188,120 Shares in Alcoa Co. (NYSE:AA) Purchased by Point72 DIFC Ltd

Point72 DIFC Ltd bought a new stake in shares of Alcoa Co. (NYSE:AA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 188,120 shares of the industrial products company’s stock, valued at approximately $7,483,000. Point72 DIFC Ltd owned 0.10% of Alcoa at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Fifth Third Bancorp increased its stake in Alcoa by 15.1% in the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after buying an additional 309 shares during the period. Pacer Advisors Inc. increased its position in shares of Alcoa by 1.4% during the second quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock worth $1,073,000 after acquiring an additional 368 shares during the period. Diversified Trust Co raised its stake in shares of Alcoa by 5.7% during the first quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 416 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Alcoa by 56.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 576 shares during the period. Finally, CWM LLC grew its stake in Alcoa by 19.5% in the second quarter. CWM LLC now owns 3,651 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 596 shares in the last quarter. Institutional investors own 82.39% of the company’s stock.

Alcoa Price Performance

NYSE AA opened at $34.21 on Tuesday. The firm’s fifty day simple moving average is $32.40 and its two-hundred day simple moving average is $35.80. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Alcoa Co. has a 12-month low of $23.07 and a 12-month high of $45.48. The firm has a market capitalization of $6.14 billion, a P/E ratio of -9.10 and a beta of 2.42.

Alcoa (NYSE:AA) last released its quarterly 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. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the company earned ($0.35) earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts forecast that Alcoa Co. will post 0.7 EPS for the current fiscal year.

Alcoa Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AA shares. UBS Group lifted their target price on Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Morgan Stanley lowered their price objective on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. StockNews.com downgraded shares of Alcoa from a “hold” rating to a “sell” rating in a research report on Friday. Bank of America lowered their price target on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. Finally, B. Riley Financial reissued a “neutral” rating and issued a $41.00 price objective on shares of Alcoa in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.45.

Alcoa 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.