Commerce Bank acquired a new position in Alcoa (NYSE:AA – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,734 shares of the industrial products company’s stock, valued at approximately $768,000.
Other institutional investors also recently bought and sold shares of the company. Basepoint Wealth LLC bought a new position in Alcoa during the 4th quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Alcoa during the second quarter valued at approximately $25,000. Western Wealth Management LLC bought a new position in shares of Alcoa during the first quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd increased its holdings in Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after buying an additional 581 shares during the period. Finally, Quarry LP increased its holdings in Alcoa by 96.0% during the fourth quarter. Quarry LP now owns 694 shares of the industrial products company’s stock valued at $37,000 after buying an additional 340 shares during the period.
Analysts Set New Price Targets
AA has been the subject of a number of recent research reports. Weiss Ratings upgraded Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. JPMorgan Chase & Co. cut their price target on Alcoa from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, July 17th. Wall Street Zen raised Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. UBS Group decreased their price objective on Alcoa from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, BMO Capital Markets dropped their price objective on Alcoa from $60.00 to $55.00 and set a “market perform” rating on the stock in a research report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Alcoa currently has a consensus rating of “Hold” and an average price target of $61.09.
Alcoa Stock Performance
Shares of AA opened at $49.72 on Thursday. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The firm has a market cap of $13.12 billion, a PE ratio of 10.23, a P/E/G ratio of 0.58 and a beta of 1.63. Alcoa has a 12 month low of $30.21 and a 12 month high of $84.38. The stock has a fifty day moving average price of $49.37 and a 200-day moving average price of $60.09.
Alcoa (NYSE:AA – Get Free Report) last announced its earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter last year, the firm earned $0.39 earnings per share. Equities research analysts predict that Alcoa will post 6.55 earnings per share for the current fiscal year.
Alcoa Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. Alcoa’s dividend payout ratio is 8.23%.
Alcoa Profile
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.
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