Zurcher Kantonalbank Zurich Cantonalbank Has $3.52 Million Position in Alcoa (NYSE:AA)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Alcoa by 19.0% in Q1, now holding 115,469 shares valued at approximately $3.52 million.
• Alcoa reported $0.39 earnings per share for the last quarter, surpassing the analysts' expectations of $0.29, with revenues also exceeding expectations at $3.02 billion.
• Several analysts have issued mixed ratings on Alcoa, with one downgrading the stock to a "hold" and others maintaining or adjusting target prices ranging from $31.00 to $38.00.

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Alcoa (NYSE:AA - Free Report) by 19.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,469 shares of the industrial products company's stock after buying an additional 18,419 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Alcoa were worth $3,522,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AA. Bessemer Group Inc. boosted its position in shares of Alcoa by 77.1% in the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 296 shares during the period. Versant Capital Management Inc boosted its holdings in Alcoa by 134.7% in the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 520 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Alcoa during the 4th quarter worth approximately $36,000. Montag A & Associates Inc. bought a new position in shares of Alcoa during the first quarter worth approximately $40,000. Finally, Continuum Advisory LLC increased its holdings in shares of Alcoa by 30.7% during the fourth quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company's stock worth $56,000 after purchasing an additional 345 shares during the period.

Wall Street Analysts Forecast Growth

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

Alcoa Trading Down 0.5%

Shares of Alcoa stock opened at $29.97 on Friday. The firm has a market capitalization of $7.76 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 0.17 and a beta of 2.25. 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 firm's 50 day moving average is $29.34 and its 200 day moving average is $30.53. Alcoa has a 1 year low of $21.53 and a 1 year high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last posted its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.27%. The firm had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same quarter in the previous year, the firm posted $0.16 earnings per share. The company's revenue was up 3.9% on a year-over-year basis. Equities research analysts forecast that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, August 12th. Alcoa's dividend payout ratio (DPR) is presently 10.44%.

Alcoa Profile

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.

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