Y Intercept Hong Kong Ltd Takes $7.98 Million Position in Alcoa $AA

Y Intercept Hong Kong Ltd purchased a new position in shares of Alcoa (NYSE:AA) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 120,287 shares of the industrial products company’s stock, valued at approximately $7,979,000.

A number of other hedge funds have also bought and sold shares of AA. Mirabella Financial Services LLP increased its holdings in Alcoa by 12,233.1% in the third quarter. Mirabella Financial Services LLP now owns 40,082,462 shares of the industrial products company’s stock valued at $1,318,312,000 after buying an additional 39,757,462 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Alcoa by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,580,803 shares of the industrial products company’s stock worth $615,428,000 after buying an additional 462,243 shares during the last quarter. State Street Corp grew its position in shares of Alcoa by 6.7% in the 3rd quarter. State Street Corp now owns 11,458,529 shares of the industrial products company’s stock worth $376,871,000 after acquiring an additional 721,063 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Alcoa by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 6,655,655 shares of the industrial products company’s stock worth $389,621,000 after acquiring an additional 349,426 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Alcoa by 211.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock valued at $332,338,000 after acquiring an additional 4,247,559 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. B. Riley Financial reissued a “buy” rating on shares of Alcoa in a research report on Wednesday. Zacks Research downgraded shares of Alcoa from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. UBS Group lowered their target price on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday. Wall Street Zen cut shares of Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Citigroup raised their price target on shares of Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $67.82.

Alcoa Stock Down 0.0%

Alcoa stock opened at $48.66 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. Alcoa has a one year low of $28.11 and a one year high of $84.38. The company has a 50-day simple moving average of $64.86 and a 200-day simple moving average of $62.64. The firm has a market capitalization of $12.84 billion, a P/E ratio of 12.32 and a beta of 1.63.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.20). The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.15 earnings per share. As a group, equities analysts expect that Alcoa will post 7.41 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were paid a $0.10 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. Alcoa’s dividend payout ratio (DPR) is presently 10.13%.

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.