Los Angeles Capital Management LLC Increases Stake in Alcoa Co. (NYSE:AA)

Los Angeles Capital Management LLC lifted its stake in shares of Alcoa Co. (NYSE:AA) by 407.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,629 shares of the industrial products company’s stock after buying an additional 25,400 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Alcoa were worth $1,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Spire Wealth Management increased its position in shares of Alcoa by 252.5% during the first quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock valued at $30,000 after buying an additional 644 shares during the period. Private Wealth Management Group LLC purchased a new stake in Alcoa in the fourth quarter worth about $33,000. Scarborough Advisors LLC purchased a new stake in Alcoa in the fourth quarter worth about $39,000. Quest Partners LLC purchased a new stake in Alcoa in the fourth quarter worth about $40,000. Finally, Quadrant Capital Group LLC grew its holdings in Alcoa by 56.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 576 shares during the period. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Alcoa Stock Up 6.0 %

Shares of Alcoa stock opened at $29.86 on Thursday. Alcoa Co. has a twelve month low of $23.07 and a twelve month high of $45.48. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $33.47 and its 200 day moving average is $35.38. The company has a market cap of $5.36 billion, a price-to-earnings ratio of -7.94 and a beta of 2.42.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter last year, the company posted ($0.35) earnings per share. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Research analysts anticipate that Alcoa Co. will post 0.7 EPS for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa’s dividend payout ratio is currently -10.64%.

Analyst Ratings Changes

AA has been the topic of a number of recent research reports. Morgan Stanley cut their price objective on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a report on Wednesday, September 4th. Citigroup upped their price objective on shares of Alcoa from $32.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Bank of America dropped their target price on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, July 18th. Finally, StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $39.09.

Alcoa Company 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.