Global Alpha Capital Management Ltd. Has $29.09 Million Holdings in Alcoa $AA

Global Alpha Capital Management Ltd. grew its holdings in shares of Alcoa (NYSE:AA) by 6.5% in the 2nd quarter, Holdings Channel reports. The fund owned 985,871 shares of the industrial products company’s stock after buying an additional 60,100 shares during the period. Alcoa accounts for 1.8% of Global Alpha Capital Management Ltd.’s investment portfolio, making the stock its 28th largest holding. Global Alpha Capital Management Ltd.’s holdings in Alcoa were worth $29,093,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AA. IFP Advisors Inc grew its holdings in shares of Alcoa by 1,096.0% during the 2nd quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 822 shares during the last quarter. Montag A & Associates Inc. bought a new position in Alcoa in the 1st quarter valued at approximately $40,000. Quarry LP acquired a new stake in Alcoa in the first quarter valued at approximately $57,000. Banque Transatlantique SA bought a new stake in shares of Alcoa during the first quarter worth $74,000. Finally, Hantz Financial Services Inc. increased its holdings in shares of Alcoa by 357.9% during the second quarter. Hantz Financial Services Inc. now owns 2,656 shares of the industrial products company’s stock worth $78,000 after buying an additional 2,076 shares in the last quarter.

Alcoa Trading Up 1.7%

NYSE AA opened at $37.33 on Friday. The firm has a market capitalization 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. The business’s 50-day moving average price is $34.74 and its two-hundred day moving average price is $30.95. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.40. Alcoa has a 12 month low of $21.53 and a 12 month high of $47.77.

Alcoa (NYSE:AA) last issued 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 return on equity of 15.85% and a net margin of 8.91%.The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period last year, the company earned $0.57 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. On average, analysts expect that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

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

Analysts Set New Price Targets

AA has been the subject of a number of research reports. Argus set a $45.00 price target on Alcoa in a research note on Thursday, October 30th. Bank of America increased their target price on Alcoa from $26.00 to $27.00 and gave the company an “underperform” rating in a research report on Thursday, July 17th. Weiss Ratings raised Alcoa from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. BMO Capital Markets upped their price objective on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Finally, Wells Fargo & Company began coverage on shares of Alcoa in a report on Tuesday, October 7th. They issued an “overweight” rating and a $40.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $42.35.

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.