AlphaQuest LLC Grows Holdings in Alcoa $AA

AlphaQuest LLC increased its position in shares of Alcoa (NYSE:AA) by 88.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,212 shares of the industrial products company’s stock after buying an additional 5,278 shares during the period. AlphaQuest LLC’s holdings in Alcoa were worth $342,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AA. Raymond James Financial Inc. acquired a new position in Alcoa during the 4th quarter worth $1,639,000. First Trust Advisors LP grew its holdings in Alcoa by 2.3% during the 4th quarter. First Trust Advisors LP now owns 70,876 shares of the industrial products company’s stock worth $2,678,000 after acquiring an additional 1,593 shares in the last quarter. Stifel Financial Corp grew its holdings in Alcoa by 2.1% during the 4th quarter. Stifel Financial Corp now owns 60,415 shares of the industrial products company’s stock worth $2,282,000 after acquiring an additional 1,244 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Alcoa by 760.0% during the 4th quarter. Hsbc Holdings PLC now owns 51,322 shares of the industrial products company’s stock worth $1,939,000 after acquiring an additional 45,354 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its holdings in Alcoa by 13.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 18,544 shares of the industrial products company’s stock worth $701,000 after acquiring an additional 2,234 shares in the last quarter.

Alcoa Trading Down 0.5%

NYSE AA opened at $31.80 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.65. The company has a 50-day simple moving average of $30.22 and a 200-day simple moving average of $29.70. The firm has a market capitalization of $8.23 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 0.18 and a beta of 2.24. Alcoa has a one year low of $21.53 and a one year high of $47.77.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.96 billion. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. Alcoa’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS. On average, equities analysts forecast that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders 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 yield of 1.3%. The ex-dividend date of this dividend is Tuesday, August 12th. Alcoa’s payout ratio is presently 10.44%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AA. Citigroup raised shares of Alcoa to a “buy” rating and set a $42.00 price objective for the company in a report on Tuesday, July 8th. Barclays raised their price objective on shares of Alcoa to $31.00 and gave the stock a “hold” rating in a report on Friday, May 16th. UBS Group reissued a “neutral” rating and set a $31.00 price objective on shares of Alcoa in a report on Thursday, May 15th. Wall Street Zen lowered shares of Alcoa from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Finally, Morgan Stanley decreased their price target on shares of Alcoa from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, July 18th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $41.23.

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.