Gateway Investment Advisers LLC Has $1.39 Million Stake in Alcoa Co. (NYSE:AA)

Gateway Investment Advisers LLC lessened its position in Alcoa Co. (NYSE:AAGet Rating) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,457 shares of the industrial products company’s stock after selling 328 shares during the period. Gateway Investment Advisers LLC’s holdings in Alcoa were worth $1,388,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AA. Moors & Cabot Inc. grew its position in shares of Alcoa by 2.2% during the 1st quarter. Moors & Cabot Inc. now owns 8,748 shares of the industrial products company’s stock worth $788,000 after buying an additional 185 shares during the period. Hanseatic Management Services Inc. bought a new stake in Alcoa in the first quarter valued at $25,000. Arizona State Retirement System raised its holdings in shares of Alcoa by 0.6% during the first quarter. Arizona State Retirement System now owns 50,577 shares of the industrial products company’s stock valued at $4,553,000 after purchasing an additional 283 shares during the period. Koshinski Asset Management Inc. boosted its position in shares of Alcoa by 27.3% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,393 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 299 shares in the last quarter. Finally, Fairfield Bush & CO. bought a new stake in Alcoa in the 1st quarter valued at about $29,000.

Alcoa Price Performance

AA opened at $37.52 on Friday. Alcoa Co. has a fifty-two week low of $37.48 and a fifty-two week high of $98.09. The firm has a 50-day moving average of $48.78 and a 200 day moving average of $60.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.02 and a current ratio of 1.81. The firm has a market cap of $6.75 billion, a P/E ratio of 7.37, a PEG ratio of 0.62 and a beta of 2.31.

Alcoa (NYSE:AAGet Rating) last released its earnings results on Wednesday, July 20th. The industrial products company reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates of $3.71 by ($1.04). The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.48 billion. Alcoa had a net margin of 7.19% and a return on equity of 30.66%. The firm’s revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.49 earnings per share. On average, research analysts expect that Alcoa Co. will post 7.16 EPS for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Tuesday, August 9th were paid a $0.10 dividend. The ex-dividend date was Monday, August 8th. This represents a $0.40 annualized dividend and a dividend yield of 1.07%. Alcoa’s payout ratio is presently 7.86%.

Analysts Set New Price Targets

Several research analysts have issued reports on AA shares. Wolfe Research lowered Alcoa from an “outperform” rating to a “market perform” rating in a report on Thursday. B. Riley lowered their price objective on shares of Alcoa from $84.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday, June 28th. Morgan Stanley raised shares of Alcoa from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $51.00 to $66.00 in a research report on Friday, September 16th. BMO Capital Markets dropped their price target on shares of Alcoa from $57.00 to $55.00 in a research report on Thursday, July 21st. Finally, The Goldman Sachs Group decreased their price objective on Alcoa from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday, July 22nd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Alcoa presently has a consensus rating of “Hold” and a consensus target price of $78.82.

Alcoa Profile

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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 three segments: Bauxite, 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.

See Also

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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