Alcoa $AA Shares Bought by Nwam LLC

Nwam LLC grew its position in Alcoa (NYSE:AA) by 403.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,388 shares of the industrial products company’s stock after buying an additional 30,760 shares during the period. Nwam LLC’s holdings in Alcoa were worth $2,002,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in Alcoa by 1,098.0% in the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 10,727 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Alcoa by 0.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock valued at $19,722,000 after purchasing an additional 4,624 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Alcoa by 1.9% in the 2nd quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock valued at $18,902,000 after purchasing an additional 12,008 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Alcoa by 173.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,295 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Alcoa by 320.1% during the 2nd quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock worth $7,967,000 after purchasing an additional 205,717 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Zacks Research lowered shares of Alcoa from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. BMO Capital Markets dropped their price target on shares of Alcoa from $60.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, July 17th. Morgan Stanley reissued an “equal weight” rating and issued a $53.00 price target (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th. Finally, Argus decreased their price objective on shares of Alcoa from $73.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.09.

Alcoa Price Performance

AA stock opened at $50.95 on Wednesday. The business’s fifty day moving average price is $48.78 and its 200 day moving average price is $59.78. Alcoa has a 12-month low of $30.21 and a 12-month high of $84.38. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $13.45 billion, a PE ratio of 10.48, a P/E/G ratio of 0.56 and a beta of 1.63.

Alcoa (NYSE:AA) last announced its 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 for the quarter, compared to analysts’ expectations of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same quarter last year, the business earned $0.39 earnings per share. On average, sell-side analysts anticipate that Alcoa will post 6.55 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were paid a $0.10 dividend. The ex-dividend date of this dividend was 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%.

Insider Activity at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 15,628 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $50.60, for a total transaction of $790,776.80. Following the sale, the executive vice president directly owned 39,819 shares in the company, valued at $2,014,841.40. This represents a 28.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Renato Bacchi sold 700 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $51.02, for a total transaction of $35,714.00. Following the completion of the transaction, the executive vice president directly owned 74,930 shares of the company’s stock, valued at $3,822,928.60. This represents a 0.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

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.