Hsbc Holdings PLC Grows Stock Holdings in Alcoa $AA

Hsbc Holdings PLC grew its position in Alcoa (NYSE:AA) by 44.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 306,484 shares of the industrial products company’s stock after buying an additional 94,611 shares during the quarter. Hsbc Holdings PLC’s holdings in Alcoa were worth $20,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake 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 acquiring an additional 4,247,559 shares in the last quarter. Castle Hook Partners LP acquired a new position in Alcoa in the 4th quarter valued at about $210,874,000. Maple Rock Capital Partners Inc. acquired a new position in Alcoa in the 4th quarter valued at about $173,412,000. AQR Capital Management LLC increased its stake in 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 purchasing an additional 2,503,132 shares during the period. Finally, Invesco Ltd. lifted 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 purchasing an additional 1,721,280 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Argus set a $73.00 target price on shares of Alcoa in a research note on Monday, April 27th. Morgan Stanley reiterated an “equal weight” rating and set a $53.00 target price (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. BMO Capital Markets decreased their price target on shares of Alcoa from $60.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday. Finally, Bank of America dropped their price target on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a research note on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $62.73.

Alcoa Stock Performance

Shares of AA opened at $44.23 on Wednesday. The stock has a 50-day simple moving average of $60.80 and a 200-day simple moving average of $62.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. The stock has a market capitalization of $11.67 billion, a PE ratio of 9.10, a PEG ratio of 0.48 and a beta of 1.63. Alcoa has a 1 year low of $28.11 and a 1 year high of $84.38.

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). The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same quarter in the previous year, the company posted $0.39 earnings per share. On average, analysts predict that Alcoa will post 6.72 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Alcoa’s dividend payout ratio 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.