Temasek Holdings Private Ltd Increases Position in Alcoa $AA

Key Points

• Temasek Holdings boosted its Alcoa stake by 21.1% in the first quarter, ending with 1.3 million shares worth about $86.3 million.
• Analyst sentiment remains mixed: while some firms kept or set higher price targets, Zacks downgraded Alcoa to “strong sell” and the overall consensus rating is now Hold with a target price of $62.73.
• Alcoa reported Q2 EPS of $2.12, missing estimates, and revenue of $3.97 billion versus expectations of $3.99 billion; the stock was also trading well below its 52-week high and around $44.23 at the time of the report.

Temasek Holdings Private Ltd increased its holdings in Alcoa (NYSE:AA - Free Report) by 21.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,300,647 shares of the industrial products company's stock after purchasing an additional 226,253 shares during the quarter. Temasek Holdings Private Ltd owned 0.49% of Alcoa worth $86,272,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Basepoint Wealth LLC purchased a new stake in shares of Alcoa in the fourth quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new position in shares of Alcoa during the 3rd quarter valued at approximately $27,000. Raleigh Capital Management Inc. lifted its position in shares of Alcoa by 52,500.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company's stock valued at $28,000 after buying an additional 525 shares in the last quarter. CoreCap Advisors LLC grew its stake in Alcoa by 74.1% in the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 237 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its stake in Alcoa by 5,281.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 581 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Royal Bank Of Canada set a $70.00 price target on shares of Alcoa in a report on Wednesday, July 1st. Zacks Research downgraded shares of Alcoa from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 8th. Argus set a $73.00 target price on shares of Alcoa in a research report on Monday, April 27th. JPMorgan Chase & Co. cut 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, UBS Group reduced their price target on shares of Alcoa from $80.00 to $68.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $62.73.

Alcoa Stock Performance

AA opened at $44.23 on Wednesday. Alcoa has a twelve month low of $28.11 and a twelve month high of $84.38. The firm has a market capitalization of $11.67 billion, a PE ratio of 9.10, a PEG ratio of 0.48 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 firm's 50-day moving average price is $60.80 and its 200 day moving average price is $62.38.

Alcoa (NYSE:AA - Get Free Report) last released its earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.13). The business had revenue of $3.97 billion during the quarter, compared to analysts' expectations of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same period last year, the business earned $0.39 earnings per share. As a group, sell-side analysts expect that Alcoa will post 6.72 EPS for the current fiscal year.

Alcoa Announces Dividend

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

About Alcoa

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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