Intech Investment Management LLC Boosts Stock Position in Alcoa $AA

Intech Investment Management LLC increased its holdings in Alcoa (NYSE:AA) by 113.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 16,376 shares of the industrial products company’s stock after buying an additional 8,703 shares during the period. Intech Investment Management LLC’s holdings in Alcoa were worth $483,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. IFP Advisors Inc grew its stake in shares of Alcoa by 1,096.0% in the 2nd quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock worth $26,000 after buying an additional 822 shares in the last quarter. Horrell Capital Management Inc. purchased a new position in Alcoa in the second quarter worth about $30,000. Quarry LP bought a new stake in Alcoa during the first quarter worth approximately $57,000. Banque Transatlantique SA purchased a new stake in Alcoa during the first quarter valued at approximately $74,000. Finally, Hantz Financial Services Inc. lifted its stake in shares of Alcoa by 357.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,656 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 2,076 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AA. Weiss Ratings reissued a “hold (c)” rating on shares of Alcoa in a research report on Tuesday. Wells Fargo & Company began coverage on shares of Alcoa in a research report on Tuesday, October 7th. They set an “overweight” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of Alcoa from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. B. Riley lifted their price target on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Finally, Argus set a $45.00 price objective on shares of Alcoa in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.35.

Alcoa Stock Up 1.1%

Shares of AA opened at $42.02 on Friday. The firm has a fifty day moving average price of $36.62 and a 200-day moving average price of $32.31. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $10.88 billion, a P/E ratio of 9.70, a P/E/G ratio of 0.22 and a beta of 2.26. Alcoa has a 12-month low of $21.53 and a 12-month high of $46.78.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.13. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $3.03 billion. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. Equities research analysts expect that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Tuesday, November 4th were issued a $0.10 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Alcoa’s payout ratio is presently 9.24%.

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.