Monaco Asset Management SAM Invests $2.66 Million in Alcoa $AA

Monaco Asset Management SAM purchased a new position in shares of Alcoa (NYSE:AA) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 90,000 shares of the industrial products company’s stock, valued at approximately $2,656,000. Alcoa accounts for about 0.5% of Monaco Asset Management SAM’s investment portfolio, making the stock its 25th biggest position.

Several other institutional investors have also added to or reduced their stakes in AA. IFP Advisors Inc increased its position in Alcoa by 1,096.0% during 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 during the period. Montag A & Associates Inc. acquired a new position in shares of Alcoa in the first quarter valued at about $40,000. Quarry LP bought a new position in Alcoa during the first quarter worth about $57,000. Banque Transatlantique SA acquired a new stake in Alcoa in the 1st quarter worth about $74,000. Finally, Hantz Financial Services Inc. boosted its holdings in 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 period.

Alcoa Trading Up 1.7%

AA opened at $37.33 on Friday. The company has a market cap of $9.67 billion, a P/E ratio of 8.62, a PEG ratio of 0.21 and a beta of 2.26. 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 company’s 50 day moving average is $34.74 and its 200-day moving average is $31.00. Alcoa has a 1-year low of $21.53 and a 1-year high of $47.77.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.13. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the prior year, the company earned $0.57 EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities research analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Tuesday, November 4th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. Alcoa’s dividend payout ratio (DPR) is 9.24%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AA shares. Wells Fargo & Company initiated coverage on shares of Alcoa in a report on Tuesday, October 7th. They set an “overweight” rating and a $40.00 target price on the stock. HSBC raised their price target on Alcoa from $33.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. UBS Group increased their price objective on shares of Alcoa from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. B. Riley boosted their target price on shares of Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Alcoa from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Alcoa presently has a consensus rating of “Hold” and an average target price of $42.35.

Alcoa 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.