Regal Partners Ltd Buys 302,940 Shares of Alcoa $AA

Regal Partners Ltd increased its stake in Alcoa (NYSE:AA) by 567.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 356,330 shares of the industrial products company’s stock after purchasing an additional 302,940 shares during the period. Alcoa makes up 1.3% of Regal Partners Ltd’s holdings, making the stock its 16th largest position. Regal Partners Ltd’s holdings in Alcoa were worth $23,635,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in Alcoa by 211.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock worth $332,338,000 after purchasing an additional 4,247,559 shares in the last quarter. Castle Hook Partners LP bought a new stake in shares of Alcoa in the fourth quarter valued at about $210,874,000. Maple Rock Capital Partners Inc. bought a new stake in shares of Alcoa in the fourth quarter valued at about $173,412,000. AQR Capital Management LLC boosted its position in shares of Alcoa by 153.4% during the fourth quarter. AQR Capital Management LLC now owns 4,134,425 shares of the industrial products company’s stock worth $219,703,000 after buying an additional 2,503,132 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Alcoa by 247.9% during the fourth quarter. Invesco Ltd. now owns 2,415,697 shares of the industrial products company’s stock worth $128,370,000 after buying an additional 1,721,280 shares during the period. 82.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AA. Wells Fargo & Company decreased their price objective on Alcoa from $72.00 to $71.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Argus cut their target price on Alcoa from $73.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. reduced their price target on Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. B. Riley Financial decreased their price target on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Finally, Bank of America lowered their price objective on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a report on Thursday, July 9th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Alcoa presently has a consensus rating of “Hold” and an average target price of $61.09.

Alcoa Trading Up 0.7%

Alcoa stock opened at $44.38 on Wednesday. The firm has a 50-day moving average of $58.81 and a 200-day moving average of $61.87. Alcoa has a one year low of $28.11 and a one year high of $84.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. The company has a market cap of $11.71 billion, a price-to-earnings ratio of 9.13, a P/E/G ratio of 0.50 and a beta of 1.63.

Alcoa (NYSE:AA) last released its earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same period in the prior year, the firm posted $0.39 EPS. On average, equities analysts expect that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business 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. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is currently 8.23%.

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.