Sei Investments Co. Raises Stock Holdings in Alcoa $AA

Key Points

• Sei Investments increased its Alcoa stake by 9.2% in the first quarter, acquiring 48,649 additional shares and bringing its total holdings to 579,259 shares valued at approximately $38.4 million.
• Alcoa reported quarterly EPS of $2.12, missing analyst expectations of $2.25, while revenue of $3.97 billion was slightly below the $3.99 billion consensus estimate.
• Analyst sentiment remains mixed, with Alcoa carrying a consensus “Hold” rating and an average price target of $61.09; the company also maintains a quarterly dividend of $0.10 per share.

Sei Investments Co. boosted its position in shares of Alcoa (NYSE:AA - Free Report) by 9.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 579,259 shares of the industrial products company's stock after buying an additional 48,649 shares during the quarter. Sei Investments Co. owned approximately 0.22% of Alcoa worth $38,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Moran Wealth Management LLC bought a new position in Alcoa during the 4th quarter valued at approximately $2,631,000. Merit Financial Group LLC grew its position in shares of Alcoa by 114.2% in the 4th quarter. Merit Financial Group LLC now owns 28,945 shares of the industrial products company's stock worth $1,538,000 after buying an additional 15,432 shares during the last quarter. Drummond Knight Asset Management Pty Ltd grew its position in shares of Alcoa by 14.1% in the 4th quarter. Drummond Knight Asset Management Pty Ltd now owns 1,060,523 shares of the industrial products company's stock worth $56,356,000 after buying an additional 130,915 shares during the last quarter. Evergreen Capital Management LLC purchased a new position in shares of Alcoa during the fourth quarter valued at approximately $1,399,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Alcoa by 278.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 67,093 shares of the industrial products company's stock valued at $3,565,000 after buying an additional 49,354 shares during the period.

Alcoa Stock Performance

Shares of AA stock opened at $44.20 on Monday. Alcoa has a 12 month low of $28.11 and a 12 month high of $84.38. The stock has a market cap of $11.66 billion, a PE ratio of 9.10, a price-to-earnings-growth 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. The company's fifty day moving average price is $59.57 and its 200-day moving average price is $62.13.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the previous year, the business earned $0.39 earnings per share. On average, equities analysts expect that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Argus dropped their price target on Alcoa from $73.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Morgan Stanley reissued an "equal weight" rating and set a $53.00 price objective (down from $79.00) on shares of Alcoa in a research report on Wednesday, July 8th. Wall Street Zen lowered shares of Alcoa from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Royal Bank Of Canada set a $70.00 target price on shares of Alcoa in a research report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. cut their target price on shares of Alcoa from $55.00 to $52.00 and set a "neutral" rating on the stock in a research note on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price 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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