Global Alpha Capital Management Ltd. Buys 60,100 Shares of Alcoa $AA

Global Alpha Capital Management Ltd. raised its stake in Alcoa (NYSE:AA) by 6.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 985,871 shares of the industrial products company’s stock after purchasing an additional 60,100 shares during the period. Alcoa accounts for approximately 1.8% of Global Alpha Capital Management Ltd.’s investment portfolio, making the stock its 28th biggest position. Global Alpha Capital Management Ltd. owned approximately 0.38% of Alcoa worth $29,093,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. IFP Advisors Inc grew its stake in Alcoa by 1,096.0% in the 2nd quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock valued at $26,000 after buying an additional 822 shares during the last quarter. Montag A & Associates Inc. bought a new stake in shares of Alcoa during the first quarter worth approximately $40,000. Quarry LP acquired a new position in shares of Alcoa in the first quarter valued at approximately $57,000. Banque Transatlantique SA bought a new position in shares of Alcoa during the first quarter worth approximately $74,000. Finally, Hantz Financial Services Inc. lifted its holdings in 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 purchasing an additional 2,076 shares during the last quarter.

Alcoa Stock Up 1.7%

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 business has a 50-day simple moving average of $34.74 and a 200 day simple moving average of $30.95. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.40. The company has a market cap of $9.67 billion, a PE ratio of 8.62, a price-to-earnings-growth ratio of 0.21 and a beta of 2.26.

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

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Tuesday, November 4th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, November 4th. Alcoa’s dividend payout ratio (DPR) is 9.24%.

Analysts Set New Price Targets

AA has been the topic of a number of research reports. Bank of America upped their price objective on Alcoa from $26.00 to $27.00 and gave the company an “underperform” rating in a report on Thursday, July 17th. Argus set a $45.00 target price on shares of Alcoa in a research report on Thursday, October 30th. B. Riley raised 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 Tuesday, September 23rd. BMO Capital Markets lifted their price objective on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Finally, UBS Group boosted their price objective on shares of Alcoa from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, September 19th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.