Lombard Odier Asset Management Europe Ltd Purchases 42,979 Shares of Alcoa $AA

Lombard Odier Asset Management Europe Ltd grew its position in Alcoa (NYSE:AA) by 90.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 90,258 shares of the industrial products company’s stock after purchasing an additional 42,979 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Alcoa were worth $5,987,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AA. Waverly Advisors LLC boosted its holdings in Alcoa by 45.6% during the first quarter. Waverly Advisors LLC now owns 6,593 shares of the industrial products company’s stock worth $437,000 after purchasing an additional 2,066 shares during the last quarter. Entropy Technologies LP grew its position in Alcoa by 914.1% in the 1st quarter. Entropy Technologies LP now owns 98,017 shares of the industrial products company’s stock worth $6,501,000 after purchasing an additional 88,352 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Alcoa in the 1st quarter valued at about $39,712,000. Public Employees Retirement System of Ohio increased its stake in Alcoa by 4.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 81,462 shares of the industrial products company’s stock valued at $5,403,000 after buying an additional 3,689 shares during the last quarter. Finally, Compound Planning Inc. lifted its position in shares of Alcoa by 15.4% during the 1st quarter. Compound Planning Inc. now owns 6,641 shares of the industrial products company’s stock worth $441,000 after buying an additional 884 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AA. Bank of America cut their target price on Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings raised Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. B. Riley Financial dropped their price target on 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 Alcoa from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Finally, UBS Group reduced their price objective on Alcoa from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.09.

Alcoa Stock Performance

Shares of AA stock opened at $44.20 on Friday. The firm has a market cap of $11.66 billion, a price-to-earnings ratio of 9.10, a P/E/G ratio of 0.50 and a beta of 1.63. 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 52 week low of $28.11 and a 52 week high of $84.38. The firm’s 50-day simple moving average is $59.57 and its two-hundred day simple moving average is $62.13.

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 company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. As a group, equities analysts forecast that Alcoa will post 6.55 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s payout ratio is 8.23%.

Alcoa Company 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.