103,952 Shares in Alcoa $AA Acquired by Globeflex Capital L P

Globeflex Capital L P acquired a new stake in Alcoa (NYSE:AA) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 103,952 shares of the industrial products company’s stock, valued at approximately $5,420,000.

A number of other hedge funds also recently made changes to their positions in the company. Checchi Capital Advisers LLC lifted its position in shares of Alcoa by 3.4% during the first quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 170 shares in the last quarter. Essential Partners LLC grew its holdings in Alcoa by 0.9% during the 1st quarter. Essential Partners LLC now owns 20,525 shares of the industrial products company’s stock valued at $1,361,000 after purchasing an additional 193 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Alcoa by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock worth $3,079,000 after buying an additional 229 shares during the period. Crossmark Global Holdings Inc. increased its stake in Alcoa by 1.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock worth $722,000 after buying an additional 241 shares during the period. Finally, Himension Capital Singapore PTE. LTD. lifted its holdings in Alcoa by 1.3% in the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 18,626 shares of the industrial products company’s stock worth $1,235,000 after buying an additional 246 shares in the last quarter.

Alcoa Stock Performance

Shares of Alcoa stock opened at $51.83 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. Alcoa has a 1 year low of $29.49 and a 1 year high of $84.38. The firm’s 50-day simple moving average is $50.14 and its 200-day simple moving average is $60.27. The firm has a market cap of $13.68 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 0.59 and a beta of 1.63.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same quarter last year, the business posted $0.39 earnings per share. Equities analysts forecast that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be given a $0.10 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. Alcoa’s dividend payout ratio (DPR) is presently 8.23%.

Analysts Set New Price Targets

AA has been the subject of a number of analyst reports. Royal Bank Of Canada set a $70.00 price objective on shares of Alcoa in a research report on Wednesday, July 1st. Wells Fargo & Company cut their price target on Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. JPMorgan Chase & Co. reduced their price target on Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Friday, July 17th. Zacks Research lowered Alcoa from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings raised Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $61.09.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.