11,133 Shares in Alcoa $AA Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC bought a new stake in shares of Alcoa (NYSE:AA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 11,133 shares of the industrial products company’s stock, valued at approximately $580,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in AA. Basepoint Wealth LLC bought a new position in Alcoa in the fourth quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Alcoa during the second quarter worth about $25,000. Advisory Services Network LLC purchased a new position in shares of Alcoa in the 3rd quarter worth about $27,000. Caitong International Asset Management Co. Ltd increased its position in shares of Alcoa by 5,281.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 581 shares during the last quarter. Finally, Western Wealth Management LLC bought a new position in shares of Alcoa during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Alcoa Stock Performance

Shares of AA stock opened at $49.41 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. Alcoa has a fifty-two week low of $30.21 and a fifty-two week high of $84.38. The stock has a 50 day moving average price of $49.84 and a two-hundred day moving average price of $60.18. The company has a market capitalization of $13.04 billion, a P/E ratio of 10.17, a PEG ratio of 0.59 and a beta of 1.63.

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

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be given a $0.10 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. Alcoa’s payout ratio is presently 8.23%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Bank of America dropped their target price on Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a research report on Thursday, July 9th. Zacks Research lowered shares of Alcoa from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. B. Riley Financial reduced their target price on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. BMO Capital Markets decreased their target price on shares of Alcoa from $60.00 to $55.00 and set a “market perform” rating on the stock in a research report on Friday, July 17th. Finally, UBS Group lowered their price target on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Alcoa has an average rating of “Hold” and a consensus price target of $61.09.

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.