Monaco Asset Management SAM Invests $2.66 Million in Alcoa $AA

Monaco Asset Management SAM acquired a new stake in Alcoa (NYSE:AA) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 90,000 shares of the industrial products company’s stock, valued at approximately $2,656,000. Alcoa makes up about 0.5% of Monaco Asset Management SAM’s portfolio, making the stock its 25th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in shares of Alcoa by 1,096.0% during the second quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock worth $26,000 after buying an additional 822 shares during the period. Montag A & Associates Inc. bought a new stake in Alcoa in the 1st quarter valued at approximately $40,000. Quarry LP acquired a new position in Alcoa during the 1st quarter worth approximately $57,000. Banque Transatlantique SA acquired a new position in Alcoa during the 1st quarter worth approximately $74,000. Finally, Hantz Financial Services Inc. grew its stake in shares of Alcoa by 357.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,656 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 2,076 shares in the last quarter.

Alcoa Stock Up 1.7%

Shares of AA stock opened at $37.33 on Friday. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 0.21 and a beta of 2.26. The firm’s 50-day moving average is $34.74 and its 200-day moving average is $31.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 1.56.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.13. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.03 billion. Alcoa had a return on equity of 15.85% and a net margin of 8.91%.The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. Sell-side analysts predict that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Tuesday, November 4th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, November 4th. Alcoa’s payout ratio is currently 9.24%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AA. BMO Capital Markets boosted their price objective on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Argus set a $45.00 price target on shares of Alcoa in a research note on Thursday, October 30th. Bank of America increased their price objective on shares of Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. lifted their target price on Alcoa from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Finally, B. Riley increased their price target on Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.35.

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.