Lombard Odier Asset Management Europe Ltd Takes Position in Alcoa $AA

Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Alcoa (NYSE:AA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 67,842 shares of the industrial products company’s stock, valued at approximately $3,537,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Checchi Capital Advisers LLC increased its holdings in Alcoa by 3.4% in the 1st quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 170 shares in the last quarter. Essential Partners LLC boosted its stake in shares of Alcoa by 0.9% during the first quarter. Essential Partners LLC now owns 20,525 shares of the industrial products company’s stock valued at $1,361,000 after purchasing an additional 193 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Alcoa by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock valued at $3,079,000 after purchasing an additional 229 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Alcoa by 1.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock worth $722,000 after purchasing an additional 241 shares during the last quarter. Finally, Himension Capital Singapore PTE. LTD. grew its holdings in shares of Alcoa by 1.3% during the first quarter. Himension Capital Singapore PTE. LTD. now owns 18,626 shares of the industrial products company’s stock worth $1,235,000 after purchasing an additional 246 shares during the last quarter.

Analyst Upgrades and Downgrades

AA has been the subject of several recent research reports. BMO Capital Markets lowered their price objective on Alcoa from $60.00 to $55.00 and set a “market perform” rating for the company in a research note on Friday, July 17th. Bank of America cut their target price on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a research report on Thursday, July 9th. 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. Zacks Research cut shares of Alcoa from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings raised shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.09.

Alcoa Price Performance

Alcoa stock opened at $50.35 on Friday. The stock’s 50 day moving average is $49.03 and its 200 day moving average is $59.97. Alcoa has a one year low of $30.21 and a one year high of $84.38. The firm has a market cap of $13.29 billion, a P/E ratio of 10.36, a P/E/G ratio of 0.58 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92.

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

Alcoa Dividend Announcement

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

Insider Activity at Alcoa

In other news, EVP Tammi A. Jones sold 15,628 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $50.60, for a total transaction of $790,776.80. Following the completion of the sale, the executive vice president directly owned 39,819 shares in the company, valued at $2,014,841.40. This represents a 28.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

About Alcoa

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.