Lombard Odier Asset Management Europe Ltd Acquires Shares of 47,279 Alcoa $AA

Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Alcoa (NYSE:AA) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 47,279 shares of the industrial products company’s stock, valued at approximately $2,512,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Basepoint Wealth LLC bought a new position in shares of Alcoa during the 4th quarter valued at about $25,000. Advisory Services Network LLC bought a new position in shares of Alcoa during the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. boosted its holdings in shares of Alcoa by 52,500.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 525 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in shares of Alcoa by 74.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 237 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Alcoa by 5,281.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 581 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AA. Wells Fargo & Company set a $68.00 price target on shares of Alcoa in a report on Thursday, March 12th. Argus set a $73.00 price target on shares of Alcoa in a report on Monday, April 27th. Weiss Ratings downgraded shares of Alcoa from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 1st. Zacks Research downgraded shares of Alcoa from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, UBS Group raised shares of Alcoa from a “neutral” rating to a “buy” rating and increased their price target for the company from $75.00 to $80.00 in a report on Friday, May 22nd. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.50.

Alcoa Stock Performance

Alcoa stock opened at $62.88 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.48 and a quick ratio of 0.88. Alcoa has a 1-year low of $27.72 and a 1-year high of $84.38. The firm has a market capitalization of $16.59 billion, a P/E ratio of 15.92 and a beta of 1.56. The company’s 50-day moving average is $69.11 and its 200 day moving average is $61.82.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period last year, the company earned $2.15 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. Research analysts forecast that Alcoa will post 7.89 EPS for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. Alcoa’s dividend payout ratio (DPR) is 10.13%.

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.