KBC Group NV Has $216,000 Position in Alcoa $AA

KBC Group NV cut its stake in shares of Alcoa (NYSE:AA) by 32.2% in the second quarter, Holdings Channel reports. The fund owned 7,333 shares of the industrial products company’s stock after selling 3,479 shares during the period. KBC Group NV’s holdings in Alcoa were worth $216,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. IFP Advisors Inc increased its position in shares of Alcoa by 1,096.0% during the 2nd quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 822 shares in the last quarter. Montag A & Associates Inc. acquired a new stake in shares of Alcoa during the first quarter worth approximately $40,000. Quarry LP bought a new position in shares of Alcoa in the first quarter valued at approximately $57,000. Banque Transatlantique SA acquired a new position in shares of Alcoa in the 1st quarter worth approximately $74,000. Finally, Hantz Financial Services Inc. grew its position in Alcoa by 357.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,656 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 2,076 shares during the last quarter.

Alcoa Price Performance

Shares of AA stock opened at $36.52 on Wednesday. The firm has a market cap of $9.46 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 0.20 and a beta of 2.26. Alcoa has a 12 month low of $21.53 and a 12 month high of $47.77. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $35.61 and a 200 day moving average price of $31.65.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.13. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the prior year, the company posted $0.57 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. Research analysts expect that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Tuesday, November 4th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, November 4th. Alcoa’s payout ratio is currently 9.24%.

Analyst Ratings Changes

AA has been the subject of several research analyst reports. B. Riley lifted their price objective on Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. lifted their price target on Alcoa from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Alcoa in a report on Thursday, November 13th. HSBC raised their price objective on shares of Alcoa from $33.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, Wells Fargo & Company started coverage on shares of Alcoa in a research report on Tuesday, October 7th. They set an “overweight” rating and a $40.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $42.35.

Alcoa Company 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.