Temasek Holdings Private Ltd Purchases 202,601 Shares of Alcoa $AA

Key Points

• Temasek Holdings Private Ltd increased its stake in Alcoa by 46.2% during the first quarter, acquiring a total of 641,420 shares valued at approximately $19.56 million.
• Alcoa reported quarterly earnings of $0.39 EPS, exceeding expectations, with revenue of $3.02 billion for the period, up 3.9% year-over-year.
• The company declared a quarterly dividend of $0.10, resulting in an annualized dividend yield of 1.3%.

Temasek Holdings Private Ltd grew its stake in shares of Alcoa (NYSE:AA - Free Report) by 46.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 641,420 shares of the industrial products company's stock after acquiring an additional 202,601 shares during the quarter. Temasek Holdings Private Ltd owned about 0.25% of Alcoa worth $19,563,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Teza Capital Management LLC purchased a new position in shares of Alcoa during the 1st quarter valued at approximately $212,000. Permanens Capital L.P. increased its position in shares of Alcoa by 40.2% during the first quarter. Permanens Capital L.P. now owns 15,191 shares of the industrial products company's stock valued at $463,000 after acquiring an additional 4,355 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Alcoa by 1,098.0% during the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company's stock worth $357,000 after purchasing an additional 10,727 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Alcoa by 39.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,714,733 shares of the industrial products company's stock valued at $52,300,000 after acquiring an additional 482,936 shares during the period. Finally, Banque Transatlantique SA purchased a new position in shares of Alcoa in the 1st quarter valued at about $74,000.

Alcoa Stock Down 1.1%

Shares of NYSE:AA traded down $0.34 on Wednesday, reaching $30.93. The company had a trading volume of 6,481,317 shares, compared to its average volume of 5,916,792. Alcoa has a twelve month low of $21.53 and a twelve month high of $47.77. The stock has a 50-day moving average price of $30.71 and a 200 day moving average price of $29.35. The stock has a market capitalization of $8.01 billion, a P/E ratio of 8.08, a P/E/G ratio of 0.18 and a beta of 2.26. 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 (NYSE:AA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. The firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.96 billion. Alcoa had a return on equity of 19.18% and a net margin of 7.86%.The company's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 EPS. On average, equities analysts expect that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th were issued a $0.10 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. Alcoa's dividend payout ratio (DPR) is presently 10.44%.

Analyst Ratings Changes

AA has been the subject of a number of research reports. Citigroup upgraded Alcoa to a "buy" rating and set a $42.00 price objective for the company in a research note on Tuesday, July 8th. Morgan Stanley reduced their target price on Alcoa from $40.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. JPMorgan Chase & Co. cut their price objective on 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 Alcoa from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, Bank of America increased their target price on Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a report on Thursday, July 17th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price 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.