, with revenues of $3.02 billion for the quarter.

Sciencast Management LP bought a new stake in Alcoa (NYSE:AA - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 32,812 shares of the industrial products company's stock, valued at approximately $1,001,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Alcoa by 61.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,914 shares of the industrial products company's stock valued at $516,000 after buying an additional 6,447 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Alcoa by 58.8% in the first quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company's stock valued at $70,000 after buying an additional 851 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Alcoa by 630.4% in the first quarter. SG Americas Securities LLC now owns 28,955 shares of the industrial products company's stock valued at $883,000 after buying an additional 24,991 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Alcoa by 10.6% in the first quarter. Janney Montgomery Scott LLC now owns 19,087 shares of the industrial products company's stock valued at $582,000 after buying an additional 1,831 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of Alcoa by 58.0% in the first quarter. QRG Capital Management Inc. now owns 11,236 shares of the industrial products company's stock valued at $343,000 after buying an additional 4,125 shares during the last quarter.

Alcoa Price Performance

Shares of Alcoa stock traded up $0.97 during trading on Friday, hitting $33.26. 8,311,403 shares of the company were exchanged, compared to its average volume of 5,144,855. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.41. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of 8.68, a P/E/G ratio of 0.18 and a beta of 2.26. The firm has a 50 day moving average price of $30.76 and a 200 day moving average price of $29.34.

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

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Tuesday, August 12th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, August 12th. Alcoa's payout ratio is currently 10.44%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays increased their price target on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a report on Friday, May 16th. Citigroup raised shares of Alcoa to a "buy" rating and set a $42.00 price target for the company in a report on Tuesday, July 8th. Morgan Stanley cut their price target on shares of Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Friday, July 18th. B. Riley increased their price target on shares of Alcoa from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Bank of America increased their price target on shares of Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a report on Thursday, July 17th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Alcoa presently has a consensus rating of "Hold" and a consensus price target of $41.75.

About Alcoa

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.