Alcoa (NYSE:AA) is Kailix Advisors LLC’s 6th Largest Position

Kailix Advisors LLC lifted its stake in Alcoa (NYSE:AA) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 289,500 shares of the industrial products company’s stock after purchasing an additional 2,930 shares during the quarter. Alcoa comprises 9.9% of Kailix Advisors LLC’s portfolio, making the stock its 6th biggest holding. Kailix Advisors LLC owned about 0.11% of Alcoa worth $8,830,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Alcoa during the 4th quarter valued at $1,639,000. Natixis Advisors LLC raised its position in Alcoa by 27.2% during the 4th quarter. Natixis Advisors LLC now owns 12,808 shares of the industrial products company’s stock valued at $484,000 after purchasing an additional 2,742 shares in the last quarter. Corient Private Wealth LLC raised its position in Alcoa by 4.6% during the 4th quarter. Corient Private Wealth LLC now owns 21,602 shares of the industrial products company’s stock valued at $816,000 after purchasing an additional 948 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Alcoa during the 4th quarter valued at $686,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Alcoa during the 4th quarter valued at $107,000.

Alcoa Stock Performance

Shares of AA stock opened at $30.29 on Friday. The company has a market capitalization of $7.84 billion, a P/E ratio of 7.91, a P/E/G ratio of 0.19 and a beta of 2.25. The business’s 50 day moving average is $28.94 and its two-hundred day moving average is $30.83. The company has a current ratio of 1.65, a quick ratio of 1.00 and a debt-to-equity ratio of 0.42. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. Alcoa had a return on equity of 19.27% and a net margin of 7.86%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. Analysts expect that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.32%. Alcoa’s dividend payout ratio is presently 10.44%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AA. Bank of America boosted their price target on Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a research report on Thursday. Citigroup raised Alcoa to a “buy” rating and set a $42.00 price target for the company in a research report on Tuesday, July 8th. Wall Street Zen lowered Alcoa from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. B. Riley reduced their price target on Alcoa from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, July 15th. Finally, UBS Group reissued a “neutral” rating and issued a $31.00 price target on shares of Alcoa in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.23.

About Alcoa

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.