DekaBank Deutsche Girozentrale Buys New Position in Alcoa Co. (NYSE:AA)

DekaBank Deutsche Girozentrale purchased a new position in Alcoa Co. (NYSE:AA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 16,500 shares of the industrial products company’s stock, valued at approximately $635,000.

Several other large investors have also added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd purchased a new position in shares of Alcoa during the 2nd quarter worth approximately $93,061,000. L1 Capital Pty Ltd purchased a new stake in Alcoa in the first quarter worth $72,658,000. Capital Research Global Investors grew its stake in Alcoa by 29.8% in the first quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock worth $69,869,000 after purchasing an additional 475,000 shares during the period. ARGA Investment Management LP raised its holdings in Alcoa by 202.2% in the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after purchasing an additional 997,912 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Alcoa by 43.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company’s stock valued at $49,958,000 after buying an additional 444,393 shares during the period. Institutional investors own 82.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AA. B. Riley increased their price target on shares of Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday. StockNews.com downgraded shares of Alcoa from a “hold” rating to a “sell” rating in a research note on Friday. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research report on Wednesday, September 4th. B. Riley Financial restated a “neutral” rating and issued a $41.00 price target on shares of Alcoa in a research note on Tuesday. Finally, Bank of America lowered their price objective on Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.45.

Alcoa Stock Down 3.1 %

AA stock opened at $33.83 on Friday. The stock has a market capitalization of $6.07 billion, a P/E ratio of -9.00 and a beta of 2.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. Alcoa Co. has a 1-year low of $23.07 and a 1-year high of $45.48. The business has a fifty day moving average price of $32.61 and a 200-day moving average price of $35.61.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the prior year, the business earned ($0.35) EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts forecast that Alcoa Co. will post 0.7 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

About Alcoa

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.