EP Wealth Advisors LLC Acquires New Stake in Alcoa $AA

EP Wealth Advisors LLC bought a new position in shares of Alcoa (NYSE:AA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,881 shares of the industrial products company’s stock, valued at approximately $672,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its position in shares of Alcoa by 3,061.2% in the first quarter. Fifth Third Bancorp now owns 63,098 shares of the industrial products company’s stock worth $4,185,000 after purchasing an additional 61,102 shares during the last quarter. Advisors Preferred LLC purchased a new stake in Alcoa in the first quarter valued at approximately $1,613,000. XY Capital Ltd bought a new stake in Alcoa during the first quarter valued at approximately $1,662,000. Regal Partners Ltd lifted its position in Alcoa by 567.4% during the first quarter. Regal Partners Ltd now owns 356,330 shares of the industrial products company’s stock valued at $23,635,000 after purchasing an additional 302,940 shares during the last quarter. Finally, M&T Bank Corp grew its stake in Alcoa by 188.9% in the 4th quarter. M&T Bank Corp now owns 39,918 shares of the industrial products company’s stock worth $2,121,000 after buying an additional 26,102 shares in the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AA has been the topic of a number of research analyst reports. Morgan Stanley reissued an “equal weight” rating and issued a $53.00 price target (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. Zacks Research downgraded shares of Alcoa from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Royal Bank Of Canada set a $70.00 target price on shares of Alcoa in a research report on Wednesday, July 1st. Bank of America reduced their target price on Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a research note on Thursday, July 9th. Finally, Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.09.

Alcoa Stock Down 4.7%

Shares of AA opened at $49.41 on Tuesday. The firm has a market cap of $13.04 billion, a P/E ratio of 10.17, a P/E/G ratio of 0.59 and a beta of 1.63. The stock has a 50 day simple moving average of $49.84 and a two-hundred day simple moving average of $60.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. Alcoa has a 1 year low of $30.21 and a 1 year high of $84.38.

Alcoa (NYSE:AA) last issued 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 business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same quarter in the previous year, the business earned $0.39 earnings per share. On average, analysts forecast that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend 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 currently 8.23%.

About Alcoa

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.