Sagefield Capital LP Makes New $1.57 Million Investment in Alcoa Co. (NYSE:AA)

Sagefield Capital LP acquired a new stake in Alcoa Co. (NYSE:AA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 39,410 shares of the industrial products company’s stock, valued at approximately $1,568,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AA. ANTIPODES PARTNERS Ltd acquired a new stake in Alcoa in the 2nd quarter valued at $93,061,000. L1 Capital Pty Ltd acquired a new stake in shares of Alcoa in the first quarter valued at about $72,658,000. Norges Bank purchased a new stake in shares of Alcoa during the fourth quarter worth about $45,730,000. ARGA Investment Management LP raised its position in shares of Alcoa by 202.2% during the 1st quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after purchasing an additional 997,912 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in Alcoa by 29.8% in the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock valued at $69,869,000 after buying an additional 475,000 shares in the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AA shares. StockNews.com cut Alcoa from a “hold” rating to a “sell” rating in a report on Friday. B. Riley increased their price objective on Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Morgan Stanley decreased their price objective on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. B. Riley Financial reiterated a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. Finally, UBS Group boosted their price target on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Alcoa has an average rating of “Hold” and an average price target of $40.45.

Alcoa Stock Up 1.1 %

Shares of NYSE AA opened at $34.21 on Tuesday. Alcoa Co. has a 1 year low of $23.07 and a 1 year high of $45.48. The company has a market capitalization of $6.14 billion, a P/E ratio of -9.10 and a beta of 2.42. The company has a 50 day simple moving average of $32.40 and a 200-day simple moving average of $35.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.35) earnings per share. On average, equities research analysts predict that Alcoa Co. will post 0.7 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.17%. Alcoa’s payout ratio is currently -10.64%.

Alcoa Company Profile

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 two segments, 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.