XY Capital Ltd Acquires New Shares in Alcoa $AA

Key Points

• XY Capital Ltd opened a new position in Alcoa during the first quarter, buying 25,064 shares worth about $1.66 million. The stake represents 1.6% of its portfolio and is its 23rd largest holding.
• Alcoa reported Q2 earnings of $2.12 per share, missing analyst expectations of $2.25, while revenue came in at $3.97 billion versus $3.99 billion expected. The company’s earnings were still far above the $0.39 per share it posted in the same quarter last year.
• Analyst sentiment is mixed, with several firms cutting price targets and Zacks Research downgrading the stock to strong sell. MarketBeat data shows a consensus rating of Hold and an average target price of $62.73.

XY Capital Ltd acquired a new position in Alcoa (NYSE:AA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 25,064 shares of the industrial products company's stock, valued at approximately $1,662,000. Alcoa accounts for 1.6% of XY Capital Ltd's portfolio, making the stock its 23rd largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC grew its holdings in shares of Alcoa by 3.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company's stock worth $341,000 after purchasing an additional 170 shares during the period. Prime Capital Investment Advisors LLC raised its holdings in Alcoa by 1.9% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company's stock valued at $568,000 after buying an additional 204 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its position in Alcoa by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company's stock valued at $3,079,000 after buying an additional 229 shares during the last quarter. CoreCap Advisors LLC lifted its position in Alcoa by 74.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company's stock valued at $30,000 after buying an additional 237 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in Alcoa by 1.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company's stock worth $722,000 after buying an additional 241 shares during the period.

Alcoa Stock Up 1.7%

Shares of NYSE:AA opened at $44.23 on Wednesday. The firm has a market capitalization of $11.67 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 0.48 and a beta of 1.63. Alcoa has a 1 year low of $28.11 and a 1 year high of $84.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. The firm's 50-day moving average is $60.80 and its two-hundred day moving average is $62.38.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same quarter last year, the firm posted $0.39 EPS. Analysts predict that Alcoa will post 6.72 EPS for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a 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%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Alcoa from $72.00 to $71.00 and set an "overweight" rating for the company in a research report on Friday, July 17th. Argus set a $73.00 price objective on shares of Alcoa in a research report on Monday, April 27th. Zacks Research downgraded shares of Alcoa from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 8th. UBS Group dropped their target price on shares of Alcoa from $80.00 to $68.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. decreased their price target on Alcoa from $55.00 to $52.00 and set a "neutral" rating on the stock in a research note on Friday, July 17th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $62.73.

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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