Ameritas Advisory Services LLC Takes Position in Alcoa $AA

Ameritas Advisory Services LLC acquired a new position in shares of Alcoa (NYSE:AA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,783 shares of the industrial products company’s stock, valued at approximately $82,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in Alcoa by 33.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,803,086 shares of the industrial products company’s stock worth $207,490,000 after purchasing an additional 1,721,222 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Alcoa by 0.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,899,066 shares of the industrial products company’s stock valued at $57,922,000 after buying an additional 6,832 shares in the last quarter. L1 Capital Pty Ltd bought a new position in Alcoa in the first quarter valued at approximately $52,675,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Alcoa by 39.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,714,733 shares of the industrial products company’s stock valued at $52,300,000 after acquiring an additional 482,936 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd increased its stake in Alcoa by 2.2% in the first quarter. ANTIPODES PARTNERS Ltd now owns 1,687,529 shares of the industrial products company’s stock valued at $51,474,000 after acquiring an additional 36,520 shares during the last quarter.

Alcoa Stock Performance

Alcoa stock opened at $35.05 on Friday. The firm’s fifty day moving average price is $32.07 and its 200-day moving average price is $29.41. 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 stock has a market cap of $9.07 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 0.23 and a beta of 2.20. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $47.77.

Alcoa (NYSE:AA) last posted its quarterly earnings data 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. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.16 EPS. On average, equities research analysts expect that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Tuesday, August 12th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. Alcoa’s dividend payout ratio (DPR) is currently 10.44%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wells Fargo & Company began coverage on shares of Alcoa in a research note on Tuesday. They set an “overweight” rating and a $40.00 target price on the stock. Bank of America upped their price objective on shares of Alcoa from $26.00 to $27.00 and gave the company an “underperform” rating in a report on Thursday, July 17th. B. Riley boosted their target price on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. UBS Group upped their price objective on shares of Alcoa from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, September 19th. Finally, Morgan Stanley increased their target price on shares of Alcoa from $38.00 to $42.50 and gave the company an “overweight” rating in a research report on Wednesday. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $43.04.

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.