Y Intercept Hong Kong Ltd Acquires 8,482 Shares of Alcoa (NYSE:AA)

Y Intercept Hong Kong Ltd boosted its stake in Alcoa (NYSE:AA - Free Report) by 23.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,401 shares of the industrial products company's stock after buying an additional 8,482 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Alcoa were worth $1,385,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Alcoa during the 4th quarter worth about $259,273,000. Sourcerock Group LLC increased its holdings in shares of Alcoa by 319.1% in the fourth quarter. Sourcerock Group LLC now owns 1,978,009 shares of the industrial products company's stock valued at $74,729,000 after purchasing an additional 1,506,009 shares in the last quarter. Northern Trust Corp raised its position in Alcoa by 46.8% in the 4th quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company's stock worth $96,324,000 after purchasing an additional 813,214 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Alcoa by 488.2% during the 4th quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company's stock worth $30,320,000 after buying an additional 666,117 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Alcoa by 536.9% during the fourth quarter. Mackenzie Financial Corp now owns 645,140 shares of the industrial products company's stock worth $24,373,000 after acquiring an additional 543,853 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on AA. Wall Street Zen cut Alcoa from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. B. Riley reduced their target price on shares of Alcoa from $38.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Barclays lifted their price target on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a research report on Friday, May 16th. Morgan Stanley cut their price objective on shares of Alcoa from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Finally, UBS Group reaffirmed a "neutral" rating and set a $31.00 target price on shares of Alcoa in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $41.23.

Alcoa Stock Down 3.2%

Shares of NYSE:AA traded down $1.01 during trading on Friday, hitting $30.85. 6,911,380 shares of the company's stock traded hands, compared to its average volume of 6,433,886. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $29.20 and a 200-day moving average price of $30.66. Alcoa has a 52 week low of $21.53 and a 52 week high of $47.77. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 8.05, a price-to-earnings-growth ratio of 0.18 and a beta of 2.25.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.27%. The company had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same quarter in the prior year, the company earned $0.16 earnings per share. The business's quarterly revenue was up 3.9% compared to the same quarter last year. As a group, research analysts forecast that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Tuesday, May 20th. Alcoa's dividend payout ratio (DPR) is presently 10.44%.

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.